Barnwell Industries, Inc. Reports Third Quarter and Nine Months Ended June 30, 2023 Results
HONOLULU, Aug. 11, 2023 (GLOBE NEWSWIRE) -- Barnwell Industries, Inc. (NYSE American: BRN) today reported net losses of $717,000, $0.07 per share, and $865,000, $0.09 per share, for the three and nine months ended June 30, 2023, respectively, as compared to net earnings of $2,531,000, $0.25 per share, and $5,656,000, $0.59 per share, for the three and nine months ended June 30, 2022, respectively.
- Additionally, our nine-month results included a $201,000 foreign currency gain as the U.S. dollar weakened against the Canadian dollar.
- The Company ended the third quarter with $1,581,000 in working capital, which includes $2,572,000 in cash and cash equivalents.
- These statements include various estimates, forecasts, projections of Barnwell’s future performance, statements of Barnwell’s plans and objectives, and other similar statements.
- Forward-looking statements involve risks, uncertainties and assumptions which could cause actual results to differ materially from those contained in such statements.