$EPM
EVOLUTION PETROLEUM CORP

2017 Q3 Form 10-Q Financial Statement

#000100665517000046 Filed on November 08, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $8.538M $7.594M
YoY Change 12.43% 2.91%
Cost Of Revenue $2.760M $2.340M
YoY Change 17.95% -10.69%
Gross Profit $5.650M $5.250M
YoY Change 7.62% 10.29%
Gross Profit Margin 66.18% 69.13%
Selling, General & Admin $1.570M $1.240M
YoY Change 26.61% -26.19%
% of Gross Profit 27.79% 23.62%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.540M $1.273M
YoY Change 20.94% 4.53%
% of Gross Profit 27.26% 24.26%
Operating Expenses $5.866M $4.866M
YoY Change 20.53% -12.05%
Operating Profit $2.536M $2.728M
YoY Change -7.01% 47.72%
Interest Expense $20.46K $20.35K
YoY Change 0.54% 10.21%
% of Operating Profit 0.81% 0.75%
Other Income/Expense, Net
YoY Change
Pretax Income $2.531M $2.706M
YoY Change -6.47% -44.17%
Income Tax $390.3K $889.2K
% Of Pretax Income 15.42% 32.86%
Net Earnings $2.141M $1.817M
YoY Change 17.82% -41.25%
Net Earnings / Revenue 25.07% 23.92%
Basic Earnings Per Share $0.06 $0.02
Diluted Earnings Per Share $0.06 $0.05
COMMON SHARES
Basic Shares Outstanding 33.09M shares 32.96M shares
Diluted Shares Outstanding 33.15M shares 33.01M shares

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.13M $28.24M
YoY Change -14.55% 73.04%
Cash & Equivalents $24.13M $28.24M
Short-Term Investments
Other Short-Term Assets $290.0K $190.0K
YoY Change 52.63% -84.43%
Inventory
Prepaid Expenses
Receivables $3.027M $2.515M
Other Receivables $36.00 $3.390K
Total Short-Term Assets $27.45M $31.03M
YoY Change -11.54% 53.0%
LONG-TERM ASSETS
Property, Plant & Equipment $60.94M $61.50M
YoY Change -0.92% 31.25%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $110.0K $110.0K
YoY Change 0.0%
Other Assets $80.00K $140.0K
YoY Change -42.86% 600.0%
Total Long-Term Assets $61.22M $61.85M
YoY Change -1.02% 30.39%
TOTAL ASSETS
Total Short-Term Assets $27.45M $31.03M
Total Long-Term Assets $61.22M $61.85M
Total Assets $88.66M $92.88M
YoY Change -4.54% 37.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.032M $2.509M
YoY Change -19.01% -5.66%
Accrued Expenses $634.6K $839.3K
YoY Change -24.39% 44.39%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.037M $11.38M
YoY Change -73.31% 183.1%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.280M $770.0K
YoY Change 66.23% 5.48%
Total Long-Term Liabilities $1.280M $770.0K
YoY Change 66.23% 5.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.037M $11.38M
Total Long-Term Liabilities $1.280M $770.0K
Total Liabilities $20.16M $24.59M
YoY Change -18.04% 57.16%
SHAREHOLDERS EQUITY
Retained Earnings $27.13M $28.03M
YoY Change -3.19% 115.76%
Common Stock $33.07K $33.05K
YoY Change 0.06% 1.15%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $68.51M $68.28M
YoY Change
Total Liabilities & Shareholders Equity $88.66M $92.88M
YoY Change -4.54% 37.16%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $2.141M $1.817M
YoY Change 17.82% -41.25%
Depreciation, Depletion And Amortization $1.540M $1.273M
YoY Change 20.94% 4.53%
Cash From Operating Activities $4.200M $1.470M
YoY Change 185.71% -34.38%
INVESTING ACTIVITIES
Capital Expenditures -$510.0K -$4.850M
YoY Change -89.48% -26.18%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$510.0K -$5.160M
YoY Change -90.12% -14.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $110.8K $330.1K
YoY Change -66.45% -71.93%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.590M -2.150M
YoY Change 20.47% -21600.0%
NET CHANGE
Cash From Operating Activities 4.200M 1.470M
Cash From Investing Activities -510.0K -5.160M
Cash From Financing Activities -2.590M -2.150M
Net Change In Cash $1.101M -5.840M
YoY Change -118.85% 54.09%
FREE CASH FLOW
Cash From Operating Activities $4.200M $1.470M
Capital Expenditures -$510.0K -$4.850M
Free Cash Flow $4.710M $6.320M
YoY Change -25.47% -28.26%

