2017 Q1 Form 10-Q Financial Statement

#000140658717000008 Filed on May 09, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $22.31M $37.62M
YoY Change -40.71% 0.65%
Cost Of Revenue $50.60M $19.00M
YoY Change 166.32% -2.06%
Gross Profit -$28.33M $18.58M
YoY Change -252.49% 3.15%
Gross Profit Margin -127.02% 49.39%
Selling, General & Admin $4.700M $6.500M
YoY Change -27.69% -19.75%
% of Gross Profit 34.99%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.485M $4.785M
YoY Change -68.97% -57.75%
% of Gross Profit 25.75%
Operating Expenses $9.700M $18.60M
YoY Change -47.85% -13.08%
Operating Profit $36.24M $13.59M
YoY Change 166.63% -496.9%
Interest Expense $2.235M $7.639M
YoY Change -70.74% -13.4%
% of Operating Profit 6.17% 56.21%
Other Income/Expense, Net
YoY Change
Pretax Income $41.04M $5.992M
YoY Change 584.88% -173.04%
Income Tax $16.21M $2.152M
% Of Pretax Income 39.5% 35.91%
Net Earnings $25.21M -$4.376M
YoY Change -675.98% -46.36%
Net Earnings / Revenue 113.0% -11.63%
Basic Earnings Per Share $0.60 -$0.13
Diluted Earnings Per Share $0.59 -$0.10
COMMON SHARES
Basic Shares Outstanding 42.10M shares 34.30M shares
Diluted Shares Outstanding 42.41M shares 42.32M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $337.4M $142.6M
YoY Change 136.61% 12.91%
Cash & Equivalents $337.4M $142.6M
Short-Term Investments
Other Short-Term Assets $2.400M $3.600M
YoY Change -33.33% 5.88%
Inventory $0.00 $106.5M
Prepaid Expenses
Receivables $9.100M $8.200M
Other Receivables $0.00 $0.00
Total Short-Term Assets $348.9M $260.9M
YoY Change 33.73% 81.69%
LONG-TERM ASSETS
Property, Plant & Equipment $2.621M $10.20M
YoY Change -74.29% -8.19%
Goodwill $0.00 $53.92M
YoY Change -100.0% -14.98%
Intangibles $1.941M
YoY Change -21.35%
Long-Term Investments $79.26M $79.01M
YoY Change 0.32% 20.85%
Other Assets $30.20M
YoY Change
Total Long-Term Assets $414.7M $687.2M
YoY Change -39.65% -37.15%
TOTAL ASSETS
Total Short-Term Assets $348.9M $260.9M
Total Long-Term Assets $414.7M $687.2M
Total Assets $763.6M $948.1M
YoY Change -19.46% -23.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.600M $8.600M
YoY Change -34.88% -22.52%
Accrued Expenses $10.40M $28.70M
YoY Change -63.76% -39.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $33.90M $49.30M
YoY Change -31.24% -28.13%
LONG-TERM LIABILITIES
Long-Term Debt $111.8M $372.8M
YoY Change -70.01% -14.18%
Other Long-Term Liabilities $30.60M $25.50M
YoY Change 20.0% -16.39%
Total Long-Term Liabilities $142.4M $398.3M
YoY Change -64.25% -14.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $33.90M $49.30M
Total Long-Term Liabilities $142.4M $398.3M
Total Liabilities $176.3M $447.6M
YoY Change -60.62% -16.12%
SHAREHOLDERS EQUITY
Retained Earnings $37.81M -$50.42M
YoY Change -174.98% -131.74%
Common Stock $594.7M $596.8M
YoY Change -0.35% 0.21%
Preferred Stock
YoY Change
Treasury Stock (at cost) $46.72M $48.34M
YoY Change -3.36% -9.01%
Treasury Stock Shares 3.005M shares 3.038M shares
Shareholders Equity $585.8M $498.0M
YoY Change
Total Liabilities & Shareholders Equity $763.6M $948.1M
YoY Change -19.46% -23.36%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $25.21M -$4.376M
YoY Change -675.98% -46.36%
Depreciation, Depletion And Amortization $1.485M $4.785M
YoY Change -68.97% -57.75%
Cash From Operating Activities -$2.379M $5.009M
YoY Change -147.49% -126.69%
INVESTING ACTIVITIES
Capital Expenditures -$2.400M -$3.900M
YoY Change -38.46% -85.28%
Acquisitions
YoY Change
Other Investing Activities $77.10M $55.40M
YoY Change 39.17% 2977.78%
Cash From Investing Activities $74.69M $51.45M
YoY Change 45.17% -308.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $0.00 $11.19M
YoY Change -100.0% 354.12%
Cash From Financing Activities -$676.0K -$10.25M
YoY Change -93.41% 2489.39%
NET CHANGE
Cash From Operating Activities -$2.379M $5.009M
Cash From Investing Activities $74.69M $51.45M
Cash From Financing Activities -$676.0K -$10.25M
Net Change In Cash $71.63M $46.20M
YoY Change 55.04% -205.33%
FREE CASH FLOW
Cash From Operating Activities -$2.379M $5.009M
Capital Expenditures -$2.400M -$3.900M
Free Cash Flow $21.00K $8.909M
YoY Change -99.76% 15.19%

