$EPM
EVOLUTION PETROLEUM CORP

2017 Q4 Form 10-Q Financial Statement

#000100665518000004 Filed on February 08, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2016 Q4
Revenue $11.07M $8.530M
YoY Change 29.74% 28.79%
Cost Of Revenue $2.770M $2.290M
YoY Change 20.96% 0.44%
Gross Profit $8.150M $6.240M
YoY Change 30.61% 43.78%
Gross Profit Margin 73.64% 73.16%
Selling, General & Admin $1.670M $1.240M
YoY Change 34.68% -39.81%
% of Gross Profit 20.49% 19.87%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.657M $1.308M
YoY Change 26.72% -11.15%
% of Gross Profit 20.33% 20.95%
Operating Expenses $6.097M $4.854M
YoY Change 25.6% -31.41%
Operating Profit $4.829M $3.675M
YoY Change 31.39% -907.8%
Interest Expense $20.46K $20.71K
YoY Change -1.23% 10.96%
% of Operating Profit 0.42% 0.56%
Other Income/Expense, Net
YoY Change
Pretax Income $4.825M $3.669M
YoY Change 31.51% 207.74%
Income Tax -$5.052M $1.361M
% Of Pretax Income -104.72% 37.1%
Net Earnings $9.877M $2.308M
YoY Change 328.01% 180.3%
Net Earnings / Revenue 89.25% 27.05%
Basic Earnings Per Share $0.30 $0.07
Diluted Earnings Per Share $0.30 $0.07
COMMON SHARES
Basic Shares Outstanding 33.11M shares 33.05M shares
Diluted Shares Outstanding 33.14M shares 33.08M shares

Balance Sheet

Concept 2017 Q4 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.74M $19.16M
YoY Change 34.34% 17.33%
Cash & Equivalents $25.74M $19.16M
Short-Term Investments
Other Short-Term Assets $830.0K $190.0K
YoY Change 336.84% -87.42%
Inventory
Prepaid Expenses
Receivables $4.078M $3.095M
Other Receivables $0.00 $6.014K
Total Short-Term Assets $30.65M $22.88M
YoY Change 33.96% 11.04%
LONG-TERM ASSETS
Property, Plant & Equipment $60.13M $63.88M
YoY Change -5.88% 30.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $110.0K $110.0K
YoY Change 0.0% 0.0%
Other Assets $70.00K $130.0K
YoY Change -46.15% 1200.0%
Total Long-Term Assets $60.39M $64.21M
YoY Change -5.96% 30.21%
TOTAL ASSETS
Total Short-Term Assets $30.65M $22.88M
Total Long-Term Assets $60.39M $64.21M
Total Assets $91.03M $87.09M
YoY Change 4.53% 24.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.400M $3.260M
YoY Change -26.37% -33.5%
Accrued Expenses $660.5K $701.0K
YoY Change -5.79% -44.46%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.061M $4.271M
YoY Change -28.34% -37.87%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.300M $780.0K
YoY Change 66.67% 13.04%
Total Long-Term Liabilities $1.300M $780.0K
YoY Change 66.67% 13.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.061M $4.271M
Total Long-Term Liabilities $1.300M $780.0K
Total Liabilities $14.94M $18.50M
YoY Change -19.26% 3.86%
SHAREHOLDERS EQUITY
Retained Earnings $34.52M $28.19M
YoY Change 22.48% 134.76%
Common Stock $33.17K $33.06K
YoY Change 0.33% 0.55%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $76.09M $68.59M
YoY Change
Total Liabilities & Shareholders Equity $91.03M $87.09M
YoY Change 4.53% 24.56%

