Glori Energy Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015
For the six months, the company reported total revenues of $5,199,000 against $6,558,000 a year ago. Loss from operations was $7,210,000 against $4,676,000 a year ago. Net loss before taxes on income was $8,071,000 against $6,602,000 a year ago. Net loss was $7,900,000 or $0.25 per basic and diluted share against $6,744,000 or $0.26 per basic and diluted share a year ago. Net cash used in operating activities was $5,834,000 against $5,267,000 a year ago. Purchase of proved oil and gas property was $4,403,000 against $39,581,000 a year ago. Purchase of other property and equipment was $312,000 against $149,000 a year ago. Adjusted net loss was $6,518,000 or $0.21 per share against $6,630,000 or $0.25 per share a year ago. LBITDA was $4,719,000 against $3,392,000 a year ago. Adjusted LBITDA was $2,499,000 against $3,123,000 a year ago.