Western Gas Resources Inc., a Denver-based natural-gas company, on Tuesday posted a 93 percent jump in third-quarter profit, helped by a combination of production growth and higher commodity prices. Western Gas said net income for the latest period rose to $67.7 million, or 88 cents a share, from $35.1 million, or 47 cents a share, a year earlier. The results trounced the average estimate of analysts surveyed by Thomson Financial for third-quarter earnings of 74 cents a share. Revenue surged to $1.05 billion from $718.3 million a year ago. Western Gas expects 2005 production at the upper end of its projection for growth of 10 to 15 percent.
KFx Inc. The Denver-based provider of clean, energy-rich coal on Tuesday posted a net loss of $4.9 million, or 9 cents per share, compared with a loss of $1.8 million, or 3 cents per share, in the same period of 2004. The company said in a release that the results reflect higher expenses as the company nears production at its 750,000-ton-per-year K-Fuel plant and mine project in Wyoming. Revenues were $100,000 for the period ended Sept. 30.
Dynamic Materials Corp. The Boulder-based provider of explosion-welded clad metal plates on Tuesday said third- quarter net income rose 278 percent to $3.2 million, or 52 cents per diluted share, compared with $800,000, or 16 cents a share, in the third quarter last year. Sales in the quarter grew 68 percent to $20.2 million, versus $12.1 million last year.
