Comstock Resources Inc. - Form 8-K Summary
Business Context and Reporting Period
Comstock Resources, Inc. filed this Current Report on Form 8-K on November 5, 2003. The filing announces financial results for the three months and nine months ended September 30, 2003. The company is incorporated in Nevada and maintains its principal executive offices in Frisco, Texas.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. The report references a press release (Exhibit 99.1) containing these details, including GAAP and non-GAAP measures such as Operating Cash Flow and EBITDAX, but the figures themselves are not included in the provided text.
Material Changes
The filing text does not provide specific data to compare current period results against prior comparable periods. It only confirms that results for the periods ended September 30, 2003, have been announced.
Guidance, Outlook, and Non-GAAP Measures
Management presented non-GAAP financial measures, specifically Operating Cash Flow and EBITDAX, believing them useful to investors. EBITDAX is defined as results from operations before interest, income taxes, and certain non-cash items including depreciation, depletion, amortization, and exploration expense. The filing states that reconciliations to GAAP measures are provided in the attached press release. No specific forward-looking guidance or risk factors are detailed in the text of this 8-K.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific revenue, net income, and cash flow figures.
- Verify the reconciliation between reported non-GAAP measures (EBITDAX, Operating Cash Flow) and GAAP equivalents.
- Compare the three-month and nine-month results ended September 30, 2003, against prior year periods to assess material changes.
- Confirm the company's current debt levels and liquidity position as detailed in the full earnings release.