2015 Q2 Form 10-Q Financial Statement

#000127344115000030 Filed on August 05, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 Q1 2014 Q2
Revenue $69.40M $76.20M $147.9M
YoY Change -53.08% -49.57% -1.6%
Cost Of Revenue $24.10M $31.40M $25.30M
YoY Change -4.74% 43.38% 5.42%
Gross Profit $45.20M $44.80M $122.5M
YoY Change -63.1% -65.33% -3.01%
Gross Profit Margin 65.13% 58.79% 82.83%
Selling, General & Admin $10.30M $7.300M $13.90M
YoY Change -25.9% -43.41% 52.75%
% of Gross Profit 22.79% 16.29% 11.35%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $106.5M $49.80M $46.20M
YoY Change 130.52% 12.42% -10.81%
% of Gross Profit 235.62% 111.16% 37.71%
Operating Expenses $79.80M $97.20M $56.00M
YoY Change 42.5% 70.23% -13.31%
Operating Profit -$34.60M -$52.40M $66.50M
YoY Change -152.03% -172.68% 7.78%
Interest Expense -$1.200M $12.00M -$6.800M
YoY Change -82.35% 62.16% -152.71%
% of Operating Profit -10.23%
Other Income/Expense, Net $0.00 $0.00 $0.00
YoY Change
Pretax Income -$37.76M -$2.068M $59.87M
YoY Change -163.07% -59.28% -19.68%
Income Tax $801.0K $69.00K $28.39M
% Of Pretax Income 47.41%
Net Earnings -$38.56M -$44.87M $9.137M
YoY Change -522.06% -199.42% -80.88%
Net Earnings / Revenue -55.57% -58.88% 6.18%
Basic Earnings Per Share -$0.13 -$0.16 $0.03
Diluted Earnings Per Share -$0.13 -$0.16 $0.03
COMMON SHARES
Basic Shares Outstanding 286.4M shares 286.2M shares 283.8M shares
Diluted Shares Outstanding 286.4M shares 286.2M shares 287.9M shares

Balance Sheet

Concept 2015 Q2 2015 Q1 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $176.1M $211.5M $346.6M
YoY Change -49.19% -45.91% 22.91%
Cash & Equivalents $166.4M $203.5M $332.4M
Short-Term Investments $9.700M $8.000M $46.20M
Other Short-Term Assets $5.700M $6.600M $6.600M
YoY Change -13.64% -19.51% -16.46%
Inventory $33.46M $16.10M $25.41M
Prepaid Expenses $3.867M $5.472M $4.362M
Receivables $51.33M $64.83M $111.2M
Other Receivables $28.80M $8.300M $15.00M
Total Short-Term Assets $295.2M $307.2M $504.8M
YoY Change -41.51% -42.72% 18.43%
LONG-TERM ASSETS
Property, Plant & Equipment $1.057B $1.116B $1.249B
YoY Change -15.33% -13.86% -0.65%
Goodwill $102.6M $102.6M $102.6M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.068M $4.394M $7.037M
YoY Change -13.77% -35.52% 0.93%
Total Long-Term Assets $1.184B $1.242B $1.373B
YoY Change -13.78% -12.73% -0.95%
TOTAL ASSETS
Total Short-Term Assets $295.2M $307.2M $504.8M
Total Long-Term Assets $1.184B $1.242B $1.373B
Total Assets $1.479B $1.550B $1.878B
YoY Change -21.23% -20.94% 3.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $34.26M $44.40M $58.35M
YoY Change -41.29% -14.17% -11.89%
Accrued Expenses $53.35M $60.33M $98.73M
YoY Change -45.97% -41.82% 24.78%
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 $95.65M $126.0M $176.7M
YoY Change -45.88% -54.86% -6.35%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $32.80M $32.80M $26.60M
YoY Change 23.31% -1.8% 25.47%
Total Long-Term Liabilities $189.0M $191.8M $206.1M
YoY Change -8.28% -5.65% -6.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $95.65M $126.0M $176.7M
Total Long-Term Liabilities $189.0M $191.8M $206.1M
Total Liabilities $284.7M $317.7M $382.9M
YoY Change -25.64% -34.12% -6.22%
SHAREHOLDERS EQUITY
Retained Earnings $156.2M $194.8M $465.2M
YoY Change -66.43% -57.3% 19.18%
Common Stock $10.19M $10.19M $10.19M
YoY Change 0.01% 0.03% 4.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.195B $1.232B $1.495B
YoY Change
Total Liabilities & Shareholders Equity $1.479B $1.550B $1.878B
YoY Change -21.23% -20.94% 3.61%

Cashflow Statement

Concept 2015 Q2 2015 Q1 2014 Q2
OPERATING ACTIVITIES
Net Income -$38.56M -$44.87M $9.137M
YoY Change -522.06% -199.42% -80.88%
Depreciation, Depletion And Amortization $106.5M $49.80M $46.20M
YoY Change 130.52% 12.42% -10.81%
Cash From Operating Activities $400.0K $2.345M -$12.30M
YoY Change -103.25% -93.52% -108.85%
INVESTING ACTIVITIES
Capital Expenditures -$18.40M -$73.40M -$90.00M
YoY Change -79.56% 7.62% 9.76%
Acquisitions $0.00
YoY Change
Other Investing Activities -$22.20M -$54.80M $37.20M
YoY Change -159.68% 743.08% -400.0%
Cash From Investing Activities -$40.40M -$128.3M -$52.80M
YoY Change -23.48% 71.85% -44.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $502.0K
YoY Change -20.06%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 100.0K $502.0K 6.500M
YoY Change -98.46% -20.06% 364.29%
NET CHANGE
Cash From Operating Activities 400.0K $2.345M -12.30M
Cash From Investing Activities -40.40M -$128.3M -52.80M
Cash From Financing Activities 100.0K $502.0K 6.500M
Net Change In Cash -39.90M -$125.4M -58.60M
YoY Change -31.91% 231.39% -227.11%
FREE CASH FLOW
Cash From Operating Activities $400.0K $2.345M -$12.30M
Capital Expenditures -$18.40M -$73.40M -$90.00M
Free Cash Flow $18.80M $75.75M $77.70M
YoY Change -75.8% -27.42% -64.84%

Facts In Submission

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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.</font></div></div>

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