Forest Oil Announces First Quarter 2008 Results Including Records for Adjusted Net Earnings, Adjusted EBITDA and Discretionary Cash Flow (Business Wire)
DENVER—-Forest Oil Corporation today announced financial and operational results for the first quarter 2008. For the quarter ended March 31, 2008, the Company reported the following highlights: Record adjusted net earnings of $92.7 million, up 141% over $38.4 million in 2007, on revenues of $376.5 million Record adjusted EBITDA of $294.1 million, up 88% over $156.5 million in 2007 Record discretionary cash flow of $265.2 million, up 116% over $123.0 million in 2007 Announced strategic shift in the Company’s capital allocation policy from one of spending within cash flow to one of spending in excess of cash flow