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What: Shares of TransAtlantic Petroleum (ASE: TAT) sank 10% today after the company released fourth-quarter earnings.
So what: Quarterly revenue was up 47% to $36.7 million, but fell short of the $38.1 million analysts expected. The company also lost $0.15 per share from continuing operations, well over the penny loss investors had expected.
Now what: After continued losses, investors appear to have lost all faith today. Analysts are only expecting a penny in profit per share next year, and if the company doesn't deliver, it could be bad news. The company's $80.7 million of short-term debt is only offset by $15.1 million in cash, and it doesn't have the cash flow to keep this up much longer.
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At the time thisarticle was published Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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