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Pyramid Oil Co. (AMEX:PDO) announced that its fiscal results for the first quarter of 2012 include increases in revenue and net income.
Pyramid Oil Co. (AMEX:PDO) announced that its fiscal results for the first quarter of 2012 include increases in revenue and net income.
As quoted in the press release:
First quarter revenue increased to $1.4 million from $1.3 million in the same quarter of fiscal 2011. The increase was attributable to higher crude oil prices, which increased by $14.70 per average barrel of oil equivalent (BOE) to $111.82 from $97.12 per average BOE in the 2011 first quarter.
Operating income increased to $457,000, up 21% from $376,000 in the first quarter last year. Net income increased 16% to $372,000, or $0.08 per share, from $320,000, or $0.07 per share, during the 2011 first quarter.
Click here to read the full Pyramid Oil Co. (AMEX:PDO) press release.