Before the bell: American Spectrum, Evolution Petroleum

American Spectrum Realty Inc. reported first-quarter results Wednesday, while Evolution Petroleum Corp. reported third-quarter earnings.

Houston real estate investment firm American Spectrum Realty (AMEX: AQQ) posted a net loss of $697,000, or 51 cents per share, on revenue of $8.3 million, for the first quarter ended March 31, 2008. That compared with a net loss of $1.1 million, or 83 cents per share, on revenue of $7.2 million, for the same quarter last year.

Evolution Petroleum, a Houston oil and gas company, reported a net loss of $535,985, or 2 cents per share, on revenue of $744,702, for the third quarter ended March 31, 2008. That compared with a net loss of $454,585, or 2 cents per share, on revenue of $462,951, for the same quarter a year-earlier.

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Analysts polled by Thomson Financial expected Evolution (AMEX: EPM) to have a net loss of 2 cents per share.