In recent times, Houston Natural Resources Corporation (OTCMKTS:HNRC) has made some significant moves and come into considerable focus among investors. Yesterday, the company was in the news once again after it announced its financial results for the second fiscal quarter that ended on June 30, 2022.
The company announced that in the second fiscal quarter it had managed to bring in revenues to the tune of as much as $5,125,473 and in the first six months of the year, the revenues stood at $8,687,641. The revenues first the first six months of the year actually reflected a 41% rise from the revenues of $7,614,534 that had been generated by the company in the first six months of 2021.
It is clear to see that the performance in the first six months of the year from Houston Natural Resources Corporation was quite strong and it is going to be interesting to see if the stock can manage to go on a strong move over the course of the coming days or not. On the other hand, the net income for the first six months of the year stood at $5,526,987 and that reflected a year-on-year rise of as much as 38% from the $4,006,260 in net income that had been generated in the prior year period.
That worked out to earnings per share of $0.18 for the six months of 2022. On the other hand, the net assets under Houston Natural Resources Corporation’s control at the end of June 30, 2022, were valued at $74,111,221 and the value of the net assets per share came in at $2.43.
It should be noted that in the first quarter of the year Houston Natural Resources Corporation had been responsible for acquiring a special purpose acquisition company in the form of HNR Acquisition Corp and raised $86 million by way of a business combination.