Mexco Energy Corporation (MXC) Reports Profit in Fiscal 2010
Mexco Energy Corp. reported net income of $0.4 million, or $0.21 per diluted share, in fiscal 2010, which ended 3/31/2010. The company reported net income of $1.2 million, or $0.61 per diluted share, in fiscal 2009. Sales also showed a sharp decline in fiscal 2010 compared to fiscal 2009. Mexco Energy Corporation reported sales of $3.2 million in fiscal 2010 compared to $4.9 million in fiscal 2009. The management of Mexco Energy Corporation attributed the reduced revenue and net income to the year over year decrease in prices realized for oil and gas production. The company realized an average price…