Comstock Resources, Inc. - Form 8-K Summary
Business Context and Reporting Period
Comstock Resources, Inc. filed this Current Report on Form 8-K on August 7, 2003. The filing announces financial results for the three months and six months ended June 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 but does not reproduce the figures within the body of the 8-K.
The company discloses the use of non-GAAP financial measures in its reporting, specifically:
- Operating Cash Flow: Presented as a useful metric for investors.
- EBITDAX: Defined as earnings before interest, income taxes, depreciation, depletion, amortization, and exploration expense. Management notes this is a common alternative measure used by investors and analysts.
The filing states that reconciliations between these non-GAAP measures and the most directly comparable GAAP measures are provided in the attached press release.
Material Changes and Outlook
The filing text does not contain specific data regarding material changes versus prior periods, future guidance, management commentary on operational trends, risks, contingencies, or unusual items. These details are contained exclusively within the referenced Exhibit 99.1 press release.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release dated August 7, 2003) for specific revenue, net income, and cash flow figures for the periods ended June 30, 2003.
- Verify the reconciliation of EBITDAX and Operating Cash Flow to GAAP net income as provided in the press release.
- Compare the reported three-month and six-month results against the same periods in the prior year to assess material changes.
- Check the press release for any updated guidance or discussion of operational risks not detailed in this 8-K summary.