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return on capital |
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Pretax return on invested capital rose dramatically-from 9% to 12. The acquisition of oil and gas properties with shut-in wells and leaseholds that were prematurely abandoned, that directly offset by producing wells, provide Avalon an opportunity to use advanced technologies to re-establish production, and generate stable cash flows with a high rate of return on invested capital. 2) Return On Invested Capital is a non-GAAP measure and is defined as income (loss) from operations less other (income) expense and taxes annualized divided by the average of the two most recent quarter-end balances of assets less net current liabilities. |
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