$GTE
GRAN TIERRA ENERGY INC.

2013 Q4 Form 10-Q Financial Statement

#000127344113000045 Filed on November 12, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $139.6M $170.8M $168.6M
YoY Change 114.44% 1.3% 11.8%
Cost Of Revenue $29.10M $25.10M $36.30M
YoY Change 609.76% -30.85% 67.28%
Gross Profit $110.6M $145.8M $132.3M
YoY Change 81.31% 10.2% 2.48%
Gross Profit Margin 79.23% 85.36% 78.47%
Selling, General & Admin $11.20M $11.80M $12.90M
YoY Change 3633.33% -8.53% -20.86%
% of Gross Profit 10.13% 8.09% 9.75%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $43.60M $51.50M $43.00M
YoY Change 246.03% 19.77% 4.37%
% of Gross Profit 39.42% 35.32% 32.5%
Operating Expenses $54.70M $63.00M $57.90M
YoY Change 130.8% 8.81% -1.53%
Operating Profit $55.90M $82.80M $74.40M
YoY Change 49.87% 11.29% 5.83%
Interest Expense $1.100M $100.0K $1.600M
YoY Change -237.5% -93.75% -90.06%
% of Operating Profit 1.97% 0.12% 2.15%
Other Income/Expense, Net $0.00 $0.00 $0.00
YoY Change -50.0%
Pretax Income $54.90M $82.81M $76.01M
YoY Change -3.17% 8.94% -3.85%
Income Tax $23.70M $42.60M $31.41M
% Of Pretax Income 43.17% 51.44% 41.32%
Net Earnings -$12.50M $33.06M $44.60M
YoY Change -129.55% -25.88% -9.16%
Net Earnings / Revenue -8.95% 19.35% 26.45%
Basic Earnings Per Share $0.12 $0.16
Diluted Earnings Per Share -$44.14K $0.12 $0.16
COMMON SHARES
Basic Shares Outstanding 272.2M shares 283.1M shares 281.7M shares
Diluted Shares Outstanding 286.0M shares 284.6M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $428.8M $353.1M $127.6M
YoY Change 101.69% 176.72% -43.64%
Cash & Equivalents $428.8M $353.1M $127.6M
Short-Term Investments $0.00 $56.50M $28.10M
Other Short-Term Assets $10.20M $11.30M $8.700M
YoY Change 27.5% 29.89% 14.47%
Inventory $13.73M $16.40M $21.60M
Prepaid Expenses $6.450M $5.365M $2.510M
Receivables $49.70M $143.9M $171.9M
Other Receivables $10.00M $6.100M $20.50M
Total Short-Term Assets $512.4M $530.7M $350.3M
YoY Change 23.81% 51.51% -13.51%
LONG-TERM ASSETS
Property, Plant & Equipment $1.260B $1.234B $1.119B
YoY Change 4.54% 10.32% 9.98%
Goodwill $102.6M $102.6M $102.6M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.163M $6.746M $6.553M
YoY Change 8.19% 2.95% -55.72%
Total Long-Term Assets $1.392B $1.364B $1.273B
YoY Change 5.54% 7.15% 12.15%
TOTAL ASSETS
Total Short-Term Assets $512.4M $530.7M $350.3M
Total Long-Term Assets $1.392B $1.364B $1.273B
Total Assets $1.905B $1.894B $1.623B
YoY Change 9.91% 16.72% 5.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $72.40M $70.78M $55.55M
YoY Change -29.2% 27.42% 34.18%
Accrued Expenses $89.57M $79.93M $67.19M
YoY Change 34.85% 18.97% 6.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $266.6M $241.1M $158.4M
YoY Change 39.28% 52.24% -9.24%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $31.00M $29.40M $18.90M
YoY Change 42.2% 55.56% 7.39%
Total Long-Term Liabilities $208.1M $213.3M $218.4M
YoY Change -16.79% -2.33% 1141.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $266.6M $241.1M $158.4M
Total Long-Term Liabilities $208.1M $213.3M $218.4M
Total Liabilities $474.6M $454.4M $376.8M
YoY Change 7.52% 20.61% -6.78%
SHAREHOLDERS EQUITY
Retained Earnings $411.0M $423.4M $242.4M
YoY Change 44.36% 74.67% 59.0%
Common Stock $10.19M $10.02M $7.986M
YoY Change 27.56% 25.47%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.430B $1.440B $1.246B
YoY Change
Total Liabilities & Shareholders Equity $1.905B $1.894B $1.623B
YoY Change 9.91% 16.72% 5.41%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income -$12.50M $33.06M $44.60M
YoY Change -129.55% -25.88% -9.16%
Depreciation, Depletion And Amortization $43.60M $51.50M $43.00M
YoY Change 246.03% 19.77% 4.37%
Cash From Operating Activities $174.5M $100.3M $41.20M
YoY Change 24.29% 143.45% -61.67%
INVESTING ACTIVITIES
Capital Expenditures -$96.30M -$80.20M -$43.50M
YoY Change 498.14% 84.37% -37.59%
Acquisitions
YoY Change
Other Investing Activities -$100.0K $50.60M $1.300M
YoY Change -99.75% 3792.31% -84.52%
Cash From Investing Activities -$96.40M -$29.70M -$42.10M
YoY Change 72.45% -29.45% -31.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 300.0K 500.0K 100.0K
YoY Change -40.0% 400.0% -100.32%
NET CHANGE
Cash From Operating Activities 174.5M 100.3M 41.20M
Cash From Investing Activities -96.40M -29.70M -42.10M
Cash From Financing Activities 300.0K 500.0K 100.0K
Net Change In Cash 78.40M 71.10M -800.0K
YoY Change -7.76% -8987.5% -105.3%
FREE CASH FLOW
Cash From Operating Activities $174.5M $100.3M $41.20M
Capital Expenditures -$96.30M -$80.20M -$43.50M
Free Cash Flow $270.8M $180.5M $84.70M
YoY Change 73.04% 113.11% -52.2%

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Description of Business</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Gran Tierra Energy Inc., a Nevada corporation (the &#8220;Company&#8221; or &#8220;Gran Tierra&#8221;), is a publicly traded oil and gas company engaged in the acquisition, exploration, development and production of oil and natural gas properties. The Company&#8217;s principal business activities are in Colombia, Argentina, Peru and Brazil.</font></div></div>
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dei Entity Filer Category
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dei Entity Registrant Name
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GRAN TIERRA ENERGY INC.
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CY2013Q3 gte Net And Comprehensive Income
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gte Number Of Common Voting Shares Per Exchangeable Share
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gte Total Revenue And Other Income
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dei Amendment Flag
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dei Document Fiscal Period Focus
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dei Document Fiscal Year Focus
DocumentFiscalYearFocus
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dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001273441
CY2013Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
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dei Document Period End Date
DocumentPeriodEndDate
2013-09-30

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