Berry Petroleum Company Ranked by Forbes Magazine as One of America's 200 Best Small Companies.Business Editors TAFT, Calif.--(BUSINESS WIRE)--Oct. 18, 2001 Berry Berry, former province, France Berry (bĕrē`), former province, central France. Bourges, the capital, and Châteauroux are the chief towns. Petroleum Company (NYSE NYSE See: New York Stock Exchange :BRY), an independent heavy oil producer located in Kern County, California Kern County is a county located in the southern Central Valley of the U.S. state of California. Established in 1866, it extends east beyond the southern slope of the Eastern Sierra Nevada range into the Mojave Desert, and includes parts of the Western Indian Wells Valley, and , made its first appearance in Forbes magazine's October 29, 2001 list of "America's 200 Best Small Companies." Berry was ranked number 87 and was one of only seven oil and gas producers listed in this year's rankings, and the only California based oil company to be listed. In August 2001, Berry was honored hon·or n. 1. High respect, as that shown for special merit; esteem: the honor shown to a Nobel laureate. 2. a. Good name; reputation. b. by Fortune magazine for ranking 88th in their "100 Fastest-Growing Companies" list, based on various three-year measures. To qualify for the Forbes list, firms had to have a minimum five percent growth in sales and earnings over each of the last five years, excluding all nonrecurring and extraordinary items. The ranking was then based on six equally weighted metrics metrics Managed care A popular term for standards by which the quality of a product, service, or outcome of a particular form of Pt management is evaluated. See TQM. : return on equity, sales and earnings-per-share growth--each of them measured during the past five years and the most recent four quarters. Berry posted a five-year average return on equity of 17% (ranked 1st of the oil and gas producers, and 72nd overall), a five-year average earnings per share growth rate of 14% (ranked 165th) and a five-year average sales growth rate of 30% (ranked 68th). Jerry V. Hoffman, Chairman, President and Chief Executive Officer, said, "We are honored to be included in this Forbes listing, since less than one percent of those companies eligible made the list. Our listing illustrates that we are successfully growing our business in a profitable manner. Berry has earned $31 million on revenues of $178 million in the last four quarters (through June 30, 2001) for a net income margin of 17% of revenues. Our stock has responded to our performance this year and is up approximately 30% since January 1, 2001." Berry Petroleum Company is a publicly traded independent oil and gas production and exploitation company located in Taft, California Taft is a city in Kern County, California, United States. The population was 6,400 at the 2000 census. Adjoining the town to the north is the unincorporated area called Ford City. On the south end of Taft's municipal border is another unincorporated area known as South Taft. . As of June 30, 2001, Berry had 22,034,000 shares outstanding, a market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of approximately $365 million and net debt of $16 million. Berry also pays a dividend of $.10 per quarter for an approximate current yield of 2.2%. Visit www.bry.com for more information. |
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