Rosetta Resources Inc. Announces 2012 Financial and Operational Results and Provides 2013 Outlook

Rosetta Resources Inc. Announces 2012 Financial and Operational Results and
Provides 2013 Outlook

  *Achieved quarterly and annual all-time records in production and proved
    reserves
  *Attained double-digit growth in Eagle Ford production and reserves for all
    products versus 2011
  *Exited 2012 with self-funding Eagle Ford program
  *Updated 2013 capital estimate to reflect lower Eagle Ford well costs
  *Released higher 2013 volume guidance

HOUSTON, Feb. 25, 2013 (GLOBE NEWSWIRE) -- Rosetta Resources Inc.
(Nasdaq:ROSE) ("Rosetta" or the "Company") today reported fourth quarter 2012
net income of $42.3 million, or $0.80 per diluted share, versus net income of
$32.2 million, or $0.61 per diluted share, for the same period in 2011.
Adjusted net income (non-GAAP) for the quarter was $42.0 million, or $0.79 per
diluted share, excluding an unrealized gain on derivative activities of $0.6
million, or $0.4 million after-tax. Fourth quarter earnings also include a
$0.14 per diluted share impact related to stock-based compensation.

For the year ended December 31, 2012, Rosetta reported net income of $159.3
million, or $3.01 per diluted share, versus a net income of $100.5 million, or
$1.91 per diluted share, for the same period in 2011. Adjusted net income
(non-GAAP) for the year was $146.7 million, or $2.77 per diluted share,
excluding an unrealized gain on derivative activities of $19.7 million, or
$12.6 million after-tax, versus $1.90 per diluted share in 2011. Adjusted net
income increased versus 2011 primarily due to increased production and a
higher liquids mix. A summary of the adjustments made to calculate adjusted
net income is included in the attached "Non-GAAP Reconciliation Disclosure"
table.

"The momentum of our Eagle Ford development activities accelerated during 2012
as we achieved record levels of production, reserves, and cash flow, and ended
the year with a fully self-funding Eagle Ford program," said Randy Limbacher,
Rosetta's chairman, CEO and president. "Rosetta is on track to deliver another
year of double-digit production growth. In addition, we continue to advance
our efforts to capture new opportunities and further expand our substantial
inventory of projects."

2012 Fourth Quarter and Full Year Results

Production for the quarter averaged a record 44.3 thousand barrels of oil
equivalent per day ("MBoe/d"), an increase of 38 percent from the same period
in 2011 and 20 percent from the prior quarter. Production for the year
averaged an all-time annual record of 37.2 MBoe/d, up 35 percent from 2011.
The increase for all periods was a result of strong production growth from the
Eagle Ford area. The Company's 2012 exit rate averaged 47.3 MBoe/d. Oil and
natural gas liquids ("NGLs") production both reached all-time high levels for
the year ending December 31, 2012, increasing 87 percent and 69 percent
year-over-year, respectively. A summary of the Company's production results
and average sales prices by commodity is included in the attached "Summary of
Operating Data" table.

Revenues for the fourth quarter of 2012 were $178.3 million compared to $136.3
million for the same period in 2011. Fourth quarter revenues including
realized derivative activities were $177.7 million in 2012 and $128.4 million
in 2011. During the period, 81 percent of revenue was generated from oil,
condensate and NGL sales, including the effects of realized derivatives, as
compared to 74 percent a year ago.

For full-year 2012, revenues were $613.5 million compared to $446.2 million
for the same period in 2011. Full-year 2012 revenues including realized
derivative activities were $593.8 million in 2012 and $445.0 million in 2011.
For the year, 81 percent of revenue was generated from oil, condensate and NGL
sales including the effects of realized derivative instruments, as compared to
63 percent a year ago.

Direct lease operating expense ("LOE") for the fourth quarter decreased by 11
percent versus the third quarter on a per-unit basis. For full-year 2012,
direct LOE also declined by 11 percent versus the prior year. Production
growth from the Eagle Ford more than offset the operating costs of higher
volumes. The Company's fourth quarter treating and transportation expense
declined by five percent on a per-unit basis, from the third quarter. For the
year, treating and transportation per-unit expense is higher versus the prior
year but lower than the guidance range. A summary of the Company's results on
a per-unit basis is included in the attached "Summary of Operating Data"
table.

