For Kodiak Oil & Gas (NYSE: KOG), the money is really flowing these days. The company announced robust gains in its Q3 results, revealing that for the period it took in revenues of just under $300 million. This was nearly triple the $112 million it posted in the year-ago quarter. Net income increased almost tenfold, coming in at $31.2 million ($0.12 per diluted share) against Q3 2013's $3.5 million ($0.01).
In spite of the increases, the company's net came in significantly below the average analyst estimate for EPS of $0.23. Collectively, those analysts expected a top line of $297 million.
Following the announcement of the results, Kodiak's shares were down slightly in after-hours trading. They sagged by 0.2%, or $0.02, to $12.95 per share.
