Dallas, Texas 09/04/2013 (Financialstrend) – In the recently presented earnings reports for the second quarter of fiscal year 2013, EXCO Resources Inc (NYSE:XCO) had recorded non GAAP adjusted net income to be at $0.10 per diluted share of the company, compared to the adjusted net income at $0.05 per diluted share reported for the same quarter of previous year. The adjusted EBITDA for the second quarter was reported to be at $90 million, compared to the adjusted EBITDA reported at $112 million for the second quarter of FY2012. Further, the net income for the company was reported to be at $86 million or at $0.40 per diluted share, compared to the net loss of $496 million or at $2.32 per share reported for the same quarter of previous year.
It is worth noting that the heavy net losses reported for the same period of previous year were found to include the charges of $429 million for pre tax non cash ceiling test write down for the oil and natural gas properties of the company. The revenues for the second quarter of 2013 were reported to be at $150 million compared to the revenues of $118 million reported for the previous year.
Shares of EXCO Resources Inc (NYSE:XCO) dipped on Tuesday to close at $7.23 per share, a decrease of 0.69% over the previous close. The stock prices for the day traded in the range of $7.17 to $7.50 per share. For the past 52 weeks, the stock had presented low price at $5.97 and high price at $9.08 per share. The stock managed to pull in around 1.69 million trades on Tuesday, while the average level for the past 30 days of trading is at 2.35 million shares per day. There are presently 217.55 million outstanding shares for the company and the institutional ownership is at 86%.