Facts In Submission

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OperatingExpenses
6001412 USD
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
2727593 USD
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
2536459 USD
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
73073 USD
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
66984 USD
CY2016Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
34856 USD
CY2017Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
19851 USD
CY2017Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1841 USD
CY2017Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
0 USD
CY2017Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
726478 USD
CY2017Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
634642 USD
CY2017Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
89471 USD
CY2017Q3 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
49038 USD
CY2017Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
3822 USD
CY2017Q3 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
36 USD
CY2016Q3 us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
PaymentsForProceedsFromDerivativeInstrumentInvestingActivities
318708 USD
CY2017Q3 us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
PaymentsForProceedsFromDerivativeInstrumentInvestingActivities
0 USD
CY2016Q3 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
330070 USD
CY2017Q3 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
110753 USD
CY2016Q3 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1652290 USD
CY2017Q3 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2481471 USD
CY2016Q3 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
168575 USD
CY2017Q3 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
0 USD
CY2016Q3 us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
4818816 USD
CY2017Q3 us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
508042 USD
CY2016Q3 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
26347 USD
CY2017Q3 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
0 USD
CY2016Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
250990 USD
CY2017Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
0 USD
CY2017Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
387672 USD
CY2017Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
291376 USD
CY2017Q2 us-gaap Prepaid Insurance
PrepaidInsurance
169416 USD
CY2017Q3 us-gaap Prepaid Insurance
PrepaidInsurance
113554 USD
CY2017Q2 us-gaap Prepaid Taxes
PrepaidTaxes
121232 USD
CY2017Q3 us-gaap Prepaid Taxes
PrepaidTaxes
121231 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
61830757 USD
CY2017Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
60938375 USD
CY2017Q2 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
135377 USD
CY2017Q3 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
135377 USD
CY2017Q2 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
94688 USD
CY2017Q3 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
98959 USD
CY2017Q2 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
40689 USD
CY2017Q3 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
36418 USD
CY2017Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
2726702 USD
CY2017Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
3027283 USD
CY2016Q3 us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
1002440 USD
CY2017Q3 us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
0 USD
CY2017Q2 us-gaap Retainage Deposit
RetainageDeposit
7553 USD
CY2017Q3 us-gaap Retainage Deposit
RetainageDeposit
7553 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
27474811 USD
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
27133872 USD
CY2017Q2 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
108639 USD
CY2017Q3 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
162039 USD
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
7593940 USD
CY2017Q3 us-gaap Sales Revenue Net
SalesRevenueNet
8537871 USD
CY2016Q3 us-gaap Share Based Compensation
ShareBasedCompensation
311688 USD
CY2017Q3 us-gaap Share Based Compensation
ShareBasedCompensation
487484 USD
CY2017Q2 us-gaap Shares Outstanding
SharesOutstanding
33087308 shares
CY2017Q3 us-gaap Shares Outstanding
SharesOutstanding
33066717 shares
CY2017Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
CY2017Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
110753 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
68469855 USD
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
68505647 USD
CY2017Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
0 USD
CY2017Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
370745 USD
CY2016Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-14132 USD
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33007599 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33147508 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32957010 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33089244 shares
CY2017Q3 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates.&#160;</font><font style="font-family:inherit;font-size:10pt;"> The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates include (a) reserve quantities and estimated future cash flows associated with proved reserves, which significantly impact depletion expense and potential impairments of oil and natural gas properties, (b) asset retirement obligations, (c) stock-based compensation, (d) fair values of derivative assets and liabilities, (e) income taxes and the valuation of deferred tax assets and (f) commitments and contingencies. We analyze our estimates based on historical experience and various other assumptions that we believe to be reasonable. While we believe that our estimates and assumptions used in preparation of the consolidated financial statements are appropriate, actual results could differ from those estimates.</font></div></div>

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