Houston: Home to edge Petroleum.
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Gas prices blunt Edge earnings
Houston-based energy company Edge Petroleum was hit by lower natural gas prices, record second quarter net income of $5.7 million, or 32 cents per diluted share, down from $7.2 million, or 40 cents per diluted share, in the same period in 2005.
Quarterly revenue grew to $33.9 million from $26.2 million in the second quarter of 2005.
Earnings for the first six months of 2006 grew to $12.7 million, or 70 cents per share, from $11.9 million, or 67 cents per share, in the first half of 2005.
Revenue for the first six months of this year rose to $68.9 million from $49.2 million.