2014 Q2 Form 10-Q Financial Statement

#000119312514187771 Filed on May 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2014 Q1 2013 Q1
Revenue $90.56M $80.31M $94.33M
YoY Change 4.33% -14.87% 2.68%
Cost Of Revenue $700.0K $700.0K $800.0K
YoY Change 40.0% -12.5% 14.29%
Gross Profit $89.90M $79.70M $93.50M
YoY Change 4.17% -14.76% 2.52%
Gross Profit Margin 99.27% 99.24% 99.12%
Selling, General & Admin $17.50M $12.60M $15.90M
YoY Change 33.59% -20.75% 13.57%
% of Gross Profit 19.47% 15.81% 17.01%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $16.35M $14.65M $14.76M
YoY Change -6.09% -0.78% 18.96%
% of Gross Profit 18.19% 18.38% 15.79%
Operating Expenses $40.16M $27.87M $31.80M
YoY Change 27.6% -12.37% 17.58%
Operating Profit $50.40M $52.44M $62.53M
YoY Change -8.91% -16.14% -3.54%
Interest Expense $19.04M $19.86M $14.66M
YoY Change 31.84% 35.44% 8.13%
% of Operating Profit 37.77% 37.87% 23.45%
Other Income/Expense, Net -$19.00M -$19.83M
YoY Change
Pretax Income $31.40M $32.60M $47.90M
YoY Change -23.6% -31.94% -6.63%
Income Tax $0.00
% Of Pretax Income 0.0%
Net Earnings $31.41M $32.61M $47.91M
YoY Change -23.52% -31.94% -6.63%
Net Earnings / Revenue 34.68% 40.6% 50.78%
Basic Earnings Per Share
Diluted Earnings Per Share $2.574M $2.964M $4.394M
COMMON SHARES
Basic Shares Outstanding 110.4M shares 109.8M shares 109.8M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q2 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $70.00M $54.80M $76.20M
YoY Change -33.46% -28.08% -29.05%
Cash & Equivalents $70.01M $54.83M $76.15M
Short-Term Investments
Other Short-Term Assets $1.291M $1.585M $802.0K
YoY Change -68.49% 97.63% 33.67%
Inventory
Prepaid Expenses
Receivables $34.72M $38.51M $34.59M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $115.0M $105.7M $124.5M
YoY Change -24.76% -15.13% -19.77%
LONG-TERM ASSETS
Property, Plant & Equipment $24.04M $25.17M $30.83M
YoY Change -17.88% -18.38% -97.78%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $262.7M $267.4M $298.6M
YoY Change -6.15% -10.47%
Other Assets $600.0K $621.0K $604.0K
YoY Change 7.14% 2.81% -88.6%
Total Long-Term Assets $1.824B $1.841B $1.861B
YoY Change 0.04% -1.07% 22.69%
TOTAL ASSETS
Total Short-Term Assets $115.0M $105.7M $124.5M
Total Long-Term Assets $1.824B $1.841B $1.861B
Total Assets $1.939B $1.947B $1.985B
YoY Change -1.87% -1.95% 18.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $400.0K $900.0K $400.0K
YoY Change -73.33% 125.0% -63.64%
Accrued Expenses $22.30M $26.90M $14.60M
YoY Change 33.53% 84.25% 1.39%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $80.98M $80.98M $58.86M
YoY Change 36.85% 37.59% 12.75%
Total Short-Term Liabilities $122.5M $125.4M $82.76M
YoY Change 40.15% 51.51% 10.65%
LONG-TERM LIABILITIES
Long-Term Debt $1.033B $1.045B $1.089B
YoY Change -5.1% -4.0% 28.61%
Other Long-Term Liabilities $9.712M $9.609M $135.0M
YoY Change -93.14% -92.88% 16.08%
Total Long-Term Liabilities $1.043B $1.055B $1.089B
YoY Change -4.21% -3.12% 13.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $122.5M $125.4M $82.76M
Total Long-Term Liabilities $1.043B $1.055B $1.089B
Total Liabilities $1.165B $1.180B $1.172B
YoY Change -0.91% 0.74% 12.56%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $618.5M $615.3M $677.4M
YoY Change
Total Liabilities & Shareholders Equity $1.939B $1.947B $1.985B
YoY Change -1.87% -1.95% 18.75%

