Earthstone Energy Q3 net income decreases

Earthstone Energy, Inc., an oil and gas exploration and production company, has reported that net income for the third quarter ended December 31, 2012 was $370,000 or $0.22 per share, compared to $1.15 million, or $0.68 per share, for the same quarter ended December 31, 2011.

Total revenues for the third quarter ended December 31, 2012 were $2.83 million, compared to $3.87 million for the same quarter ended December 31, 2011.

Net income for the nine months ended December 31, 2012 was $1.13 million, or $0.65 per share, compared to $2.54 million, or $1.49 per share, for the same period ended December 31, 2011.

Total revenues for the nine months ended December 31, 2012 were $7.99 million, compared to $8.94 million for the same period ended December 31, 2011.