Altex Industries, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended March 31, 2022
May 06, 2022 at 05:06 pm EDT
Share
Altex Industries, Inc. reported earnings results for the second quarter and six months ended March 31, 2022. For the second quarter, the company reported revenue was USD 0.005 million compared to USD 0.003 million a year ago. Net income was USD 0.404 million compared to net loss of USD 0.049 million a year ago. Basic earnings per share from continuing operations was USD 0.03.
For the six months, revenue was USD 0.026 million compared to USD 0.011 million a year ago. Net income was USD 0.39 million compared to net loss of USD 0.077 million a year ago. Basic earnings per share from continuing operations was USD 0.03 compared to basic loss per share from continuing operations of USD 0.01 a year ago.
Altex Industries, Inc. is a holding company. The Company, through its operating subsidiary, Altex Oil Corporation (AOC), owns interests in onshore oil and gas properties, has bought and sold producing oil and gas properties. The Company has also participated in the drilling of exploratory and development wells, and in recompletions of existing wells. All of AOC's interests are in properties operated by others. The operators of producing properties in which AOC has an interest sell produced oil and gas to refiners, pipeline operators, and processing plants. The Company's estimated reserves are 1,300 barrels of developed oil reserves associated with its 4.4% override in the Glo Field in Campbell County, Wyoming. The Company owns small mineral interests in Utah. All the Company's production is located in Utah and Wyoming.
ALTEX INDUSTRIES, INC. 
