2016 Q4 Form 10-Q Financial Statement

#000127344116000088 Filed on November 07, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q4
Revenue $91.60M $68.50M $54.80M
YoY Change 67.15% -9.51% -44.59%
Cost Of Revenue $31.90M $31.40M $26.50M
YoY Change 20.38% -7.1% -19.21%
Gross Profit $59.70M $37.10M $28.30M
YoY Change 110.95% -11.46% -57.19%
Gross Profit Margin 65.17% 54.16% 51.64%
Selling, General & Admin $12.60M $5.600M $6.900M
YoY Change 82.61% -29.11% -37.84%
% of Gross Profit 21.11% 15.09% 24.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $35.00M $35.70M $33.10M
YoY Change 5.74% -390.24% -27.73%
% of Gross Profit 58.63% 96.23% 116.96%
Operating Expenses $53.50M $41.30M -$177.9M
YoY Change -130.07% -80.59% -424.04%
Operating Profit $6.200M -$4.200M $206.2M
YoY Change -96.99% -97.54% 1741.07%
Interest Expense -$6.100M -$6.000M -$4.700M
YoY Change 29.79% -156.6% -117.6%
% of Operating Profit -98.39% -2.28%
Other Income/Expense, Net $0.00 $0.00 $0.00
YoY Change -140.62% -200.0%
Pretax Income -$157.5M -$336.2M -$124.6M
YoY Change 26.4% 108.95% -45.16%
Income Tax -$30.10M -$106.6M -$41.90M
% Of Pretax Income
Net Earnings -$127.4M -$229.6M -$82.70M
YoY Change 54.05% 125.39% -69.35%
Net Earnings / Revenue -139.08% -335.21% -150.91%
Basic Earnings Per Share
Diluted Earnings Per Share -$343.3K -$713.7K -$292.0K
COMMON SHARES
Basic Shares Outstanding 347.3M shares 321.7M shares 274.5M shares
Diluted Shares Outstanding 321.7M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.20M $50.60M $151.6M
YoY Change -83.38% -73.92% -55.34%
Cash & Equivalents $25.18M $48.07M $145.3M
Short-Term Investments $0.00 $2.500M $6.300M
Other Short-Term Assets $26.70M $3.003M $5.848M
YoY Change 356.57% -31.75% -25.37%
Inventory $7.766M $11.81M $19.06M
Prepaid Expenses
Receivables $45.70M $20.83M $29.22M
Other Receivables $32.90M $31.70M $28.70M
Total Short-Term Assets $131.7M $136.3M $234.4M
YoY Change -43.83% -48.81% -49.43%
LONG-TERM ASSETS
Property, Plant & Equipment $1.067B $1.204B $789.0M
YoY Change 35.19% 36.46% -30.11%
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 $23.63M $24.85M $16.86M
YoY Change 40.11% 272.5% 83.23%
Total Long-Term Assets $1.236B $1.351B $911.7M
YoY Change 35.6% 34.47% -27.09%
TOTAL ASSETS
Total Short-Term Assets $131.7M $136.3M $234.4M
Total Long-Term Assets $1.236B $1.351B $911.7M
Total Assets $1.368B $1.487B $1.146B
YoY Change 19.35% 17.02% -33.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $107.1M $96.80M $70.80M
YoY Change 51.27% 272.54% -37.01%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $127.5M $0.00
YoY Change
Total Short-Term Liabilities $155.0M $234.5M $73.99M
YoY Change 109.52% 210.29% -67.02%
LONG-TERM LIABILITIES
Long-Term Debt $197.1M $172.8M $0.00
YoY Change
Other Long-Term Liabilities $11.43M $11.21M $4.815M
YoY Change 137.28% -66.72% -86.88%
Total Long-Term Liabilities $353.9M $390.1M $70.49M
YoY Change 402.06% 260.26% -66.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $155.0M $234.5M $73.99M
Total Long-Term Liabilities $353.9M $390.1M $70.49M
Total Liabilities $508.9M $624.6M $144.5M
YoY Change 252.24% 239.72% -66.97%
SHAREHOLDERS EQUITY
Retained Earnings -$494.0M -$366.6M -$28.41M
YoY Change 1638.91% -774.98% -111.85%
Common Stock $10.30M $10.26M $10.19M
YoY Change 1.15% 0.72% -0.04%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $859.0M $862.6M $1.002B
YoY Change
Total Liabilities & Shareholders Equity $1.368B $1.487B $1.146B
YoY Change 19.35% 17.02% -33.13%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q4
OPERATING ACTIVITIES
Net Income -$127.4M -$229.6M -$82.70M
YoY Change 54.05% 125.39% -69.35%
Depreciation, Depletion And Amortization $35.00M $35.70M $33.10M
YoY Change 5.74% -390.24% -27.73%
Cash From Operating Activities $6.600M $48.20M $3.700M
YoY Change 78.38% -13.77% -95.16%
INVESTING ACTIVITIES
Capital Expenditures -$58.10M -$25.10M -$41.80M
YoY Change 39.0% 9.13% -70.33%
Acquisitions
YoY Change
Other Investing Activities $5.600M -$413.1M -$400.0K
YoY Change -1500.0% -68950.0% -100.92%
Cash From Investing Activities -$52.40M -$438.3M -$42.30M
YoY Change 23.88% 1848.0% -56.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 17.00M 275.8M -3.300M
YoY Change -615.15% -4278.79% 3200.0%
NET CHANGE
Cash From Operating Activities 6.600M 48.20M 3.700M
Cash From Investing Activities -52.40M -438.3M -42.30M
Cash From Financing Activities 17.00M 275.8M -3.300M
Net Change In Cash -28.80M -114.3M -41.90M
YoY Change -31.26% -526.49% 98.58%
FREE CASH FLOW
Cash From Operating Activities $6.600M $48.20M $3.700M
Capital Expenditures -$58.10M -$25.10M -$41.80M
Free Cash Flow $64.70M $73.30M $45.50M
YoY Change 42.2% -7.1% -79.06%

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us-gaap Derivatives Methods Of Accounting Nonhedging Derivatives
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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-style:italic;">Derivatives </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's commodity price and foreign currency derivatives are recorded on its interim unaudited condensed consolidated balance sheet at fair value as either an asset or a liability with changes in fair value recognized in the interim unaudited condensed consolidated statements of operations. While the Company utilizes derivative instruments to manage the price risk attributable to its expected oil production and foreign exchange risk, it has elected not to designate its derivative instruments as accounting hedges under the accounting guidance. </font></div></div>
us-gaap Nature Of Operations
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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 Delaware corporation (the &#8220;Company&#8221; or &#8220;Gran Tierra&#8221;), is a publicly traded company focused on oil and natural gas exploration and production in Colombia. The Company also has business activities in Peru and Brazil.</font></div></div>

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