Net Income is the net profit that a company earns after deducting all costs and losses including cost of goods, SGA, DDA, interest expenses, non-recurring items and tax. Miller Energy Resources's Net Income for the
three
months ended in Jan. 2015 was $-152.26 Mil. Its Net Income for the trailing twelve months (TTM) ended in Jan. 2015 was $-345.57 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Net Income is the net profit that a company earns after deducting all costs and losses including cost of goods, SGA, DDA, interest expenses, non-recurring items and tax.
Net Income for the trailing twelve months (TTM) ended in Jan. 2015 adds up the quarterly data reported by the company within the most recent 12 months, which was $-345.57 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Miller Energy Resources (OTCPK:MILOQ.PFD) Net Income Explanation
Net Income is the most widely cited number in reporting a company's profitability. It is linked to the most popular earnings-per-share (EPS) number through:
Miller Energy Resources's Earnings per Share (Diluted) (EPS) for the quarter that ended in Jan. 2015 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
EPS is most useful for companies that have:
A predictable business
Consistent accounting methods
And few restructurings
The dividend paid to preferred stocks needs to be subtracted from the total net income in the calculation of EPS because common stock holders are not entitled to that part of the net income.
Be Aware
Warren Buffett looks for consistency and upward long term trend. Because of share repurchase it is possible for net earnings trend to differ from EPS trend. He preferred Net Income over EPS. The companies with durable competitive advantage companies report higher % net earnings to total revenues.
Important: If a company is showing net earnings history greater than 20% on total revenues, it is probably benefiting from a long term competitive advantage.
If net earnings is less than 10%, likely to be in a highly competitive business.
Miller Energy Resources Net Income Related Terms
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Miller Energy Resources (Miller Energy Resources) Business Description
Miller Energy Resources Inc was formed in Delaware in November 1985. In January 1997, it acquired Miller Petroleum, Inc., a privately-held company, in a reverse merger in which Miller Petroleum, Inc. In conjunction with this transaction, the Company changed its name to Miller Petroleum, Inc. and re-domesticated to the State of Tennessee. The Company is an exploration and production company that utilizes seismic data and other technologies for the geophysical exploration, development and production of oil and natural gas wells in the Cook Inlet Basin of southcentral Alaska and the Appalachian region of eastern Tennessee. The Company focuses its efforts on activities in the Cook Inlet and Susitna Basins of Alaska as well as the Appalachian region of East Tennessee. The Cook Inlet Basin contains large oil and gas deposits including multiple offshore fields. The Cook Inlet is a vast estuary stretching 180 miles from the Gulf of Alaska to Anchorage in southcentral Alaska. The Inlet separates the Kenai Peninsula in the east from the Alaska Peninsula in the west. The Cook Inlet Basin underlying this region contains large oil and gas deposits including several offshore fields. There are also numerous oil and gas pipelines located in and under the Cook Inlet. The Cook Inlet Basin has produced approximately 1.3 billion barrels of oil and 7.8 trillion cubic feet ('tcf') of natural gas. The Susitna Basin underlies the sprawling Susitna River valley to the north of Anchorage. The Susitna Basin lies directly north of the Cook Inlet Basin, separated by the Castle Mountain Fault, and has similar geology. Wells drilled within its acreage range from approximately 1,500 to 4,200 feet in depth with major targets in descending order being: the Mississippian age Monteagle Limestone and Fort Payne Limestone, and the Devonian age Chattanooga Shale, with the Fort Payne Limestone being the primary oil target. The existing markets for natural gas production in southcentral Alaska are the Tesoro Nikiski Refinery, utility companies, petrochemical manufacturing, the production of LNG for export to Asian markets, and the production of synthetic crude oil ('syncrude'). Presently, its sole market for crude oil produced from its Alaskan operations is the Tesoro Nikiski Refinery. Crude oil is shipped by pipeline and tanker vessel to the Tesoro Nikiski Refinery, operated by Tesoro Alaska Petroleum Company ('Tesoro'). It competes with a number of other companies doing business in Alaska, Tennessee and elsewhere, including large oil and gas companies and other operators. The Company's exploration and production business is subject to various federal, state and local laws and regulations on the taxation of natural gas and oil, the development, production and marketing of natural gas and oil and environmental and safety matters.
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