$DMLP
DORCHESTER MINERALS, L.P.

2014 Q4 Form 10-K Financial Statement

#000143774916026030 Filed on February 25, 2016

View on sec.gov

Income Statement

Concept 2014 Q4 2013 2012 Q4
Revenue $14.14M $65.87M $20.22M
YoY Change -25.26% 4.22% -1.08%
Cost Of Revenue $1.140M $5.130M $1.130M
YoY Change -14.93% 6.88% -5.04%
Gross Profit $13.01M $60.74M $19.09M
YoY Change -26.0% 3.99% -0.83%
Gross Profit Margin 92.01% 92.21% 94.41%
Selling, General & Admin $2.150M $4.200M $1.390M
YoY Change 44.3% 9.95% 3.73%
% of Gross Profit 16.53% 6.91% 7.28%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.05M $13.14M $16.58M
YoY Change -23.52% -20.74% 252.02%
% of Gross Profit 77.25% 21.64% 86.85%
Operating Expenses $4.300M $17.34M $5.180M
YoY Change -2.93% -14.96% -14.38%
Operating Profit $8.710M $43.40M $13.91M
YoY Change -33.76% 14.18% 5.38%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00 $176.0K $0.00
YoY Change 1500.0%
Pretax Income $8.700M $43.58M $13.92M
YoY Change -33.84% 14.62% 5.45%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0% 0.0%
Net Earnings $8.700M $43.58M $13.92M
YoY Change -33.84% 14.61% 5.45%
Net Earnings / Revenue 61.53% 66.16% 68.84%
Basic Earnings Per Share
Diluted Earnings Per Share $283.6K $1.420M $453.7K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q4 2013 2012 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.90M $15.20M $13.80M
YoY Change 4.61% 10.14% -2.82%
Cash & Equivalents $15.91M $15.20M $13.79M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $19.00K
Receivables $10.60M $6.500M $12.30M
Other Receivables $0.00 $6.500M $0.00
Total Short-Term Assets $26.47M $28.20M $26.10M
YoY Change -6.15% 8.05% -8.42%
LONG-TERM ASSETS
Property, Plant & Equipment $71.00M $84.60M $97.70M
YoY Change -16.08% -13.41% -14.52%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $19.00K $0.00 $0.00
YoY Change 0.0%
Total Long-Term Assets $71.04M $84.60M $97.70M
YoY Change -16.01% -13.41% -14.52%
TOTAL ASSETS
Total Short-Term Assets $26.47M $28.20M $26.10M
Total Long-Term Assets $71.04M $84.60M $97.70M
Total Assets $97.51M $112.8M $123.8M
YoY Change -13.54% -8.89% -13.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.000M $900.0K $400.0K
YoY Change 11.11% 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 $985.0K $1.000M $500.0K
YoY Change 3.68% 100.0% -16.67%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $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 $985.0K $1.000M $500.0K
Total Long-Term Liabilities $0.00 $0.00 $100.0K
Total Liabilities $985.0K $1.000M $500.0K
YoY Change 2.5% 100.0% -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 $96.50M $111.8M $123.3M
YoY Change
Total Liabilities & Shareholders Equity $97.51M $112.8M $123.8M
YoY Change -13.54% -8.89% -13.31%

Cashflow Statement

Concept 2014 Q4 2013 2012 Q4
OPERATING ACTIVITIES
Net Income $8.700M $43.58M $13.92M
YoY Change -33.84% 14.61% 5.45%
Depreciation, Depletion And Amortization $10.05M $13.14M $16.58M
YoY Change -23.52% -20.74% 252.02%
Cash From Operating Activities $10.65M $56.40M $12.38M
YoY Change -23.33% -0.05% -4.7%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $3.620M $0.00
YoY Change
Cash From Investing Activities $3.620M $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -14.25M -55.02M -10.94M
YoY Change -1.59% -3.25% -24.55%
NET CHANGE
Cash From Operating Activities 10.65M 56.40M 12.38M
Cash From Investing Activities 3.620M 0.000
Cash From Financing Activities -14.25M -55.02M -10.94M
Net Change In Cash 20.00K 56.40M 1.440M
YoY Change -103.39% -0.05% -195.36%
FREE CASH FLOW
Cash From Operating Activities $10.65M $56.40M $12.38M
Capital Expenditures $0.00
Free Cash Flow $12.38M
YoY Change -4.7%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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1336000
CY2014 us-gaap Production Tax Expense
ProductionTaxExpense
2548000
CY2013 us-gaap Production Tax Expense
ProductionTaxExpense
2475000
CY2015 us-gaap Use Of Estimates
UseOfEstimates
<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="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 timely information. Therefore, actual results could differ from those estimates. </div></div><div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</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></div>
CY2015 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
30675000
CY2014 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
30675000
CY2013 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
30675000

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