2018 Q4 Form 10-Q Financial Statement

#000001004819000007 Filed on February 13, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2017 Q4
Revenue $2.595M $1.856M
YoY Change 39.82% -56.74%
Cost Of Revenue $1.316M $821.0K
YoY Change 60.29% -29.47%
Gross Profit $1.279M $1.035M
YoY Change 23.57% -66.89%
Gross Profit Margin 49.29% 55.77%
Selling, General & Admin $1.548M $1.480M
YoY Change 4.59% -26.73%
% of Gross Profit 121.03% 143.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $819.0K $280.0K
YoY Change 192.5% -13.58%
% of Gross Profit 64.03% 27.05%
Operating Expenses $2.367M $1.760M
YoY Change 34.49% -25.11%
Operating Profit -$3.068M $64.00K
YoY Change -4893.75% -96.71%
Interest Expense $4.000K $0.00
YoY Change -100.0%
% of Operating Profit 0.0%
Other Income/Expense, Net
YoY Change
Pretax Income -$4.678M -$1.537M
YoY Change 204.36% -168.16%
Income Tax -$105.0K -$503.0K
% Of Pretax Income
Net Earnings -$4.600M -$1.017M
YoY Change 352.31% -161.97%
Net Earnings / Revenue -177.26% -54.8%
Basic Earnings Per Share -$0.56 -$0.12
Diluted Earnings Per Share -$0.56 -$0.12
COMMON SHARES
Basic Shares Outstanding 8.277M shares 8.277M shares
Diluted Shares Outstanding 8.277M shares 8.277M shares

Balance Sheet

Concept 2018 Q4 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.098M $17.90M
YoY Change -65.93% 16.23%
Cash & Equivalents $6.098M $12.76M
Short-Term Investments $0.00 $5.200M
Other Short-Term Assets $1.637M $1.245M
YoY Change 31.49% -5.4%
Inventory
Prepaid Expenses
Receivables $1.772M $1.800M
Other Receivables $1.503M $1.300M
Total Short-Term Assets $10.83M $23.32M
YoY Change -53.55% 5.08%
LONG-TERM ASSETS
Property, Plant & Equipment $13.35M $5.178M
YoY Change 157.72% -23.32%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.177M $2.100M
YoY Change -43.95% -61.11%
Other Assets $865.0K $200.0K
YoY Change 332.5%
Total Long-Term Assets $15.85M $7.913M
YoY Change 100.27% -34.79%
TOTAL ASSETS
Total Short-Term Assets $10.83M $23.32M
Total Long-Term Assets $15.85M $7.913M
Total Assets $26.68M $31.23M
YoY Change -14.58% -9.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.604M $1.367M
YoY Change 17.34% -5.59%
Accrued Expenses $1.608M $1.800M
YoY Change -10.67% -21.74%
Deferred Revenue $441.0K
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.218M $4.728M
YoY Change -10.79% -13.28%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $11.04M $9.600M
YoY Change 14.98% -23.81%
Total Long-Term Liabilities $11.04M $9.600M
YoY Change 14.98% -23.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.218M $4.728M
Total Long-Term Liabilities $11.04M $9.600M
Total Liabilities $15.50M $14.57M
YoY Change 6.36% -20.83%
SHAREHOLDERS EQUITY
Retained Earnings $13.27M $14.01M
YoY Change -5.23% -9.6%
Common Stock $5.573M $5.574M
YoY Change -0.02% 0.07%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.286M $2.286M
YoY Change 0.0% 0.0%
Treasury Stock Shares 167.9K shares 167.9K shares
Shareholders Equity $11.05M $16.25M
YoY Change
Total Liabilities & Shareholders Equity $26.68M $31.23M
YoY Change -14.58% -9.01%

Cashflow Statement

Concept 2018 Q4 2017 Q4
OPERATING ACTIVITIES
Net Income -$4.600M -$1.017M
YoY Change 352.31% -161.97%
Depreciation, Depletion And Amortization $819.0K $280.0K
YoY Change 192.5% -13.58%
Cash From Operating Activities -$998.0K -$1.787M
YoY Change -44.15% 84.99%
INVESTING ACTIVITIES
Capital Expenditures -$559.0K -$510.0K
YoY Change 9.61% 13.33%
Acquisitions
YoY Change
Other Investing Activities $1.850M -$710.0K
YoY Change -360.56% -150.0%
Cash From Investing Activities $1.291M -$1.217M
YoY Change -206.08% -225.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$107.0K -$506.0K
YoY Change -78.85% 837.04%
NET CHANGE
Cash From Operating Activities -$998.0K -$1.787M
Cash From Investing Activities $1.291M -$1.217M
Cash From Financing Activities -$107.0K -$506.0K
Net Change In Cash $186.0K -$3.510M
YoY Change -105.3% 7063.27%
FREE CASH FLOW
Cash From Operating Activities -$998.0K -$1.787M
Capital Expenditures -$559.0K -$510.0K
Free Cash Flow -$439.0K -$1.277M
YoY Change -65.62% 147.48%