2012 Proved Reserves

As previously reported, proved reserves as of December 31, 2012 increased by
25 percent to 201 million barrels of oil equivalent ("MMBoe") comprised of
44.4 million barrels of crude oil and condensate, 71.6 million barrels of NGLs
and 509 Bcf of natural gas. Of total proved reserves, 58 percent are liquids
and 37 percent are classified as proved developed. Included in the total are
65.6 MMBoe of reserves additions primarily from continued success in the Eagle
Ford area offset by 10.6 MMBoe of reserves divested during the year and 1.7
MMBoe in net downward revisions primarily related to lower natural gas prices.

Rosetta replaced 472 percent of production from all sources at a reserve
replacement cost of $10.03 per Boe. The estimated standardized measure of
discounted future net cash flows from Rosetta's proved reserves at December
31, 2012 was $1.84 billion, representing an increase of 8 percent from the
prior year.

Operational Update

In the fourth quarter of 2012, Rosetta made capital investments of $160.5
million, drilling 22 gross wells with a 100 percent success rate and
completing a record 19 wells. The Company operated five to six rigs in the
Eagle Ford area during the period.

Total capital expenditures for 2012 were $653 million with a total of 85 gross
wells drilled at a 100 percent success rate and 64 gross wells completed.
Capital spending in 2012 included $513 million for drilling and completion
activity in the Eagle Ford area where 80 wells were drilled and 62 completed.
Rosetta is currently conducting development drilling activities in four Eagle
Ford areas.

The following table details Rosetta's Eagle Ford gross well completion
activity by area:

As of             4Q 2012   2012      Completed Drilled Awaiting
December 31, 2012 Completed Completed To Date   Completion
Gates Ranch       12        40        96        20
Briscoe Ranch     0         3         4         3
Karnes Trough     7         16        17        5
Central Dimmit    0         3         5         4
Encinal           0         0         4         0
Eagle Ford        19        62        126       32

Since beginning operations in the Eagle Ford area, Rosetta has completed 126
horizontal Eagle Ford wells as of December 31, 2012. Approximately 13 percent
of the Company's identified Eagle Ford inventory is drilled and on production.
At the end of the year, 32 drilled wells were awaiting completion, 20 of which
were drilled during the fourth quarter.

Well performance on the Company's largest Eagle Ford asset at Gates Ranch in
Webb County remains strong at 55-acre well spacing. Approximately 332 of the
estimated 428 Gates Ranch well locations remain to be completed.

In Dimmit County, four of the 68 planned well locations at Briscoe Ranch are
on production and performing as expected. In addition, Rosetta successfully
delineated its Lasseter & Eppright acreage, one of three leases in the central
area of the county. Drilling activities are also underway on both the Vivion
and Light Ranch leases in the area.

Drilling and completion operations continue in the predominantly crude
oil-producing Karnes Trough area. On the Dubose lease in Gonzales County,
three locations remain to be drilled and five drilled wells are awaiting
completion following the addition of three well locations in an acreage trade
during the fourth quarter. Ultimately, there will be 10 wells on production
after full development of the Dubose lease is completed during the first half
of 2013. On the Klotzman lease, all 15 well locations have been drilled and
completed, with seven completions brought on production during the latter part
of the fourth quarter.

In the fourth quarter, the Company negotiated a farm-in agreement on 535 gross
(505 net) acres adding six Eagle Ford well locations in Live Oak County. As of
December 31, 2012, the Company holds approximately 67,000 net acres in the
Eagle Ford area with 53,000 net acres located in the liquids-rich part of the
play.

Rosetta currently plans to drill 75 to 80 wells and complete 60 to 65 Eagle
Ford wells during 2013.During the first quarter of 2013, the Company expects
to complete 15 to 20 Eagle Ford wells and continue to operate five to six rigs
in the play, including two to three rigs in the Gates Ranch area.

During the quarter, Rosetta successfully drilled its first Pearsall shale
exploratory well on the Tom Hanks lease in LaSalle County.The well is
currently completed and awaiting pipeline connection.In addition, Rosetta
acquired 1,711 gross acres in Atascosa County.

Financing and Derivatives Update 

At the end of 2012, the Company's borrowing base and committed amount totaled
$625 million under Rosetta's Senior Revolving Credit Facility ("Credit
Facility").On February 25, 2013, Rosetta had $225 million outstanding with
$400 million available for borrowing under the Credit Facility.

During January and February, Rosetta placed additional derivative swap
positions for 2013 and 2014 oil production.The attached "Derivatives Summary"
table outlines the Company's overall commodity derivatives position as of
February 25, 2013.

