XTO Energy (XTO)

[MrBankRoll]

I guess some people don't like record production and earnings........

April 23, 2008 - 8:31 AM EDT

XTO Energy Announces 1Q Earnings and Record Production
FORT WORTH, Texas, April 23 /PRNewswire-FirstCall/ -- XTO Energy Inc. (NYSE: XTO) today reported record first quarter 2008 production of 2.11 billion cubic feet equivalent (Bcfe) per day, up 32% from the first quarter 2007 level of 1.60 Bcfe per day. Total revenues for the first quarter were $1.67 billion, a 43% increase from $1.17 billion the prior year. Earnings for the quarter were $465 million, or $0.94 per share ($0.92 diluted), compared with first quarter 2007 earnings of $383 million, or $0.83 per share ($0.82 diluted). First quarter 2008 earnings include the effects of a non-cash derivative fair value gain. Excluding this non-cash change, the Company's adjusted earnings were $456 million, or $0.92 per share ($0.91 diluted), compared to first quarter 2007 adjusted earnings of $406 million, or $0.89 per share ($0.87 diluted).(1)