Oklahoma earnings in brief

PostRock Energy Corp. and ADDvantage Technologies Group report first-quarter earnings
From Staff Reports Published: May 14, 2014


Postrock Energy Corp.

PostRock Energy Corp. posted a net loss of $7.9 million, or 50 cents a share, in the first quarter, the company reported Tuesday. PostRock lost $6.2 million, or 25 cents a share, in the same period of last year. The company also saw its total production dip slightly due to extreme winter weather, but it managed to increase oil production by 17 percent. PostRock’s production was up 120 percent in central Oklahoma, where it plans to spend $20 million on new wells this year.

ADDvantage Technologies Group

ADDvantage Technologies Group Inc. on Tuesday reported a net loss of 300,000, or 3 cents a share, for the first quarter. The company earned $300,000, or 3 cents a share, in the same period of 2013. ADDvantage attributed its decrease in net income to expenses related to its acquisition of Nave Communications and increased personnel costs in its cable television segment. “During the quarter, we continued to move forward with our growth strategy,” CEO David Humphrey said. He said the Nave acquisition will help capitalize on growth opportunities in the cable television and telecommunications industries.

From Staff Reports

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