Earthstone Energy Inc. (NYSE MKT:ESTE), an oil exploration company, announced its third quarter income for the fiscal 2013 at $370,000 on revenue of $2.8 million.
As quoted in the press release:
These results were due to both decreases in oil and gas prices and oil and gas sales volumes in 2013 as compared to 2012. In addition, total revenue and net income declined as the result of the sale of a group of Colorado properties in the comparable prior year period that did not contribute to this quarter coupled with an uncharacteristic, one-time, positive revenue adjustment that occurred in the 3rd quarter of fiscal 2012.
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