$EGY
VAALCO Energy Inc

2014 Q2 Form 10-Q Financial Statement

#000156459014003220 Filed on August 06, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $52.10M $29.12M
YoY Change 78.91% -50.49%
Cost Of Revenue $4.850M $7.020M
YoY Change -30.91% 7.34%
Gross Profit $47.25M $22.10M
YoY Change 113.8% -57.73%
Gross Profit Margin 90.69% 75.89%
Selling, General & Admin $3.130M $2.730M
YoY Change 14.65% -17.77%
% of Gross Profit 6.62% 12.35%
Research & Development $3.290M $4.280M
YoY Change -23.13% 22.99%
% of Gross Profit 6.96% 19.37%
Depreciation & Amortization $7.000M $3.431M
YoY Change 104.02% -49.91%
% of Gross Profit 14.81% 15.52%
Operating Expenses $13.42M $10.43M
YoY Change 28.67% -23.59%
Operating Profit $33.83M $11.67M
YoY Change 189.97% -69.8%
Interest Expense $300.0K $20.00K
YoY Change 1400.0% -33.33%
% of Operating Profit 0.89% 0.17%
Other Income/Expense, Net -$125.0K $14.00K
YoY Change -992.86% -96.62%
Pretax Income $33.73M $11.68M
YoY Change 188.78% -70.09%
Income Tax $9.010M $4.559M
% Of Pretax Income 26.71% 39.03%
Net Earnings $24.71M $7.121M
YoY Change 247.03% -31.69%
Net Earnings / Revenue 47.43% 24.45%
Basic Earnings Per Share $0.12
Diluted Earnings Per Share $417.4K $0.12
COMMON SHARES
Basic Shares Outstanding 57.90M
Diluted Shares Outstanding 57.54M 58.56M

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $118.6M $78.70M
YoY Change 50.7% -42.89%
Cash & Equivalents $118.6M $78.71M
Short-Term Investments
Other Short-Term Assets $5.494M $7.688M
YoY Change -28.54% 53.76%
Inventory $800.0K $4.000M
Prepaid Expenses
Receivables $23.10M $31.00M
Other Receivables $5.500M $7.700M
Total Short-Term Assets $162.8M $127.3M
YoY Change 27.88% -25.91%
LONG-TERM ASSETS
Property, Plant & Equipment $167.5M $132.7M
YoY Change 26.17% 25.09%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.100M $12.20M
YoY Change -66.39% 0.0%
Total Long-Term Assets $171.5M $144.9M
YoY Change 18.36% 22.52%
TOTAL ASSETS
Total Short-Term Assets $162.8M $127.3M
Total Long-Term Assets $171.5M $144.9M
Total Assets $334.3M $272.2M
YoY Change 22.81% -6.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.600M $33.20M
YoY Change -95.18% 59.62%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $51.36M $33.22M
YoY Change 54.6% 59.71%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $11.70M $11.10M
YoY Change 5.41% -6.72%
Total Long-Term Liabilities $11.70M $11.10M
YoY Change 5.41% -6.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $51.36M $33.22M
Total Long-Term Liabilities $11.70M $11.10M
Total Liabilities $63.09M $44.35M
YoY Change 42.24% 21.52%
SHAREHOLDERS EQUITY
Retained Earnings $242.1M $195.7M
YoY Change 23.73%
Common Stock $6.415M $6.317M
YoY Change 1.55%
Preferred Stock
YoY Change
Treasury Stock (at cost) $35.06M $25.31M
YoY Change 38.5%
Treasury Stock Shares 5.491M shares
Shareholders Equity $271.2M $227.9M
YoY Change
Total Liabilities & Shareholders Equity $334.3M $272.2M
YoY Change 22.81% -6.16%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $24.71M $7.121M
YoY Change 247.03% -31.69%
Depreciation, Depletion And Amortization $7.000M $3.431M
YoY Change 104.02% -49.91%
Cash From Operating Activities $64.10M -$500.0K
YoY Change -12920.0% -103.91%
INVESTING ACTIVITIES
Capital Expenditures -$26.50M -$22.40M
YoY Change 18.3% 35.76%
Acquisitions
YoY Change
Other Investing Activities -$100.0K $300.0K
YoY Change -133.33% -200.0%
Cash From Investing Activities -$26.70M -$22.10M
YoY Change 20.81% 32.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 400.0K -1.200M
YoY Change -133.33% -185.71%
NET CHANGE
Cash From Operating Activities 64.10M -500.0K
Cash From Investing Activities -26.70M -22.10M
Cash From Financing Activities 400.0K -1.200M
Net Change In Cash 37.80M -23.80M
YoY Change -258.82% 852.0%
FREE CASH FLOW
Cash From Operating Activities $64.10M -$500.0K
Capital Expenditures -$26.50M -$22.40M
Free Cash Flow $90.60M $21.90M
YoY Change 313.7% -25.26%

Facts In Submission

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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
3920000
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
100000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
99468
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
31600
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
167868
CY2014Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
4200000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y8M12D
CY2014Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
65000000
CY2014Q2 us-gaap Interest Expense
InterestExpense
300000
us-gaap Interest Expense
InterestExpense
500000

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