Cashflow Statement

Concept 2017 Q4 2016 Q4
OPERATING ACTIVITIES
Net Income $9.877M $2.308M
YoY Change 328.01% 180.3%
Depreciation, Depletion And Amortization $1.657M $1.308M
YoY Change 26.72% -11.15%
Cash From Operating Activities $4.900M $4.380M
YoY Change 11.87% 92.95%
INVESTING ACTIVITIES
Capital Expenditures -$510.0K -$3.160M
YoY Change -83.86% 51.92%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$510.0K -$3.170M
YoY Change -83.91% 161.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.770M -10.30M
YoY Change -73.11% 871.7%
NET CHANGE
Cash From Operating Activities 4.900M 4.380M
Cash From Investing Activities -510.0K -3.170M
Cash From Financing Activities -2.770M -10.30M
Net Change In Cash 1.620M -9.090M
YoY Change -117.82% 976031318015998800.0%
FREE CASH FLOW
Cash From Operating Activities $4.900M $4.380M
Capital Expenditures -$510.0K -$3.160M
Free Cash Flow $5.410M $7.540M
YoY Change -28.25% 73.33%

Facts In Submission

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61790068 USD
CY2017Q4 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
60093807 USD
CY2016Q4 us-gaap Operating Expenses
OperatingExpenses
4854436 USD
us-gaap Operating Expenses
OperatingExpenses
9720783 USD
CY2017Q4 us-gaap Operating Expenses
OperatingExpenses
6237659 USD
us-gaap Operating Expenses
OperatingExpenses
12239071 USD
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
3675381 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
6402974 USD
CY2017Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
4829252 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
7365711 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
73073 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
30447 USD
CY2016Q4 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
18569 USD
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
53425 USD
CY2017Q4 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
19198 USD
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
39049 USD
CY2017Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
724639 USD
CY2017Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
660467 USD
CY2017Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
89471 USD
CY2017Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
55527 USD
CY2017Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
3822 USD
CY2017Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
0 USD
us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
PaymentsForProceedsFromDerivativeInstrumentInvestingActivities
318618 USD
us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
PaymentsForProceedsFromDerivativeInstrumentInvestingActivities
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
459858 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
395550 USD
us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
7932975 USD
us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
0 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3801962 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4969335 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
250990 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
0 USD
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
7978130 USD
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
1017358 USD
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
30447 USD
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
0 USD
CY2016Q4 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
0 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
250990 USD
CY2017Q4 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
0 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
0 USD
CY2017Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
387672 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
824048 USD
CY2017Q2 us-gaap Prepaid Insurance
PrepaidInsurance
169416 USD
CY2017Q4 us-gaap Prepaid Insurance
PrepaidInsurance
86904 USD
CY2017Q2 us-gaap Prepaid Taxes
PrepaidTaxes
121232 USD
CY2017Q4 us-gaap Prepaid Taxes
PrepaidTaxes
674028 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
32 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
61830757 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
60126072 USD
CY2017Q2 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
135377 USD
CY2017Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
135377 USD
CY2017Q2 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
94688 USD
CY2017Q4 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
103112 USD
CY2017Q2 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
40689 USD
CY2017Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
32265 USD
CY2017Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
2726702 USD
CY2017Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
4078153 USD
CY2016Q4 us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
0 USD
us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
1002440 USD
CY2017Q4 us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
0 USD
us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
0 USD
CY2017Q2 us-gaap Retainage Deposit
RetainageDeposit
7553 USD
CY2017Q4 us-gaap Retainage Deposit
RetainageDeposit
7589 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
27474811 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
34522856 USD
CY2017Q2 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
108641 USD
CY2017Q4 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
191503 USD
CY2016Q4 us-gaap Sales Revenue Net
SalesRevenueNet
8529817 USD
us-gaap Sales Revenue Net
SalesRevenueNet
16123757 USD
CY2017Q4 us-gaap Sales Revenue Net
SalesRevenueNet
11066911 USD
us-gaap Sales Revenue Net
SalesRevenueNet
19604782 USD
us-gaap Share Based Compensation
ShareBasedCompensation
586872 USD
us-gaap Share Based Compensation
ShareBasedCompensation
971810 USD
CY2017Q4 us-gaap Shares Outstanding
SharesOutstanding
33171514 shares
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
CY2017Q2 us-gaap Shares Outstanding
SharesOutstanding
33087308 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
395550 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
68469855 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
76094160 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-14132 USD
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33083027 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33037269 shares
CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33140278 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33140257 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33047166 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33002088 shares
CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33109448 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33099546 shares
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 depreciation, depletion and amortization 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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