WASHINGTON (dpa-AFX) - Plains Exploration & Production Co. (PXP) Thursday released the results for the first quarter ended 31 March 2012, reporting net loss attributable to common stockholders for the first quarter of $82.3 million, or $0.64 loss per share versus a net profit of $71.0 million, or $0.49 per diluted share reported for the corresponding quarter last year.
On a non-GAAP basis, adjusted net income attributable to common stockholders increased 47 percent during the first quarter of 2012 to $77.0 million, or $0.58 per diluted share from adjusted net income of $52.4 million, or $0.37 per diluted share, reported for the year-ago quarter.
On average, 18 analysts polled by Thomson Reuters expected earnings per share of $0.64 for the quarter. Analysts' estimates typically exclude one-time items.
Total revenues for the first quarter increased 22 percent to $524.3 million from $430.31 million reported for the prior year quarter. Analysts estimated revenues of $550.79 million for the quarter.
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