RSP Permian Posts Q1 Pro-forma Profit Of $14.7 Mln

(RTTNews) - RSP Permian Inc. (RSPP) said that on a pro forma basis, its first-quarter 2014 net income was $14.7 million or $0.20 per share. The recent quarter net income included a $3.8 million non-cash loss on derivatives and other income.

Adjusted net income for the latest-quarter was $17.0 million, or $0.23 per share.

Net loss for the quarter was $127.53 million or $2.03 per share, compared to net income of $12.87 million in the previous year.

Total revenues for the quarter were $57.76 million, compared to $24.66 million last year. On a pro forma basis, total revenues for the latest-quarter were $62.74 million.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.19 per share and revenues of $57.97 million for the quarter. Analysts' estimates typically exclude special items.