Credo Petroleum Corporation today reported record financial and operating results for the nine months ended July 31, 2006. Per share data has been adjusted to reflect the three-for-two stock split effective October 12, 2005.
For the first nine months of 2006, net income increased 31% to an all time high. For the period, net income was $4,373,000 on revenue of $12,255,000 compared to net income of $3,345,000 on revenue of $8,986,000 last year. On a per diluted share basis, net income was $.46 for the first nine months compared to $.36 last year. Earnings before interest, taxes, depreciation, depletion and amortization increased 39% to $8,711,000 compared to $6,284,000 last year.