Evolution Petroleum grows revenue but posts an adjusted quarterly loss
Evolution Petroleum ($EPM) reported fiscal fourth-quarter revenue of $24.2 million, up 15% from a year earlier and 20% from the preceding quarter. Production averaged 6,901 barrels of oil equivalent per day, down 4% year over year but up 3% sequentially. Higher realized prices helped support the revenue increase despite lower annual-comparison production. Reported net income was approximately $4.6 million, while adjusted net income was a loss of about $587,000. Adjusted EBITDA reached $6.5 milli
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