Harvest Natural Resources (HNR) Posts Q4 adj.-Loss of 9c/Share

Harvest Natural Resources (NYSE: HNR) reported Q4 EPS of ($1.42), versus ($4.23) reported last year.

The fourth quarter 2015 results include exploration charges of $0.6 million, or $0.01 pre-tax per diluted share, and non-recurring items of (i) loss on the impairment of the Gabon Dussafu Block of $23.6 million, or $0.46 pre-tax per diluted share; (ii) loss on the impairment of equity investment in Petrodelta, S.A. (Petrodelta) of $84.0 million, net to Harvest's 51 percent interest in Harvest-Vinccler Dutch Holding B.V. (Harvest Holding), or $1.63 pre-tax per diluted share; (iii) gain on the change in fair value of warrant liabilities of $22.1 million, or $0.43 pre-tax per diluted share; (iv) gain on the change in fair value of derivative assets and liabilities of $1.5 million, or $0.03 pre-tax per diluted share; and (v) income tax benefit of $15.8 million, or $0.31 per diluted share. Adjusted for exploration charges and these non-recurring items, Harvest's fourth quarter net loss, unadjusted for any income tax effects, would have been $4.4 million, or $0.09 per diluted share.

For earnings history and earnings-related data on Harvest Natural Resources (HNR) click here.

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