$DMLP
DORCHESTER MINERALS, L.P.

2015 Q1 Form 10-K Financial Statement

#000143774915003008 Filed on February 19, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2013 Q4 2012
Revenue $8.805M $18.92M $63.20M
YoY Change -49.22% -6.43% -9.05%
Cost Of Revenue $1.030M $1.340M $4.800M
YoY Change -28.47% 18.58% -1.64%
Gross Profit $7.770M $17.58M $58.41M
YoY Change -51.13% -7.91% -9.6%
Gross Profit Margin 88.25% 92.92% 92.42%
Selling, General & Admin $1.280M $1.490M $3.820M
YoY Change 12.28% 7.19% -6.6%
% of Gross Profit 16.47% 8.48% 6.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.465M $13.14M $16.58M
YoY Change -2.07% -20.75% -9.63%
% of Gross Profit 31.72% 74.74% 28.39%
Operating Expenses $3.740M $4.430M $20.39M
YoY Change 2.47% -14.48% -9.09%
Operating Profit $4.030M $13.15M $38.01M
YoY Change -67.09% -5.46% -9.88%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.000K $0.00 $11.00K
YoY Change -99.85% -72.5%
Pretax Income $4.030M $13.15M $38.02M
YoY Change -68.76% -5.53% -9.95%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0% 0.0%
Net Earnings $4.031M $13.15M $38.02M
YoY Change -68.74% -5.53% -9.94%
Net Earnings / Revenue 45.78% 69.5% 60.16%
Basic Earnings Per Share
Diluted Earnings Per Share $131.4K $428.6K $1.239M
COMMON SHARES
Basic Shares Outstanding 30.68M
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q1 2013 Q4 2012
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.70M $15.20M $13.80M
YoY Change -35.15% 10.14% -2.82%
Cash & Equivalents $10.67M $15.18M $13.80M
Short-Term Investments
Other Short-Term Assets $100.0K
YoY Change
Inventory
Prepaid Expenses $58.00K
Receivables $7.300M $13.00M $5.800M
Other Receivables $0.00 $0.00 $6.500M
Total Short-Term Assets $18.00M $28.20M $26.10M
YoY Change -37.49% 8.04% -8.42%
LONG-TERM ASSETS
Property, Plant & Equipment $68.50M $84.60M $97.70M
YoY Change -16.57% -13.41% -14.52%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $19.00K $0.00
YoY Change
Total Long-Term Assets $68.49M $84.59M $97.70M
YoY Change -16.57% -13.42% -14.52%
TOTAL ASSETS
Total Short-Term Assets $18.00M $28.20M $26.10M
Total Long-Term Assets $68.49M $84.59M $97.70M
Total Assets $86.50M $112.8M $123.8M
YoY Change -22.0% -8.9% -13.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.300M $900.0K $400.0K
YoY Change 18.18% 125.0% -20.0%
Accrued Expenses
YoY Change
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 $1.300M $950.0K $500.0K
YoY Change 18.18% 90.0% -16.67%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $100.0K
YoY Change -100.0% 0.0%
Total Long-Term Liabilities $0.00 $0.00 $100.0K
YoY Change -100.0% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.300M $950.0K $500.0K
Total Long-Term Liabilities $0.00 $0.00 $100.0K
Total Liabilities $1.298M $961.0K $500.0K
YoY Change 18.0% 92.2% -28.57%
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 $85.20M $111.8M $123.3M
YoY Change
Total Liabilities & Shareholders Equity $86.50M $112.8M $123.8M
YoY Change -22.0% -8.9% -13.31%