2013 Outlook

The Company's 2013 capital program is expected to range from $640 - $700
million compared to its original $700 million capital budget.The revised
capital guidance accounts for recently reported well cost savings of
approximately $1.0 million per well in most activity areas.These lower well
costs are expected to provide an additional $60 million of flexibility in
executing the 2013 capital plan and the updated range reflects that
optionality.

Rosetta's January production averaged 47.4 MBoe/d. Of that amount, 63 percent
is liquids comprised of 29 percent oil and 34 percent NGLs. Assuming no
changes to the estimated number of completions in 2013, the Company now
expects production guidance for the year to range from 47 – 51 MBoe/d. Exit
rate guidance remains unchanged from the previous estimate with volumes
projected between 52 – 56 MBoe/d. The Company's per unit cost ranges for
full year 2013 outlined in the attached "Summary of Expense Guidance" table
are unaffected.

On February 1, an additional 50 million cubic feet per day ("MMcf/d") of Eagle
Ford firm gross wet gas capacity became available.The Company currently has a
total of 245 MMcf/d of firm takeaway capacity in place to meet planned 2013
production levels.

Rosetta Resources Inc. is an independent exploration and production company
engaged in the acquisition and development of onshore energy resources in the
United States of America.The Company holds a leading position in the Eagle
Ford area in South Texas, one of the nation's largest unconventional resource
plays.Rosetta is a Delaware Corporation based in Houston, Texas.

The Rosetta Resources Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3139

[ROSE-F]

Forward-Looking Statements

This press release includes forward-looking statements, which give the
Company's current expectations or forecasts of future events based on
currently available information. Forward-looking statements are statements
that are not historical facts, such as expectations regarding drilling plans,
including the acceleration thereof, production rates and guidance, proven
reserves, resource potential, incremental transportation capacity, exit rate
guidance, net present value, development plans, progress on infrastructure
projects, exposures to weak natural gas prices, changes in the Company's
liquidity, changes in acreage positions, expected expenses, expected capital
expenditures, and projected debt balances. The assumptions of management and
the future performance of the Company are subject to a wide range of business
risks and uncertainties and there is no assurance that these statements and
projections will be met. Factors that could affect the Company's business
include, but are not limited to: the risks associated with drilling and
completion of oil and natural gas wells; the Company's ability to find,
acquire, market, develop, and produce new reserves; the risk of drilling dry
holes; oil liquids and natural gas price volatility; derivative transactions
(including the costs associated therewith and the abilities of counterparties
to perform thereunder); uncertainties in the estimation of proved, probable,
and possible reserves and in the projection of future rates of production and
reserve growth; inaccuracies in the Company's assumptions regarding items of
income and expense and the level of capital expenditures; uncertainties in the
timing of exploitation expenditures; operating hazards attendant to the oil
and natural gas business; drilling and completion losses that are generally
not recoverable from third parties or insurance; potential mechanical failure
or underperformance of significant wells; midstream and pipeline construction
difficulties and operational upsets; climatic conditions; availability and
cost of material, equipment and services; the risks associated with operating
in a limited number of geographic areas; actions or inactions of third-party
operators of the Company's properties; the Company's ability to retain skilled
personnel; diversion of management's attention from existing operations while
pursuing acquisitions or dispositions; availability and cost of capital; the
strength and financial resources of the Company's competitors; regulatory
developments; environmental risks; uncertainties in the capital markets;
general economic and business conditions (including the effects of the
worldwide economic recession); industry trends; and other factors detailed in
the Company's most recent Form 10-K, Form 10-Q and other filings with the
Securities and Exchange Commission. If one or more of these risks or
uncertainties materialize (or the consequences of such a development changes),
or should underlying assumptions prove incorrect, actual outcomes may vary
materially from those forecasted or expected. The Company undertakes no
obligation to publicly update or revise any forward-looking statements except
as required by law.