Facts In Submission

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NetCashProvidedByUsedInFinancingActivities
-506000 USD
CY2018Q4 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-107000 USD
CY2017Q4 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1217000 USD
CY2018Q4 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1291000 USD
CY2017Q4 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1787000 USD
CY2018Q4 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-998000 USD
CY2017Q4 us-gaap Net Income Loss
NetIncomeLoss
-1017000 USD
CY2018Q4 us-gaap Net Income Loss
NetIncomeLoss
-4600000 USD
CY2017Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-17000 USD
CY2018Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
27000 USD
CY2017Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1017000 USD
CY2018Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4600000 USD
CY2017Q4 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-1017000 USD
CY2018Q4 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-4600000 USD
CY2018Q4 us-gaap New Accounting Pronouncement Or Change In Accounting Principle Effect Of Adoption Quantification
NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification
20000 USD
CY2017Q4 us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1
37000 USD
CY2018Q4 us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1
0 USD
CY2018Q4 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 segment
CY2017Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
64000 USD
CY2018Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-3068000 USD
CY2018Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1140000 USD
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
957000 USD
CY2018Q3 us-gaap Other Assets Current
OtherAssetsCurrent
950000 USD
CY2018Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1765000 USD
CY2018Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1637000 USD
CY2017Q4 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax
-6000 USD
CY2018Q4 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax
-413000 USD
CY2017Q4 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
24000 USD
CY2018Q4 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
17000 USD
CY2017Q4 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
24000 USD
CY2018Q4 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
17000 USD
CY2017Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-6000 USD
CY2018Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-413000 USD
CY2017Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0 USD
CY2018Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0 USD
CY2017Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
18000 USD
CY2018Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-396000 USD
CY2017Q4 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-24000 USD
CY2018Q4 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-17000 USD
CY2017Q4 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
0 USD
CY2018Q4 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
0 USD
CY2018Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
54000 USD
CY2018Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
452000 USD
CY2018Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
413000 USD
CY2017Q4 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
992000 USD
CY2018Q4 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
0 USD
CY2017Q4 us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
0 USD
CY2018Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
73010000 USD
CY2018Q4 us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
355000 USD
CY2017Q4 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
18000 USD
CY2018Q4 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
96000 USD
CY2017Q4 us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
147000 USD
CY2018Q4 us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
108000 USD
CY2017Q4 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
506000 USD
CY2018Q4 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
107000 USD
CY2017Q4 us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
5000 USD
CY2018Q4 us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
2000 USD
CY2017Q4 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
59000 USD
CY2018Q4 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
54000 USD
CY2018Q3 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
4410000 USD
CY2018Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
4463000 USD
CY2017Q4 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
0 USD
CY2018Q4 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
352000 USD
CY2017Q4 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
248000 USD
CY2018Q4 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
741000 USD
CY2017Q4 us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
35000 USD
CY2018Q4 us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
633000 USD
CY2017Q4 us-gaap Profit Loss
ProfitLoss
-1034000 USD
CY2018Q4 us-gaap Profit Loss
ProfitLoss
-4573000 USD
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
70241000 USD
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
16411000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
13345000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
13253000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
8673000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
13273000 USD
CY2017Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1823000 USD
CY2018Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2574000 USD
CY2018Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
5738000 USD
CY2017Q4 us-gaap Revenues
Revenues
1856000 USD
CY2018Q4 us-gaap Revenues
Revenues
2595000 USD
CY2017Q4 us-gaap Share Based Compensation
ShareBasedCompensation
17000 USD
CY2018Q4 us-gaap Share Based Compensation
ShareBasedCompensation
-24000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
16026000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
11050000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
18183000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
16662000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
16239000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
11183000 USD
CY2018Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
167900 shares
CY2018Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
167900 shares
CY2018Q3 us-gaap Treasury Stock Value
TreasuryStockValue
2286000 USD
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
2286000 USD
CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8277160 shares
CY2018Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8277160 shares
CY2017Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
8277000 shares
CY2018Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
8277000 shares
CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8277160 shares
CY2018Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8277160 shares
CY2018Q4 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-style:italic;">Use of Estimates in the Preparation of Condensed Consolidated Financial Statements</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management of Barnwell to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. Actual results could differ significantly from those estimates. Significant assumptions are required in the valuation of deferred tax assets, asset retirement obligations, share-based payment arrangements, obligations for retirement plans, contract drilling estimated costs to complete, proved oil and natural gas reserves, and the carrying value of other assets, and such assumptions may impact the amount at which such items are recorded.</font></div></div>

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