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CY2017Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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41038000 USD
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IncomeLossFromContinuingOperationsPerBasicShare
0.11
CY2017Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.59
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0.09
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0.58
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-8216000 USD
CY2016Q1 us-gaap Increase Decrease In Accounts And Notes Receivable
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-13979000 USD
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1925000 USD
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CY2016Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-2303000 USD
CY2017Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
15433000 USD
CY2016Q1 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
0 USD
CY2017Q1 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-29000 USD
CY2016Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
660000 USD
CY2017Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
647000 USD
CY2016Q1 us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
7857000 shares
CY2017Q1 us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
0 shares
CY2016Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
161000 shares
CY2017Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
309000 shares
CY2016Q1 us-gaap Interest Expense
InterestExpense
7639000 USD
CY2017Q1 us-gaap Interest Expense
InterestExpense
2235000 USD
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1585000 USD
CY2017Q1 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
529000 USD
CY2016Q4 us-gaap Inventory Real Estate Land And Land Development Costs
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293003000 USD
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289909000 USD
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Liabilities
171090000 USD
CY2017Q1 us-gaap Liabilities
Liabilities
176266000 USD
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CY2017Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
763594000 USD
CY2016Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
5295000 USD
CY2017Q1 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
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LongTermDebt
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PaymentsToAcquireProductiveAssets
17000 USD
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PaymentsToMinorityShareholders
171000 USD
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NetCashProvidedByUsedInFinancingActivities
-10254000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-676000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
5009000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2379000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
-4376000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
25205000 USD
CY2016Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
80000 USD
CY2017Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
40000 USD
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3840000 USD
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24787000 USD
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NumberOfReportableSegments
3 segment
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OilAndGasProductionExpense
230000 USD
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OilAndGasProductionExpense
38315000 USD
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OilAndGasRevenue
1082000 USD
CY2017Q1 us-gaap Oil And Gas Revenue
OilAndGasRevenue
1497000 USD
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OperatingIncomeLoss
13590000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
36235000 USD
CY2016Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
12598000 USD
CY2017Q1 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
7238000 USD
CY2016Q4 us-gaap Other Assets
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CY2017Q1 us-gaap Other Assets
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OtherCostAndExpenseOperating
12091000 USD
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OtherCostAndExpenseOperating
4957000 USD
CY2016Q1 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
385000 USD
CY2017Q1 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
301000 USD
CY2016Q4 us-gaap Other Liabilities
OtherLiabilities
19702000 USD
CY2017Q1 us-gaap Other Liabilities
OtherLiabilities
28986000 USD
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OtherNoncashIncomeExpense
-1820000 USD
CY2017Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-945000 USD
CY2016Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
74000 USD
CY2017Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
676000 USD
CY2016Q1 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
438000 USD
CY2017Q1 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
56000 USD
CY2016Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
205000 USD
CY2017Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
980000 USD
CY2016Q1 us-gaap Payments To Acquire And Develop Real Estate
PaymentsToAcquireAndDevelopRealEstate
14794000 USD
CY2017Q1 us-gaap Payments To Acquire And Develop Real Estate
PaymentsToAcquireAndDevelopRealEstate
13740000 USD
CY2016Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
3019000 USD
CY2017Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
1915000 USD
CY2016Q1 us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
426000 USD
CY2017Q1 us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
2400000 USD
CY2016Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
3501000 USD
CY2016Q1 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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1567000 USD
CY2017Q1 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
1511000 USD
CY2016Q1 us-gaap Profit Loss
ProfitLoss
-4296000 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
25245000 USD
CY2017Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0 USD
CY2016Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
2000000 USD
CY2017Q1 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
2412000 USD
CY2016Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
1307000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
304000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
32227000 USD
CY2016Q1 us-gaap Proceeds From Sales Of Assets Investing Activities
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56828000 USD
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ProceedsFromSalesOfAssetsInvestingActivities
77510000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3116000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2621000 USD
CY2016Q4 us-gaap Real Estate Investment Property At Cost
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293003000 USD
CY2017Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
289909000 USD
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36098000 USD
CY2017Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
20752000 USD
CY2016Q1 us-gaap Recovery Of Direct Costs
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-306000 USD
CY2017Q1 us-gaap Recovery Of Direct Costs
RecoveryOfDirectCosts
-1180000 USD
CY2016Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
11185000 USD
CY2017Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
12602000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
37807000 USD
CY2016Q1 us-gaap Sales Of Real Estate
SalesOfRealEstate
26408000 USD
CY2017Q1 us-gaap Sales Of Real Estate
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20752000 USD
CY2016Q1 us-gaap Sales Revenue Net
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37618000 USD
CY2017Q1 us-gaap Sales Revenue Net
SalesRevenueNet
22305000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1380000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
843000 USD
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
600000 USD
CY2016Q1 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
23691 shares
CY2017Q1 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
75870 shares
CY2016Q1 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
165167 shares
CY2017Q1 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
182152 shares
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
560651000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
585821000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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562118000 USD
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
587328000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
3187253 shares
CY2017Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
3005101 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
49760000 USD
CY2017Q1 us-gaap Treasury Stock Value
TreasuryStockValue
46716000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
811000 USD
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42320000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42406000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34302000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42097000 shares

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