Goodrich Petroleum (AMEX:GDP) announced that net income fell by 10 percent to $10.9 million, or 30 cents per share, from $12.1 million, or 33 cents per share, a year ago for the quarter that ended on September 30. Revenue was lower by 17 percent to $46.0 million, below expectations of $65 million.
Shares are lower by about 11.6 percent.
Earlier this week, rival EOG Resources (NYSE:EOG)reported that third-quarter net income was lower by 34 percent versus last year, though earnings beat estimates.
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