XTO figures show decrease in revenues

Energy producer XTO has reported first-quarter 2010 total revenues of $2bn (£1.3bn), a seven per cent decrease from $2.16bn in the prior year.

Earnings for the quarter were $330m, or $0.56 per share ($0.56 diluted), compared with first-quarter 2009 earnings of $486m, or $0.84 per share ($0.83 diluted).  

After adjusting for a $13m non-cash-derivative fair-value gain, adjusted earnings for first-quarter 2010 were $322m, or $0.55 per share ($0.55 diluted), compared to first-quarter 2009 adjusted earnings of $531m, or $0.92 per share ($0.91 diluted).

Operating income for the quarter was $656m – a 26 per cent decrease from first-quarter 2009 operating income of $881m – while operating cash flow was $1.25bn – down 16 per cent from operating cash flow of $1.49bn in first-quarter 2009.