Rosetta Resources Profit Declines, But Beats Estimates; Revenue Misses

(RTTNews) - Rosetta Resources Inc. (ROSE) Monday said its fourth quarter profit declined to $29.5 million or $0.48 per share from $42.3 million or $0.80 per share last year.

On an adjusted basis, net income for the quarter climbed to $51.0 million or $0.83 per share from $42.0 million or $0.79 per share a year ago, due mainly to production growth in core areas. On average, twenty-six analysts polled by Thomson Reuters expected earnings of $0.79 per share for the quarter. Analysts estimates typically exclude one-time items.

Rosetta Resources' revenue for the fourth quarter improved to $204.8 million from $178.3 million in the similar quarter last year. Sixteen analysts had a consensus revenue estimate of $220.89 million for the quarter.

Revenues for the quarter including realized derivatives were $217.9 million, compared to $177.7 million a year ago.

Looking ahead, Rosetta Resources also reaffirmed its planned capital spending level and the previously announced full year 2014 production guidance range of 60 to 65 MBoe/d.

Rosetta Resources shares closed Monday's regular trade at $47.25, up $1.84 or 4.05%, on a volume of 2.33 million shares on the Nasdaq.