$EPM
EVOLUTION PETROLEUM CORP

2018 Q4 Form 10-Q Financial Statement

#000100665519000008 Filed on February 08, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2017 Q4
Revenue $11.05M $11.07M
YoY Change -0.17% 29.74%
Cost Of Revenue $3.452M $2.770M
YoY Change 24.63% 20.96%
Gross Profit $7.596M $8.150M
YoY Change -6.8% 30.61%
Gross Profit Margin 68.75% 73.64%
Selling, General & Admin $1.259M $1.670M
YoY Change -24.64% 34.68%
% of Gross Profit 16.57% 20.49%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.604M $1.657M
YoY Change -3.21% 26.72%
% of Gross Profit 21.11% 20.33%
Operating Expenses $6.314M $6.097M
YoY Change 3.57% 25.6%
Operating Profit $4.734M $4.829M
YoY Change -1.98% 31.39%
Interest Expense $29.35K $20.46K
YoY Change 43.45% -1.23%
% of Operating Profit 0.62% 0.42%
Other Income/Expense, Net
YoY Change
Pretax Income $4.764M $4.825M
YoY Change -1.25% 31.51%
Income Tax $859.7K -$5.052M
% Of Pretax Income 18.04% -104.72%
Net Earnings $3.905M $9.877M
YoY Change -60.47% 328.01%
Net Earnings / Revenue 35.34% 89.25%
Basic Earnings Per Share $0.12 $0.30
Diluted Earnings Per Share $0.12 $0.30
COMMON SHARES
Basic Shares Outstanding 33.17M shares 33.11M shares
Diluted Shares Outstanding 33.18M shares 33.14M shares

Balance Sheet

Concept 2018 Q4 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $30.00M $25.74M
YoY Change 16.55% 34.34%
Cash & Equivalents $30.00M $25.74M
Short-Term Investments
Other Short-Term Assets $588.5K $830.0K
YoY Change -29.1% 336.84%
Inventory
Prepaid Expenses
Receivables $3.434M $4.078M
Other Receivables $0.00 $0.00
Total Short-Term Assets $34.03M $30.65M
YoY Change 11.04% 33.96%
LONG-TERM ASSETS
Property, Plant & Equipment $62.16M $60.13M
YoY Change 3.39% -5.88%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $108.8K $110.0K
YoY Change -1.14% 0.0%
Other Assets $34.62K $70.00K
YoY Change -50.54% -46.15%
Total Long-Term Assets $62.39M $60.39M
YoY Change 3.32% -5.96%
TOTAL ASSETS
Total Short-Term Assets $34.03M $30.65M
Total Long-Term Assets $62.39M $60.39M
Total Assets $96.42M $91.03M
YoY Change 5.92% 4.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.705M $2.400M
YoY Change 12.71% -26.37%
Accrued Expenses $363.2K $660.5K
YoY Change -45.01% -5.79%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.205M $3.061M
YoY Change 4.71% -28.34%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.468M $1.300M
YoY Change 12.9% 66.67%
Total Long-Term Liabilities $1.468M $1.300M
YoY Change 12.9% 66.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.205M $3.061M
Total Long-Term Liabilities $1.468M $1.300M
Total Liabilities $15.73M $14.94M
YoY Change 5.33% -19.26%
SHAREHOLDERS EQUITY
Retained Earnings $38.56M $34.52M
YoY Change 11.71% 22.48%
Common Stock $33.19K $33.17K
YoY Change 0.05% 0.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $80.69M $76.09M
YoY Change
Total Liabilities & Shareholders Equity $96.42M $91.03M
YoY Change 5.92% 4.53%

Cashflow Statement

Concept 2018 Q4 2017 Q4
OPERATING ACTIVITIES
Net Income $3.905M $9.877M
YoY Change -60.47% 328.01%
Depreciation, Depletion And Amortization $1.604M $1.657M
YoY Change -3.21% 26.72%
Cash From Operating Activities $6.484M $4.900M
YoY Change 32.33% 11.87%
INVESTING ACTIVITIES
Capital Expenditures -$1.961M -$510.0K
YoY Change 284.52% -83.86%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$1.961M -$510.0K
YoY Change 284.52% -83.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.364M -2.770M
YoY Change 21.43% -73.11%
NET CHANGE
Cash From Operating Activities 6.484M 4.900M
Cash From Investing Activities -1.961M -510.0K
Cash From Financing Activities -3.364M -2.770M
Net Change In Cash 1.160M 1.620M
YoY Change -28.41% -117.82%
FREE CASH FLOW
Cash From Operating Activities $6.484M $4.900M
Capital Expenditures -$1.961M -$510.0K
Free Cash Flow $8.445M $5.410M
YoY Change 56.11% -28.25%

Facts In Submission

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CY2017Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
4829252 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
7365711 USD
CY2018Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
4733747 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
10728674 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
30447 USD
CY2017Q4 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
19198 USD
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
39049 USD
CY2018Q4 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
18726 USD
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
38104 USD
CY2018Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
874886 USD
CY2018Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
363208 USD
CY2018Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
82940 USD
CY2018Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
62779 USD
CY2018Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
918 USD
CY2018Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
395550 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
138638 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4969335 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
6634896 USD
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
1017358 USD
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
5048987 USD
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
0 USD
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
2066 USD
CY2018Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
524507 USD
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
594555 USD
CY2018Q2 us-gaap Prepaid Insurance
PrepaidInsurance
198558 USD
CY2018Q4 us-gaap Prepaid Insurance
PrepaidInsurance
87234 USD
CY2018Q2 us-gaap Prepaid Taxes
PrepaidTaxes
231920 USD
CY2018Q4 us-gaap Prepaid Taxes
PrepaidTaxes
438453 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
61270153 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
62161876 USD
CY2018Q2 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
143223 USD
CY2018Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
145289 USD
CY2018Q2 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
112816 USD
CY2018Q4 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
121102 USD
CY2018Q2 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
30407 USD
CY2018Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
24187 USD
CY2018Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
3941916 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
35498754 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
38564224 USD
CY2017Q4 us-gaap Revenues
Revenues
10926220 USD
CY2018Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
3434227 USD
CY2018Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
2751289 USD
CY2018Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
0 USD
CY2018Q2 us-gaap Retainage Deposit
RetainageDeposit
11089 USD
CY2018Q4 us-gaap Retainage Deposit
RetainageDeposit
6089 USD
us-gaap Revenues
Revenues
19328187 USD
CY2018Q4 us-gaap Revenues
Revenues
11048118 USD
us-gaap Revenues
Revenues
23355197 USD
CY2018Q2 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
89773 USD
CY2018Q4 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
0 USD
us-gaap Share Based Compensation
ShareBasedCompensation
971810 USD
us-gaap Share Based Compensation
ShareBasedCompensation
469484 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.040
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.418
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0269
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P2Y9M26D
CY2018Q2 us-gaap Shares Outstanding
SharesOutstanding
33080543 shares
CY2018Q4 us-gaap Shares Outstanding
SharesOutstanding
33186665 shares
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
138638 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
77289479 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
80685795 USD
CY2018Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
122760 USD
CY2018Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
136124 USD
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
CY2018Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33176503 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33147775 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
CY2018Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33167159 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33134726 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;"> &#160;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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