By Ben Glickman
Shares of Evolution Petroleum declined after the company reported a drop in revenue for the fiscal fourth quarter.
The stock was down 12% to $7.75 in after-hours trading on Tuesday, and fell 1.5% in market trading. Shares have risen 17% this year.
The Houston-based oil and natural gas company reported that revenue sank 57% to $18.2 million in the quarter-ended June 30 compared with the same period a year earlier. The company said it saw lower volumes and realized prices for oil and natural gas compared with the previous quarter.
The company broke even in the quarter on a per-share basis, compared with a profit of 44 cents a share a year earlier.
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