Rosetta Resources Inc.
Consolidated Balance Sheet
(In thousands, except par value and share amounts)

                                                    December 31,
                                                    2012         2011
Assets                                                           
Current assets:                                                  
Cash and cash equivalents                            $36,786    $47,050
Accounts receivable, net                             103,828     77,374
Derivative instruments                               14,437      10,171
Prepaid expenses                                     5,742       2,962
Deferred income taxes                                311         11,015
Other current assets                                 1,456       2,942
Total current assets                                 162,560     151,514
Oil and natural gas properties using the full cost               
method of accounting:
Proved properties                                    2,829,431   2,297,312
Unproved/unevaluated properties, not subject to      95,540      141,016
amortization
Gathering systems and compressor stations            104,978     38,580
Other fixed assets                                   16,346      9,494
                                                    3,046,295   2,486,402
Accumulated depreciation, depletion and amortization (1,808,190) (1,657,841)
including impairment
Total property and equipment, net                    1,238,105   828,561
                                                                
Other assets:                                                    
Deferred loan fees                                   7,699       8,575
Deferred income taxes                                --          74,150
Derivative instruments                               6,790       1,633
Other long-term assets                               262         912
Total other assets                                   14,751      85,270
Total assets                                         $1,415,416 $1,065,345
                                                                
Liabilities and Stockholders' Equity                             
Current liabilities:                                             
Accounts payable                                     $1,874     $2,489
Accrued liabilities                                  120,336     107,594
Royalties and other payables                         61,637      50,689
Derivative instruments                               --          6,788
Current portion of long-term debt                    --          20,000
Total current liabilities                            183,847     187,560
Long-term liabilities:                                           
Derivative instruments                               563         1,351
Long-term debt                                       410,000     230,000
Deferred income taxes                                10,086      --
Other long-term liabilities                          6,921       13,598
Total liabilities                                    $611,417   $432,509
                                                                
Commitments and contingencies                                    
                                                                
Stockholders' equity:                                            
Preferred stock,$0.001 par value; authorized        --          --
5,000,000 shares; no shares issued in 2012 or 2011
Common stock, $0.001 par value; authorized
150,000,000 shares; issued 53,145,853 shares and     53          52
52,630,483 shares at December 31, 2012 and 2011,
respectively
Additional paid-in capital                           830,539     810,794
Treasury stock, at cost; 581,717 shares and 450,173  (17,479)    (11,296)
shares at December 31, 2012 and 2011, respectively
Accumulated other comprehensive income               (63)        1,632
Accumulated deficit                                  (9,051)     (168,346)
Total stockholders' equity                           803,999     632,836
Total liabilities and stockholders' equity           $1,415,416 $1,065,345



Rosetta Resources Inc.
Consolidated Statement of Operations
(In thousands, except per share amounts)

                                             Year Ended December 31,
                                             2012       2011       2010
Revenues:                                                         
Oil sales                                     $318,782 $156,284 $54,542
NGL sales                                     160,461   125,301   45,200
Natural gas sales                             93,711    163,382   208,688
Derivative instruments                        40,545    1,233     --
Total revenues                                613,499   446,200   308,430
Operating costs and expenses:                                     
Lease operating expense                       42,429    34,900    51,085
Treating and transportation                   51,826    22,316    6,963
Production taxes                              16,722    12,073    5,953
Depreciation, depletion and amortization      154,223   123,244   116,558
General and administrative costs              68,731    75,256    56,332
Total operating costs and expenses            333,931   267,789   236,891
Operating income                              279,568   178,411   71,539
Other expense (income):                                           
Interest expense, net of interest capitalized 24,316    21,291    27,073
Interest income                               (7)       (42)      (38)
Other (income) expense, net                   60        903       (1,087)
Total other expense                           24,369    22,152    25,948
                                                                 
Income before provision for income taxes      255,199   156,259   45,591
Income tax expense                            95,904    55,713    26,545
Net income                                    $159,295 $100,546 $19,046
                                                                 
Earnings per share:                                               
Basic                                         $3.03    $1.93    $0.37
Diluted                                       $3.01    $1.91    $0.37
                                                                 
Weighted average shares outstanding:                              
Basic                                         52,496    51,996    51,381
Diluted                                       52,887    52,616    52,168



Rosetta Resources Inc.
Consolidated Statement of Cash Flows
(In thousands)

