Adams Resources & Energy, Inc., together with its subsidiaries, engages in marketing crude oil, natural gas, and petroleum products. It purchases crude oil, and arranges sales and deliveries to refiners and other customers in Texas and Louisiana with additional operations in Michigan and New Mexico. Adams Resources & Energy, Inc. trades on the “American Stock Exchange” under the stock symbol “AE”. For More information regarding “AE”, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
Join today and be part of the best free investment newsletter on the web where we focus on market moving news.
Adams Resources & Energy, Inc. (Amex: AE) announced an unaudited fourth quarter 2009 net loss of $1,094,000 or $.26 per common share on revenues totaling $511,618,000. This compares to an unaudited fourth quarter 2008 net loss of $6,332,000 or $1.50 per share on revenues of $625,010,000. For the full year of 2009, net earnings totaled $4,149,000 or $.98 per share on revenues of $1,943,128,000. The Company paid an annual cash dividend of $.50 per share during the fourth quarter of 2009 which was consistent with the 2008 annual cash dividend. Net cash provided by operating activities totaled $22,285,000 for the year 2009. The Company continues to have no bank debt or other forms of debenture obligations. Cash balances at December 31, 2009 totaled $16,806,000.
About Adams Resources & Energy Inc:
Adams Resources & Energy, Inc., together with its subsidiaries, engages in marketing crude oil, natural gas, and petroleum products. It purchases crude oil, and arranges sales and deliveries to refiners and other customers in Texas and Louisiana with additional operations in Michigan and New Mexico; and purchases, distributes, and markets natural gas, as well as markets branded and unbranded refined petroleum products, such as motor fuels, including automotive gasoline, biodiesel, and conventional diesel fuel; and lubricants, including passenger car motor oils, and industrial oils and greases. The company also involves in the railroad servicing industry, including fueling and lubricating locomotives, as well as performing routine maintenance on the power units; and operates as a direct-to-vessel marine fuel and lube vendor. In addition, it transports liquid chemicals on a ‘for hire’ basis in the continental United States and Canada, as well as engages in the exploration, development, and production of domestic oil and natural gas properties in Louisiana and Texas Gulf Coast. As of December 31, 2008, the company held interest in 323 wells. Adams Resources & Energy, Inc. was founded in 1973 and is headquartered in Houston, Texas.
You can contact us during market hours at 1-888-9-ClubGrand (1888-925-8247) or via email at staff@wallstreetgrand.com.
Safe Harbor
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act") including 2009 growth, revenue for the second quarter and year of 2009 and gross margin for the second quarter and year of 2009. Additionally, words such as "seek," "intend," "believe," "plan," "estimate," "expect," "anticipate" and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the impact of intense competition, the continuation or worsening of current economic conditions and the condition of the domestic and global credit and capital markets.
Disclaimer:
Wall Street Grand LLC has not been compensated by the company for this press release and does not expect to be compensated in the future for any type of awareness. To read our full disclaimer clicks the link http://www.wallstreetgrand.com/disclosure.html
