InterOil Slips To Loss In Q4 - Quick Facts

(RTTNews) - InterOil Corp. (IOC) reported that its fourth-quarter net loss was $24.81 million compared to net profit of $18.55 million in the same quarter last year. On a per share basis, net loss was $0.51, compared to profit of $0.38 in the previous year.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.04 per share for the quarter. Analysts' estimates typically exclude special items. Total revenues for the quarter rose to $398.90 million from $356.44 million in the prior year quarter.

InterOil's Chief Executive, Dr. Michael Hession said, "We also took significant steps to streamline our operations, bearing down on costs and rationalizing our offices and staffing. We announced the closure by the end of 2014 of our Cairns office, with the transfer of most functions to our office in Port Moresby. Though painful, it was important to align InterOil and ensure we focus our human and financial resources where they can have the greatest impact."