Amen Properties Reports Financial Results for First Quarter Ended March 31, 2017
June 21, 2017 at 05:30 pm IST
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Amen Properties reported financial results for first quarter ended March 31, 2017. For the quarter, the company noted revenue of $813,000 and net income of $492,000 or $9.26 per diluted share. These results compare to revenue of $322,000 and net loss of $894,000 or $16.82 per diluted share, for the same quarter last year. The increases in revenue and profitability were driven by rising commodity prices for oil and gas and significant losses recognized in 2016 from the sale of marketable securities.
AMEN Properties, Inc. owns a portfolio of properties, including real estate and oil and gas interests. The Company has investments in real estate and SFF Royalty, LLC. The Company also holds an interest in SFF Production, LLC. The Company owns oil and gas royalty and working interests in various states. The Company also holds interest in NEMA Properties LLC (NEMA), AMEN Delaware LP (Delaware) and AMEN Minerals LP (Minerals).