                                             Year Ended December 31,
                                             2012       2011       2010
Cash flows from operating activities:                             
Net income                                    $159,295 $100,546 $19,046
Adjustments to reconcile net income to net                        
cash provided by operating activities:
Depreciation, depletion and amortization      154,223   123,244   116,558
Deferred income taxes                         95,904    56,170    26,740
Amortization of deferred loan fees recorded   2,856     2,248     2,828
as interest expense
Amortization of original issue discount       --        --        1,258
recorded as interest expense
Stock-based compensation expense              18,539    29,010    14,147
Derivative instruments                        (19,662)  (12,124)  (1,715)
Change in operating assets and liabilities:                       
Accounts receivable                           (26,454)  (41,215)  (11,337)
Prepaid expenses                              (2,780)   (226)     852
Other current assets                          680       287       961
Long-term assets                              650       (450)     (316)
Accounts payable                              (615)     (1,180)   1,390
Accrued liabilities                           (19,382)  1,945     6,848
Royalties and other payables                  10,948    37,409    (1,195)
Other long-term liabilities                   (3,572)   (8,863)   796
Derivative instruments                        --        12,736    --
Net cash provided by operating activities     370,630   299,537   176,861
Cash flows from investing activities:                             
Additions to oil and natural gas assets       (622,168) (432,951) (328,889)
Acquisition of oil and natural gas assets     --        --        (5,874)
Disposals of oil and natural gas assets       88,527    242,588   83,142
Net cash used in investing activities         (533,641) (190,363) (251,621)
Cash flows from financing activities:                             
Borrowings on Credit Facility                 290,000   --        64,000
Payments on Credit Facility                   (110,000) (100,000) (124,000)
Issuance of Senior Notes                      --        --        200,000
Repayments on Restated Term Loan              (20,000)  --        (80,000)
Deferred loan fees                            (1,980)   (3,150)   (6,282)
Proceeds from stock options exercised         910       3,792     4,843
Purchases of treasury stock                   (6,183)   (4,400)   (3,423)
Net cash provided by (used in) financing      152,747   (103,758) 55,138
activities
                                                                 
Net (decrease) increase in cash               (10,264)  5,416     (19,622)
Cash and cash equivalents, beginning of year  47,050    41,634    61,256
Cash and cash equivalents, end of year        $36,786  $47,050  $41,634
                                                                 
Supplemental disclosures:                                         
Cash paid for interest expense, net of        $20,834  $19,044  $22,987
capitalized interest
Cash (received) paid for income taxes         $(105)   $(405)   $337
                                                                 
Supplemental non-cash disclosures:                                
Capital expenditures included in accrued      $88,844  $57,546  $22,945
liabilities



Rosetta Resources Inc.
Summary of Operating Data
(In thousands, except percentages and per unit amounts)

                 Three Months Ended December 31, Twelve Months Ended December
                                                  31,
                                      % Change                     % Change
                 2012      2011      Increase/   2012     2011     Increase/
                                      (Decrease)                    (Decrease)
                                                              
Daily production                                               
by area (Boe/d):
Eagle Ford        44,163    27,411    61%         35,853   21,436   67%
Lobo              --        3,105     (100%)      733      3,253    (77%)
Sacramento Basin  --        451      (100%)      --       1,690    (100%)
DJ Basin          --        --        0%          --       388     (100%)
Other             176       1,062     (83%)       601      828      (27%)
Total (Boe/d)     44,339    32,029    38%         37,187   27,595   35%
                                                              
                                                              
Daily production:                                              
Oil (Bbls/d)      11,673   7,042    66%         9,553   5,105   87%
NGLs (Bbls/d)     15,895   8,564    86%         12,218  7,242   69%
Natural Gas       100,629  98,531    2%          92,494   1,489    1%
(Mcf/d)
Total (Boe/d)     44,339    32,029    38%         37,187   27,595   35%
                                                              
                                                              
Average sales                                                  
prices:
Oil, excluding
derivatives       $90.52  $85.60  6%          $91.17 $85.03 7%
($/Bbl)
Oil, including
realized          88.13    84.81    4%          89.67   83.87   7%
derivatives
($/Bbl)
NGL, excluding
derivatives       31.18    53.75    (42%)       35.88   51.26   (30%)
($/Bbl)
NGL, including
realized          33.44    50.21    (33%)       37.84   47.40   (20%)
derivatives
($/Bbl)
Natural gas,
excluding         3.34     3.09     8%          2.77    4.00    (31%)
derivatives
($/Mcf)
Natural gas,
including
realized          3.69     3.74     (1%)        3.28    4.89    (33%)
derivatives
($/Mcf)
Total (excluding
realized          $42.58  $42.69  (0.3%)      $42.10 $42.45 (1%)
derivatives)
($/Boe)
Total (including
realized          $43.57  $43.57  0%          $43.63 $44.18 (1%)
derivatives)
($/Boe)
                                                              
