ZaZa Energy (ZAZA) Rips Higher on Huge Q3 Profits, Sales Results

November 13, 2012 10:53 AM EST
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Price: $0.02 -60%

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ZaZa Energy Corp. (Nasdaq: ZAZA) is putting on a solid performance Tuesday, as the Houston-based E&P company reported robust third-quarter results earlier.

The company reported earnings of $1.02 per share in the quarter, a complete 180-degree turn from a loss of 3 cents per share in the same period last year. Revs made an even more remarkable gain, popping from $4.4 million in Q311 up to $207.2 million in the recent period.

Despite the 24 percent gains on the session, investors will be looking for more. As of Monday's close, ZaZa was down over 65 percent from highs above $4.20 hit last February, with a 52-week high of $5.18 realized in early May.


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