Cashflow Statement

Concept 2015 Q1 2013 Q4 2012
OPERATING ACTIVITIES
Net Income $4.031M $13.15M $38.02M
YoY Change -68.74% -5.53% -9.94%
Depreciation, Depletion And Amortization $2.465M $13.14M $16.58M
YoY Change -2.07% -20.75% -9.63%
Cash From Operating Activities $10.05M $13.89M $56.42M
YoY Change -38.31% 12.2% 1.66%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $70.00K $0.00
YoY Change
Cash From Investing Activities $70.00K $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -15.36M -14.48M -56.87M
YoY Change 2.88% 32.36% 8.3%
NET CHANGE
Cash From Operating Activities 10.05M 13.89M 56.42M
Cash From Investing Activities 70.00K 0.000
Cash From Financing Activities -15.36M -14.48M -56.87M
Net Change In Cash 10.05M -590.0K 56.42M
YoY Change -38.31% -140.97% 1793.42%
FREE CASH FLOW
Cash From Operating Activities $10.05M $13.89M $56.42M
Capital Expenditures $0.00
Free Cash Flow $56.42M
YoY Change 1.65%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2015Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
30675431
CY2014 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2014 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2014 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2014 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2014 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014Q2 dei Entity Public Float
EntityPublicFloat
852752548
CY2014 dmlp Future Net Revenues To Proved Oil And Natural Gas Reserves Discount Percentage
FutureNetRevenuesToProvedOilAndNaturalGasReservesDiscountPercentage
0.1
CY2014 dmlp Gain Loss Recognition Upon Disposition Of Oil And Gas Minimum Percent Of Reserves
GainLossRecognitionUponDispositionOfOilAndGasMinimumPercentOfReserves
0.25
CY2014 dmlp General And Administrative Reimbursement Maximum Percentage
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0.05
CY2014 dmlp Generaland Administrative Reimbursements
GeneralandAdministrativeReimbursements
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CY2013 dmlp Generaland Administrative Reimbursements
GeneralandAdministrativeReimbursements
2349000
CY2012 dmlp Generaland Administrative Reimbursements
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CY2014 dmlp Lease Bonus
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1590000
CY2013 dmlp Lease Bonus
LeaseBonus
2319000
CY2012 dmlp Lease Bonus
LeaseBonus
4538000
CY2014Q4 dmlp Number Of Counties In Which Entity Operates
NumberOfCountiesInWhichEntityOperates
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CY2014 dmlp Proceeds From Sale Of Net Profit Interest Reserves
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CY2014 dmlp Texas Franchise Tax Rate
TexasFranchiseTaxRate
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CY2013Q4 us-gaap Accounts Payable And Accrued Liabilities Current
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CY2014Q4 us-gaap Assets
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CY2013Q4 us-gaap Assets
Assets
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CY2013Q4 us-gaap Accounts Receivable Related Parties Current
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CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2014 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2014 us-gaap Concentration Risk Credit Risk
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CY2014 us-gaap Net Income Loss Allocated To General Partners
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CY2012 us-gaap Net Income Loss Allocated To Limited Partners
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CY2014Q4 us-gaap Number Of States In Which Entity Operates
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CY2014Q4 us-gaap Oil And Gas Property Full Cost Method Depletion
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CY2014 us-gaap Use Of Estimates
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 18pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Estimates &#x2014; </div>The<div style="display: inline; font-style: italic;"> </div>preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. For example, estimates of uncollected revenues and unpaid expenses from royalties and net profits interests in properties operated by non-affiliated entities are particularly subjective due to our inability to gain accurate and timely information. Therefore, actual results could differ from those estimates. </div></div><div style=" TEXT-ALIGN: left; MARGIN: 0pt 3.6pt 0pt 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 18pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The discounted present value of our proved oil and natural gas reserves is a major component of the ceiling test calculation and requires many subjective judgments. Estimates of reserves are forecasts based on engineering and geological analyses. Different reserve engineers could reach different conclusions as to estimated quantities of oil and natural gas reserves based on the same information. The passage of time provides more qualitative and quantitative information regarding reserve estimates, and revisions are made to prior estimates based on updated information. However, there can be no assurance that more significant revisions will not be necessary in the future. Significant downward revisions could result in an impairment representing a non-cash charge to income. In addition to the impact on the calculation of the ceiling test, estimates of proved reserves are also a major component of the calculation of depletion. See the discussion under <div style="display: inline; font-style: italic;">Oil and Natural Gas Properties</div>.</div></div></div></div>
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CY2013 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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30675000
CY2012 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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30675000

Files In Submission

Name View Source Status
0001437749-15-003008-index-headers.html Edgar Link pending
0001437749-15-003008-index.html Edgar Link pending
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