                                                              
Average costs                                                  
(per Boe):
Direct LOE        $ 2.46    $ 1.98   24%         $2.42   $2.72   (11%)
Workovers         0.35      0.01      3400%       0.09     0.06     50%
Insurance         0.05      0.01      400%        0.07     0.09     (22%)
Ad valorem tax    0.32      0.35      9%          0.54     0.60     (10%)
Treating and      3.55      2.89      23%         3.81     2.22     72%
Transportation
Production taxes  1.27      1.81      (30%)       1.23     1.20     3%
DD&A              11.50     10.59     9%          11.33    12.24    (7%)
G&A, excluding
stock-based       3.38      5.02      (33%)       3.69     4.59     (20%)
compensation
Interest expense  1.47      1.57      (6%)        1.79     2.11     (15%)



Rosetta Resources Inc.
Derivatives Summary
Status as of February 25, 2013

                                   Notional    Average         Average
                                      Daily
           Settlement Derivative     Volume      Floor Prices    Ceiling
                                                                  Prices
Product     Period     Instrument     Bbl         per Bbl         per Bbl
Crude oil   2013       Costless       7,750       81.52          117.07
                       Collar
Crude oil   2014       Costless       3,000       83.33          109.63
                       Collar
                                                             
Crude oil   2013       Swap           3,000       95.72          
Crude oil   2014       Swap           3,000       95.03          
                                                             
                                                             
                                   Notional                   
                                      Daily
           Settlement Derivative     Volume      Fixed Prices    
Product     Period     Instrument     Bbl         per Bbl         
NGLs        2013       Swap           7,500       41.96          (Includes
                                                                  Ethane)
NGLs        2014       Swap           5,000       40.64          (Includes
                                                                  Ethane)
                                                             
                                                             
                                   Notional    Average         Average
                                      Daily
           Settlement Derivative     Volume      Floor/Fixed     Ceiling
                                                  Prices          Prices
Product     Period     Instrument     MMBtu       per MMBtu       per MMBtu
Natural gas 2013       Costless       20,000      3.50           4.90
                       Collar
Natural gas 2014       Costless       30,000      3.50           4.93
                       Collar
Natural gas 2015       Costless       30,000      3.50           5.11
                       Collar
                                                             
Natural gas 2013       Swap           20,000      3.98           
Natural gas 2014       Swap           20,000      3.98           
Natural gas 2015       Swap           10,000      3.95           
                                                             


Rosetta Resources Inc.
Summary of Expense Guidance
(Average Costs per Boe)
                                       
                                       2013 Full Year
                                               
Direct Lease Operating Expense          $2.15 - $2.40
Insurance                               0.07   - 0.08
Ad Valorem Tax                          0.65   - 0.75
Treating and Transportation             4.20   - 4.65
Production Taxes                        1.50   - 1.65
DD&A                                    11.75  - 12.90
G&A, excluding Stock-Based Compensation 3.20   - 3.55
Interest Expense                        1.30   - 1.40
                                               

                            Rosetta Resources Inc.
                      Non-GAAP Reconciliation Disclosure
                   (In thousands, except per share amounts)

The following table reconciles net income (GAAP) to adjusted net income
(non-GAAP) for the three and twelve months ended December 31, 2012 and
December 31, 2011.Adjusted net income eliminates the unrealized derivative
activity from our financial commodity derivative transactions that affect the
comparability of operating results and the related tax effects.The Company
uses this information to analyze operating trends and for comparative purposes
within the industry. This measure is not intended to replace the GAAP
statistic but rather to provide additional information that may be helpful in
evaluating the Company's operational trends and performance.

                     Three months ended December Twelve months ended December
                      31,                         31,
                     2012           2011         2012           2011
Net income (GAAP)     $ 42,340      $32,201     $159,295      $100,546
Unrealized derivative (593)          (7,918)     (19,662)      (1,233)
loss (gain)
Tax benefit of MTM
derivative loss       214            2,870        7,098          447
(gain)
Adjusted net income   $41,961       $27,153     $146,731      $99,760
(Non-GAAP)
                                                             
                                                             
Net income per share                                          
(GAAP)
Basic                 $0.81         $0.62       $3.03         $1.93
Diluted               0.80           0.61         3.01           1.91
                                                             
Adjusted net income                                           
per share (Non-GAAP)
Basic                 $0.80         $0.52       $2.80         $1.92
Diluted               0.79           0.52         2.77           1.90

CONTACT: Investor Contact:
        
         Don O. McCormack
         Vice President, Treasurer and Chief Accounting Officer
         Rosetta Resources Inc.
         info@rosettaresources.com

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