DNR Reports 4Q12 Earnings

Press release here.

Denbury Resources Inc. today announced adjusted net income of $137 million for the fourth quarter of 2012, or $0.36 per diluted share. This compares to $127 million of adjusted net income, or $0.33 per diluted share for the third quarter of 2012, and $175 million of adjusted net income, or $0.45 per diluted share, for the prior year fourth quarter. Fourth quarter of 2012 net income was $115 million, or $0.30 per diluted share, on quarterly revenues of $603 million. This compares to net income of $85 million, or $0.22 per diluted share, on revenues of $595 million for the third quarter of 2012, and net income of $53 million, or $0.13 per diluted share, on revenues of $612 million for the prior year fourth quarter.

Adjusted cash flow from operations for the fourth quarter of 2012 was $316 million, but would have been $358 million if the increase in current income taxes related to the Bakken transaction were excluded. This compares to adjusted cash flow from operations of $350 million for the third quarter of 2012and $387 million for the prior year fourth quarter. Net cash provided by operating activities (the GAAP measure) was $385 million for the fourth quarter of 2012, compared to $294 million for the third quarter of 2012 and $366 million for the prior year fourth quarter.

Beats, 36 cents vs 29 cents.