$CRK
COMSTOCK RESOURCES INC

2018 Q2 Form 10-Q Financial Statement

#000156459018020870 Filed on August 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2 2016 Q4
Revenue $61.45M $61.47M $48.50M
YoY Change -0.04% 51.03% 2.75%
Cost Of Revenue $13.50M $14.10M $13.90M
YoY Change -4.26% -22.95% -32.52%
Gross Profit $48.00M $47.40M $34.60M
YoY Change 1.27% 111.61% 30.08%
Gross Profit Margin 78.11% 77.11% 71.34%
Selling, General & Admin $6.600M $6.600M $8.500M
YoY Change 0.0% 15.79% 214.81%
% of Gross Profit 13.75% 13.92% 24.57%
Research & Development $0.00 $0.00
YoY Change -100.0%
% of Gross Profit 0.0% 0.0%
Depreciation & Amortization $26.80M $30.32M $29.10M
YoY Change -11.61% -16.01% -51.01%
% of Gross Profit 55.83% 63.97% 84.1%
Operating Expenses $33.40M $51.00M $37.70M
YoY Change -34.51% 22.3% -39.78%
Operating Profit $14.60M $10.47M -$5.805M
YoY Change 39.45% -146.11% -98.0%
Interest Expense -$41.90M -$31.50M -$44.70M
YoY Change 33.02% -209.06% 43.27%
% of Operating Profit -286.99% -300.86%
Other Income/Expense, Net $300.0K -$31.40M $100.0K
YoY Change -100.96% -10565.0% -80.0%
Pretax Income -$34.10M -$20.93M -$51.50M
YoY Change 62.96% -523.58% -82.72%
Income Tax -$100.0K $500.0K $3.400M
% Of Pretax Income
Net Earnings -$34.00M -$21.44M -$54.93M
YoY Change 58.58% -541.92% -80.96%
Net Earnings / Revenue -55.34% -34.88% -113.26%
Basic Earnings Per Share
Diluted Earnings Per Share -$322.6K -$1.456M -$4.159M
COMMON SHARES
Basic Shares Outstanding 13.46M
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q2 2017 Q2 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $158.4M $35.30M $65.90M
YoY Change 348.73% -47.63% -50.82%
Cash & Equivalents $158.4M $35.30M $65.90M
Short-Term Investments
Other Short-Term Assets $4.500M $8.000M $1.824M
YoY Change -43.75% 242.03% -8.48%
Inventory $1.200M
Prepaid Expenses
Receivables $39.30M $32.10M $19.34M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $202.1M $75.40M $90.17M
YoY Change 168.04% -42.33% -42.29%
LONG-TERM ASSETS
Property, Plant & Equipment $698.7M $825.5M $798.7M
YoY Change -15.36% -9.82% -23.09%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.400M $969.0K $1.000M
YoY Change 44.48% -13.56% -16.11%
Total Long-Term Assets $719.2M $826.4M $799.7M
YoY Change -12.98% -9.82% -23.07%
TOTAL ASSETS
Total Short-Term Assets $202.1M $75.40M $90.17M
Total Long-Term Assets $719.2M $826.4M $799.7M
Total Assets $921.3M $901.8M $889.9M
YoY Change 2.16% -13.88% -25.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $153.4M $72.46M $45.30M
YoY Change 111.72% 55.48% -20.91%
Accrued Expenses $35.50M $36.40M $40.40M
YoY Change -2.47% -9.5% 5.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $189.1M $110.6M $91.70M
YoY Change 70.98% 27.39% -4.2%
LONG-TERM LIABILITIES
Long-Term Debt $1.153B $1.070B $1.045B
YoY Change 7.76% -6.55% -16.4%
Other Long-Term Liabilities $10.60M $16.20M $15.80M
YoY Change -34.57% 1.25% -21.39%
Total Long-Term Liabilities $1.164B $1.086B $1.060B
YoY Change 7.13% -5.13% -15.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $189.1M $110.6M $91.70M
Total Long-Term Liabilities $1.164B $1.086B $1.060B
Total Liabilities $1.364B $1.207B $1.161B
YoY Change 12.98% -3.78% -15.07%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$442.4M -$305.3M -$271.3M
YoY Change
Total Liabilities & Shareholders Equity $921.3M $901.8M $889.9M
YoY Change 2.16% -13.89% -25.58%

