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What: Shares of ATP Oil & Gas
So what: In the fourth quarter, revenues increased 90.7%, to $141.7 million, but the loss per share ballooned to $4.06 per share. Excluding one-time items, the loss would have been $14.6 million. Production increased to 24.9 million barrels of oil equivalent from 21.1 million in the third quarter.
Now what: Production is increasing, but the massive loss per share is a little concerning, even though most of the items were non-recurring. The stock has recovered some of the losses after early selling, and with analysts expecting ATP to swing into a profit next year, there should be positive news ahead. I'm cautious on today's move and will wait to see tangible financial results before jumping in.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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