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Wednesday, August 1, 2012

Pre-Market Earnings ( LIFE, OKE, PXD, QEP, XCO)


Life Technologies Corp. (NASDAQ:LIFE) reported second-quarter net income of $122.4 million or $0.67 per share, as compared to $95.5 million or $0.52 per share in the same quarter last year. Adjusted net income for the quarter was $173.9 million or $0.96 per share. Revenues increased to $950 million from $945 million in the comparable quarter last year. Analysts expected the company to report profit of $0.97 per share on revenues of $945.19 million for the quarter.

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Additionally, the company’s Board of Directors has approved a share repurchase program, authorizing the Company to purchase up to $750 million of its common stock. This is in addition to the approximately $62 million remaining as of July 31, 2012 from the existing share repurchase authorization of $200 million approved in July of 2011.

ONEOK, Inc. (NYSE:OKE) reported second-quarter net income of $206.5 million, as compared to $171.1 million for the same period in the year ago period. Earnings were $0.69 per share, compared with $0.67 per share for the same period last year. Revenues for the quarter declined to $2.12 billion from $2.78 billion in the prior year quarter. Analysts expected the company to report earnings of $0.34 per share on revenues of $3.56 billion for the quarter.

Pioneer Natural Resources (NYSE:PXD) reported second-quarter net loss of $70.39 million, as compared to a net income of $245.58 million in the same quarter last year. On a per share basis, net loss was $0.57, as compared to net income of $2.03 last year. Adjusted income for the latest-quarter was $97.77 million or $0.78 per share. Revenues and other income for the quarter rose to $924.73 million from $805.19 million in the prior year quarter. Analysts expected the company to report earnings of $0.97 per share on revenue estimate of $726.98 million for the quarter.

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QEP Resources Inc (NYSE:QEP) reported a second quarter net loss of $700 thousand or break-even per share, as compared to a net profit of $92.8 million or $0.52 per share in the same period last year. Adjusted income for the quarter dropped to $54.6 million or $0.31 per share, as against $75.4 million or $0.42 per share in the prior-year quarter. Total revenues plunged to $499.3 million from $808.1 million in the prior-year quarter. Analysts expected the company to earn $0.33 per share on revenue estimate of $612.29 million for the quarter.

EXCO Resources Inc (NYSE:XCO) shares gained 1.14% to $7.12 in the after hour trading after the company reported second-quarter net loss of $496.43 million or $2.32 per share, as compared to net income of $82.36 million or $0.38 per share in the same quarter last year. Adjusted net income for the quarter declined to $11.47 million from $39.17 million in the prior year quarter. On a per share basis, net income was $0.05, down from $0.18 last year. Oil and natural gas declined to $117.98 million from $206.83 million in the prior year quarter. Analysts expected the company to report a loss of $0.01 per share on revenue estimate of $145.28 million for the quarter.

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