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For the second quarter ended April 30, 2009, the company reported a net loss of$4,710,000, or $.46 per basic share, reflecting an additional $4,898,000, aftertax, non-cash write-down to reduce the book carrying value of oil and gasproperties. Last year, the company reported a second quarter net loss of$880,000, or $.09 per basic share due to hedging losses. Lower product pricescaused revenue to fall 52% to $2,353,000 for the second quarter compared to$4,942,000 last year James T. Working capital increased 35% to $14,255,000compared to $10,569,000 last year. Last year, first half net income was $693,000, or $0.07 per basic share.Lower product prices caused revenue to fall 49% to $4,461,000 for the first halfcompared to $8,675,000 last year. For the first six months of 2009, Credo reported a net loss of $14,601,000, or$1.41 per basic share, reflecting a $15,038,000 after tax,Anita Baker non-cash write-downto reduce the book carrying value of oil and gas properties and long livedassets.Anita Baker tickets Antenna Group for CalCEF InnovationsLara Sasken, Copyright Business Wire 2009.
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