Altex Industries, Inc. Reports Earnings Results for the Third Quarter Ended June 30, 2020
July 31, 2020 at 05:12 pm
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Altex Industries, Inc. announced earnings results for the third quarter ended June 30, 2020. For the third quarter, the company announced total revenue was USD 4,000 compared to USD 12,000 a year ago. Operating loss was USD 33,000 compared to USD 26,000 a year ago. Net loss was USD 31,000 compared to net income of USD 27,000 a year ago. For the nine months, total revenue was USD 28,000 compared to USD 43,000 a year ago. Operating loss was USD 93,000 compared to USD 84,000 a year ago. Net loss was USD 75,000 compared to net income of USD 19,000 a year ago. Basic loss per share from continuing operations was USD 0.01.
Altex Industries, Inc. is a holding company. The Company, through its operating subsidiary, Altex Oil Corporation (AOC), owns interests in onshore oil and gas properties, has bought and sold producing oil and gas properties. The Company has also participated in the drilling of exploratory and development wells, and in recompletions of existing wells. All of AOC's interests are in properties operated by others. The operators of producing properties in which AOC has an interest sell produced oil and gas to refiners, pipeline operators, and processing plants. The Company's estimated reserves are 1,300 barrels of developed oil reserves associated with its 4.4% override in the Glo Field in Campbell County, Wyoming. The Company owns small mineral interests in Utah. All the Company's production is located in Utah and Wyoming.
ALTEX INDUSTRIES, INC. 
