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Approach Resources reports 4th-quarter loss but tops expectations

FORT WORTH, Texas – FORT WORTH, Texas (AP) _ Approach Resources Inc. (AREX) on Thursday reported a fourth-quarter loss of $5.8 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Fort Worth, Texas-based company said it had a loss of 14 cents. Losses, adjusted for one-time gains and costs, came to 12 cents per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 17 cents per share.

The oil and gas company posted revenue of $25.5 million in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $35.1 million.

For the year, the company reported a loss of $174.1 million, or $4.30 per share, swinging to a loss in the period. Revenue was reported as $131.3 million.

In the final minutes of trading on Thursday, the company’s shares hit $1.11. A year ago, they were trading at $8.07.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AREX at http://www.zacks.com/ap/AREX

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Keywords: Approach Resources, Earnings Report