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Monday, October 25, 2010 11:49:04 AM
Revenue for the three month period ended June 30, 2010 decreased to $150,306 from $171,268 for the comparable period ended June 30, 2009, a decrease of 12%. Revenue for the six month period ended June 30, 2010 increased to $337,465 from $333,677, an increase of 1%. The decrease in revenue over the three month comparative periods was due to a decrease in selling prices for oil and gas and production decreases in production due to problems associated with certain wells. Revenue remained relatively consistent over the six month comparative period. Allied anticipates that revenue will increase in the near term in line with production growth.
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