The Journal Record, March 8th, 2002
OKLAHOMA CITY (JR) -- Canaan Energy has reported a net loss of $8.9 million, or $1.83 per share, for 2001.
Canaan's loss for the year included a $21.7 pretax accounting charge in the fourth quarter. Without special charges, Canaan had net income for the year of $4.6 million, or 94 cents per share.
The oil and gas exploration and production company had net income of $2 million, or 52 cents per share, for 2000.
Revenues for the year totaled a record $28.4 million, up from $18 million for 2000.
Oklahoma City-based Canaan had a net loss for the fourth quarter of $13.7 million, or $2.91 per sha...
HighBeam Research, Free Preview: 'Canaan posts loss'... Full Membership required for unlimited access. Free 7-day trial.
Subscribers: HighBeam content is only available to HighBeam subscribers. Click the link above for more information.