Cashflow Statement

Concept 2018 Q2 2017 Q2 2016 Q4
OPERATING ACTIVITIES
Net Income -$34.00M -$21.44M -$54.93M
YoY Change 58.58% -541.92% -80.96%
Depreciation, Depletion And Amortization $26.80M $30.32M $29.10M
YoY Change -11.61% -16.01% -51.01%
Cash From Operating Activities $65.40M $52.30M $31.00M
YoY Change 25.05% -26250.0% 369.7%
INVESTING ACTIVITIES
Capital Expenditures -$44.10M -$47.40M -$16.30M
YoY Change -6.96% 143.08% -47.92%
Acquisitions
YoY Change
Other Investing Activities $101.5M $0.00 $25.80M
YoY Change -100.0% -13000.0%
Cash From Investing Activities $57.40M -$47.40M $9.500M
YoY Change -221.1% 159.02% -130.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -15.40M 0.000 -1.200M
YoY Change -100.0% -75.51%
NET CHANGE
Cash From Operating Activities 65.40M 52.30M 31.00M
Cash From Investing Activities 57.40M -47.40M 9.500M
Cash From Financing Activities -15.40M 0.000 -1.200M
Net Change In Cash 107.4M 4.900M 39.30M
YoY Change 2091.84% -122.27% -231.88%
FREE CASH FLOW
Cash From Operating Activities $65.40M $52.30M $31.00M
Capital Expenditures -$44.10M -$47.40M -$16.30M
Free Cash Flow $109.5M $99.70M $47.30M
YoY Change 9.83% 416.58% 24.8%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2017Q2 crk Gas Gathering And Transportation Cost
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crk Gas Gathering And Transportation Cost
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crk Lease Operating Expenses
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crk Antidilutive Securities Excluded From Computation Of Earnings Per Unit Weighted Average Grant Date Fair Value Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerUnitWeightedAverageGrantDateFairValuePrice
13.83
crk Antidilutive Securities Excluded From Computation Of Earnings Per Unit Weighted Average Grant Date Fair Value Price
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerUnitWeightedAverageGrantDateFairValuePrice
17.12
CY2018Q2 crk Antidilutive Securities Contingently Convertible Shares Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesContingentlyConvertibleSharesExcludedFromComputationOfEarningsPerShareAmount
40017000
CY2017Q2 crk Antidilutive Securities Contingently Convertible Shares Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesContingentlyConvertibleSharesExcludedFromComputationOfEarningsPerShareAmount
36181000
crk Antidilutive Securities Contingently Convertible Shares Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesContingentlyConvertibleSharesExcludedFromComputationOfEarningsPerShareAmount
39617000
crk Antidilutive Securities Contingently Convertible Shares Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesContingentlyConvertibleSharesExcludedFromComputationOfEarningsPerShareAmount
36331000
us-gaap Interest Paid
InterestPaid
36122000
us-gaap Interest Paid
InterestPaid
37846000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
3000
CY2018Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
8408000
crk Debt Instrument Interest Rate Payment In Kind
DebtInstrumentInterestRatePaymentInKind
0.1225
CY2018Q2 crk Maximum Notes Issuable For Toggle Interest Paid In Kind
MaximumNotesIssuableForToggleInterestPaidInKind
91900000
CY2018Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
51449
crk Stock And Warrants Exercised During Period Shares Preferred Stock And Warrants
StockAndWarrantsExercisedDuringPeriodSharesPreferredStockAndWarrants
363638
crk Stock And Warrants Exercised During Period Shares Preferred Stock And Warrants
StockAndWarrantsExercisedDuringPeriodSharesPreferredStockAndWarrants
246793
crk Natural Gas Transportation Agreement Term
NaturalGasTransportationAgreementTerm
through July 2019
CY2018Q2 crk Maximum Commitments Under Natural Gas Transportation Agreements
MaximumCommitmentsUnderNaturalGasTransportationAgreements
1300000
crk Contract Terms Related To Drilling Services
ContractTermsRelatedToDrillingServices
through September 2019
CY2018Q2 crk Commitments For Contracted Drilling Services
CommitmentsForContractedDrillingServices
19300000

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