Magnum Hunter Posts Wider Pretax Loss From Cont. Ops. In Q2 - Quick Facts

(RTTNews) - Magnum Hunter Resources Corp. (MHR) reported a second-quarter loss from continuing operations, net of tax, of $11.19 million, compared to a loss of $20.73 million prior year. Loss from continuing operations before income tax widened to $48.56 million, from a loss of $23.73 million, prior year. Loss per share from continuing operations was $0.36, compared to a loss of $0.19, prior year.

The company reported net income to shareholders for the quarter of $151.31 million or $0.89 per share, compared to a loss of $22.71 million or $0.15 per share, prior year.

Adjusted for non-cash and non-recurring gains on asset sales and expenses, adjusted net loss to shareholders for the three months ended June 30, 2013 was $0.18 per share.

On average, 18 analysts polled by Thomson Reuters expected the company to report a loss of $0.12 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue rose to $84.04 million, from $42.46 million last year. Analysts expected revenue of $92.16 million for the quarter.