$ICDIQ
Independence Contract Drilling, Inc.

2015 Q1 Form 10-Q Financial Statement

#000153702815000008 Filed on May 11, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $22.31M $13.55M
YoY Change 64.63% 64.09%
Cost Of Revenue $13.11M $8.780M
YoY Change 49.32% 47.81%
Gross Profit $9.200M $4.770M
YoY Change 92.87% 105.6%
Gross Profit Margin 41.24% 35.21%
Selling, General & Admin $3.827M $2.094M
YoY Change 82.76% -0.29%
% of Gross Profit 41.6% 43.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.290M $3.420M
YoY Change 25.44% 60.56%
% of Gross Profit 46.63% 71.7%
Operating Expenses $3.827M $2.094M
YoY Change 82.76% -50.38%
Operating Profit $1.532M -$5.199M
YoY Change -129.47% 179.22%
Interest Expense -$310.0K -$390.0K
YoY Change -20.51% -9.3%
% of Operating Profit -20.23%
Other Income/Expense, Net
YoY Change
Pretax Income $1.220M -$5.590M
YoY Change -121.82% 143.04%
Income Tax -$155.0K -$1.885M
% Of Pretax Income -12.7%
Net Earnings $1.375M -$3.705M
YoY Change -137.11% 118.46%
Net Earnings / Revenue 6.16% -27.35%
Basic Earnings Per Share $0.06 -$0.30
Diluted Earnings Per Share $0.06 -$0.30
COMMON SHARES
Basic Shares Outstanding 24.63M shares 12.25M shares
Diluted Shares Outstanding 24.63M shares 12.25M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.00M $3.100M
YoY Change 254.84%
Cash & Equivalents $11.04M $3.111M
Short-Term Investments
Other Short-Term Assets $3.900M $12.20M
YoY Change -68.03%
Inventory $2.200M $1.300M
Prepaid Expenses
Receivables $18.00M $10.80M
Other Receivables $0.00 $0.00
Total Short-Term Assets $35.13M $27.30M
YoY Change 28.69%
LONG-TERM ASSETS
Property, Plant & Equipment $273.9M $140.3M
YoY Change 95.24%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.580M $2.000M
YoY Change 29.0%
Total Long-Term Assets $276.5M $175.0M
YoY Change 58.0%
TOTAL ASSETS
Total Short-Term Assets $35.13M $27.30M
Total Long-Term Assets $276.5M $175.0M
Total Assets $311.6M $202.3M
YoY Change 54.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $30.01M $12.50M
YoY Change 140.1%
Accrued Expenses $5.386M $2.200M
YoY Change 144.82%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $35.65M $17.60M
YoY Change 102.57%
LONG-TERM LIABILITIES
Long-Term Debt $35.90M $38.10M
YoY Change -5.77%
Other Long-Term Liabilities $400.0K $3.200M
YoY Change -87.5%
Total Long-Term Liabilities $36.30M $41.30M
YoY Change -12.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $35.65M $17.60M
Total Long-Term Liabilities $36.30M $41.30M
Total Liabilities $72.37M $60.60M
YoY Change 19.42%
SHAREHOLDERS EQUITY
Retained Earnings -$33.91M
YoY Change
Common Stock $274.2M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $971.0K
YoY Change
Treasury Stock Shares 85.01K shares
Shareholders Equity $239.3M $141.7M
YoY Change
Total Liabilities & Shareholders Equity $311.6M $202.3M
YoY Change 54.05%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $1.375M -$3.705M
YoY Change -137.11% 118.46%
Depreciation, Depletion And Amortization $4.290M $3.420M
YoY Change 25.44% 60.56%
Cash From Operating Activities $5.320M -$4.740M
YoY Change -212.24% -407.79%
INVESTING ACTIVITIES
Capital Expenditures $21.28M $12.43M
YoY Change 71.2% -186.15%
Acquisitions
YoY Change
Other Investing Activities $2.990M $460.0K
YoY Change 550.0% 64.29%
Cash From Investing Activities -$18.29M -$11.97M
YoY Change 52.8% -15.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 13.26M 17.09M
YoY Change -22.41% -42825.0%
NET CHANGE
Cash From Operating Activities 5.320M -4.740M
Cash From Investing Activities -18.29M -11.97M
Cash From Financing Activities 13.26M 17.09M
Net Change In Cash 290.0K 380.0K
YoY Change -23.68% -103.0%
FREE CASH FLOW
Cash From Operating Activities $5.320M -$4.740M
Capital Expenditures $21.28M $12.43M
Free Cash Flow -$15.96M -$17.17M
YoY Change -7.04% -207.53%

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CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
448000 USD
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
933000 USD
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
0 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
0.00
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.00
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
343150 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
343150 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
13.72
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
13.72
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
0 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
0.00
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
801485 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
12.74
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
0 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0.00
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.00
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
963196 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
963196 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.74
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.74
CY2015Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.00
CY2015Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.00
CY2014Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
360316 shares
CY2015Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
161711 shares
CY2015Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
0.00
CY2014Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
4.32
CY2015Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
3.70
CY2015Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P7Y1M0D
CY2015Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
198605 shares
CY2015Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
4.84
CY2015Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2015Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
0 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
236736000 USD
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
239265000 USD
CY2014Q3 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
1.57
CY2014Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
1710000 USD
CY2015Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
1289000 USD
CY2015Q1 us-gaap Treasury Stock Number Of Shares Held
TreasuryStockNumberOfSharesHeld
85011 shares
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
85011 shares
CY2015Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
85011 shares
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
971000 USD
CY2015Q1 us-gaap Treasury Stock Value
TreasuryStockValue
971000 USD
CY2014Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2015Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12251000 shares
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24629000 shares
CY2014Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
12251000 shares
CY2015Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
24629000 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12251000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24629000 shares

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icd-20150331.xml Edgar Link completed
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icd-20150331_pre.xml Edgar Link unprocessable
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