2015 Q1 Form 10-Q Financial Statement

#000127344115000021 Filed on May 07, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $76.20M $151.1M
YoY Change -49.57% -18.85%
Cost Of Revenue $31.40M $21.90M
YoY Change 43.38% -31.56%
Gross Profit $44.80M $129.2M
YoY Change -65.33% -16.21%
Gross Profit Margin 58.79% 85.51%
Selling, General & Admin $7.300M $12.90M
YoY Change -43.41% 43.33%
% of Gross Profit 16.29% 9.98%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $49.80M $44.30M
YoY Change 12.42% -18.86%
% of Gross Profit 111.16% 34.29%
Operating Expenses $97.20M $57.10M
YoY Change 70.23% -10.78%
Operating Profit -$52.40M $72.10M
YoY Change -172.68% -20.07%
Interest Expense $12.00M $7.400M
YoY Change 62.16% 10.45%
% of Operating Profit 10.26%
Other Income/Expense, Net $0.00 $0.00
YoY Change -100.0%
Pretax Income -$2.068M -$5.078M
YoY Change -59.28% 142.85%
Income Tax $69.00K $29.71M
% Of Pretax Income
Net Earnings -$44.87M $45.13M
YoY Change -199.42% -22.07%
Net Earnings / Revenue -58.88% 29.87%
Basic Earnings Per Share -$0.16 $0.16
Diluted Earnings Per Share -$0.16 $0.16
COMMON SHARES
Basic Shares Outstanding 286.2M shares 283.2M shares
Diluted Shares Outstanding 286.2M shares 288.6M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $211.5M $391.0M
YoY Change -45.91% 65.75%
Cash & Equivalents $203.5M $391.0M
Short-Term Investments $8.000M $22.80M
Other Short-Term Assets $6.600M $8.200M
YoY Change -19.51% 17.14%
Inventory $16.10M $14.41M
Prepaid Expenses $5.472M $7.025M
Receivables $64.83M $106.5M
Other Receivables $8.300M $16.30M
Total Short-Term Assets $307.2M $536.4M
YoY Change -42.72% 26.68%
LONG-TERM ASSETS
Property, Plant & Equipment $1.116B $1.296B
YoY Change -13.86% 5.35%
Goodwill $102.6M $102.6M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.394M $6.815M
YoY Change -35.52% -8.5%
Total Long-Term Assets $1.242B $1.424B
YoY Change -12.73% 5.64%
TOTAL ASSETS
Total Short-Term Assets $307.2M $536.4M
Total Long-Term Assets $1.242B $1.424B
Total Assets $1.550B $1.960B
YoY Change -20.94% 10.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $44.40M $51.73M
YoY Change -14.17% -21.68%
Accrued Expenses $60.33M $103.7M
YoY Change -41.82% 32.13%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $126.0M $279.1M
YoY Change -54.86% 58.04%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $32.80M $33.40M
YoY Change -1.8% 49.11%
Total Long-Term Liabilities $191.8M $203.2M
YoY Change -5.65% -15.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $126.0M $279.1M
Total Long-Term Liabilities $191.8M $203.2M
Total Liabilities $317.7M $482.3M
YoY Change -34.12% 15.43%
SHAREHOLDERS EQUITY
Retained Earnings $194.8M $456.1M
YoY Change -57.3% 33.13%
Common Stock $10.19M $10.19M
YoY Change 0.03% 13.53%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.232B $1.478B
YoY Change
Total Liabilities & Shareholders Equity $1.550B $1.960B
YoY Change -20.94% 10.67%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income -$44.87M $45.13M
YoY Change -199.42% -22.07%
Depreciation, Depletion And Amortization $49.80M $44.30M
YoY Change 12.42% -18.86%
Cash From Operating Activities $2.345M $36.16M
YoY Change -93.52% -67.06%
INVESTING ACTIVITIES
Capital Expenditures -$73.40M -$68.20M
YoY Change 7.62% -21.97%
Acquisitions $0.00
YoY Change
Other Investing Activities -$54.80M -$6.500M
YoY Change 743.08% 828.57%
Cash From Investing Activities -$128.3M -$74.64M
YoY Change 71.85% -15.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $502.0K $628.0K
YoY Change -20.06% -61.02%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $502.0K $628.0K
YoY Change -20.06% -61.02%
NET CHANGE
Cash From Operating Activities $2.345M $36.16M
Cash From Investing Activities -$128.3M -$74.64M
Cash From Financing Activities $502.0K $628.0K
Net Change In Cash -$125.4M -$37.85M
YoY Change 231.39% -262.53%
FREE CASH FLOW
Cash From Operating Activities $2.345M $36.16M
Capital Expenditures -$73.40M -$68.20M
Free Cash Flow $75.75M $104.4M
YoY Change -27.42% -47.07%

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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, Peru and Brazil. Until June 25, 2014, the Company also had business activities in Argentina.</font></div></div>

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