Shares of Altex Industries Inc. (PINK: ALTX), a holding company owning interests in productive onshore oil and gas properties in Utah and Wyoming, are seeing a huge rally in trading today.
At last check, ALTX shares were trading 85% higher at $0.185 on above average volume of 1.17 million. The stock touched an all-time high of $0.30 in trading today.
According to a filing made by Altex Industries last week, the company had total revenue of $41,000 for the three-month period ended March 31, 2012, up from $28,000 reported in the three-month period ended December 31, 2011.
ALTXâ€™s gross profit for the March quarter was $38,000, compared to $27,000 reported for the December quarter. The company posted an operating loss of $55,000 for the quarter ended March 31, 2012, compared to an operating loss of $106,000 reported for the quarter ended December 31, 2011.
Net loss for the three-month period ended March 31, 2012 was $60,000, compared to $101,000 reported for the three-month period ended December 31, 2011.