McMoRan Exploration Co. (NYSE:MMR) reported first quarter 2009 numbers this morning. The news was not good — an EPS loss of -$0.90, more than double analysts’ estimates of -$0.43, and down from EPS of $0.46 in the year ago quarter. Revenues came in at $97.38 million, below the $111.32 million analysts expected . In the same quarter a year ago, McMoRan posted revenues of $295.48 million, better than three times this quarters’ revenues.
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