It was another heavy day for earnings from corporate Canada Wednesday as Talisman Energy Inc. (TSX: T.TLM, Stock Forum) said quarterly net income was $491 million, or 47 cents per share, compared to a net loss of $213 million or 21 cents per share in the first quarter last year.
Talisman Energy also reports cash flow of $616 million in the quarter, up six per cent from the previous quarter and a six per cent boost in production to 360,000 barrels of oil equivalent per day.
The shares rose 1.3% to $11.28 in early trading.
“Talisman is a more focused company with a stronger performance compared to one year ago,’’ said Hal Kvisle, Talisman’s President and CEO in a press release.