Cashflow Statement

Concept 2014 Q2 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income $31.41M $32.61M $47.91M
YoY Change -23.52% -31.94% -6.63%
Depreciation, Depletion And Amortization $16.35M $14.65M $14.76M
YoY Change -6.09% -0.78% 18.96%
Cash From Operating Activities $61.00M $38.60M $43.91M
YoY Change -23.46% -12.1% -11.26%
INVESTING ACTIVITIES
Capital Expenditures -$7.200M -$1.800M $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $3.900M $300.0K -$292.4M
YoY Change -64.22% -100.1% 395.59%
Cash From Investing Activities -$3.300M -$1.500M -$292.4M
YoY Change -130.28% -99.49% 130.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $41.17M $36.62M
YoY Change 12.41% 141.08%
Cash From Financing Activities -42.50M -74.80M 175.2M
YoY Change -31.01% -142.7% -678.77%
NET CHANGE
Cash From Operating Activities 61.00M 38.60M 43.91M
Cash From Investing Activities -3.300M -1.500M -292.4M
Cash From Financing Activities -42.50M -74.80M 175.2M
Net Change In Cash 15.20M -37.70M -73.27M
YoY Change -47.59% -48.55% -31.85%
FREE CASH FLOW
Cash From Operating Activities $61.00M $38.60M $43.91M
Capital Expenditures -$7.200M -$1.800M $0.00
Free Cash Flow $68.20M $40.40M $43.91M
YoY Change -14.43% -8.0% -62.53%

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<div> <p style="MARGIN-TOP: 6pt; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> <b><i>Reclassification</i></b></p> <p style="MARGIN-TOP: 6pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> Certain reclassifications have been made to the Consolidated Statements of Comprehensive Income. Amounts relating to prior year&#x2019;s coal royalties, processing fees, transportation fees, minimums recognized as revenue, override royalties and other have been reclassified into a single line item &#x201C;Coal related revenues&#x201D; on this year&#x2019;s Consolidated Statements of Comprehensive Income. Amounts relating to prior year&#x2019;s aggregate royalties, processing fees, minimums recognized as revenue, override royalties and other have been reclassified into a single line item &#x201C;Aggregate related revenues&#x201D; on this year&#x2019;s Consolidated Statements of Comprehensive Income. 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FONT-SIZE: 8pt"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="10" align="center"><b>Three Months Ended</b><br /> <b>March&#xA0;31, 2013</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 8pt"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center"><b>As</b><br /> <b>Reported</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="6" align="center"><b>As Reclassified</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 8pt"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center"><b>Total</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center"><b>Coal</b><br /> <b>Related</b><br /> <b>Revenues</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center"><b>Aggregate<br /> Related</b><br /> <b>Revenues</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-FAMILY: 'Times New Roman'; 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Depreciation
1267000
CY2014Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
600000
CY2014Q1 us-gaap Proceeds From Partnership Contribution
ProceedsFromPartnershipContribution
92000
CY2014Q1 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
4373000
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
27870000
CY2014Q1 us-gaap Partners Capital Account Distributions
PartnersCapitalAccountDistributions
40192000
CY2014Q1 nrp Minimum Percentage Of Revenue Derived From Major Two Lessees
MinimumPercentageOfRevenueDerivedFromMajorTwoLessees
0.36 pure
CY2014Q1 nrp Partners Capital Account Equity Transactions Related Cost
PartnersCapitalAccountEquityTransactionsRelatedCost
169000
CY2014Q1 nrp Depletion And Amortization Expense On Coal And Other Mineral Rights
DepletionAndAmortizationExpenseOnCoalAndOtherMineralRights
12532000
CY2014Q1 nrp Number Of Coal Producing Regions
NumberOfCoalProducingRegions
3 Coal_Reserves
CY2014Q1 nrp Royalty Revenue From Oil And Gas
RoyaltyRevenueFromOilAndGas
10058000
CY2014Q1 nrp Market Value Of Common Units Under Incentive Plan
MarketValueOfCommonUnitsUnderIncentivePlan
Average closing price over the last 20 trading days prior to the vesting date.
CY2014Q1 nrp Aggregate Revenues
AggregateRevenues
3396000

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