Mesa Inc., the natural gas company facing pressure from dissident shareholders to find a buyer or merger partner, on Thursday reported a 45 percent narrower second-quarter loss.
Still, the troubled company’s stock price fell about 6 percent, or 25 cents per share, to $3.87-1/2 on the New York Stock Exchange.
Mesa lost $13.9 million, or 22 cents per share, for the period ending June 30, compared with a loss of $25.3 million, or 43 cents per share, in the second quarter of 1994.
Mesa’s heavy debt - about $1.2 billion worth - has been undermining its finances. The company’s net interest expense was $32 million in the quarter.