2017 Q1 Form 10-Q Financial Statement

#000168024717000008 Filed on May 12, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $171.9M $87.90M
YoY Change 95.6%
Cost Of Revenue $149.6M $80.30M
YoY Change 86.3%
Gross Profit $22.37M $7.641M
YoY Change 192.71%
Gross Profit Margin 13.01% 8.69%
Selling, General & Admin $19.90M $5.800M
YoY Change 243.1%
% of Gross Profit 88.97% 75.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.15M $11.09M
YoY Change 0.6%
% of Gross Profit 49.86% 145.07%
Operating Expenses $31.00M $16.80M
YoY Change 84.52%
Operating Profit -$24.35M -$12.94M
YoY Change 88.18%
Interest Expense $5.175M $5.415M
YoY Change -4.43%
% of Operating Profit
Other Income/Expense, Net -$5.149M -$5.713M
YoY Change -9.87%
Pretax Income -$24.24M -$19.73M
YoY Change 22.82%
Income Tax $116.0K -$6.792M
% Of Pretax Income
Net Earnings -$24.35M -$12.94M
YoY Change 88.18%
Net Earnings / Revenue -14.16% -14.72%
Basic Earnings Per Share -$0.43 -$0.37
Diluted Earnings Per Share -$0.43 -$0.37
COMMON SHARES
Basic Shares Outstanding 56.00M shares 34.99M shares
Diluted Shares Outstanding 56.00M shares 34.99M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $85.60M
YoY Change
Cash & Equivalents $85.63M $31.12M
Short-Term Investments
Other Short-Term Assets $4.418M
YoY Change
Inventory $5.154M
Prepaid Expenses $3.938M
Receivables $109.9M
Other Receivables $0.00
Total Short-Term Assets $209.0M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $298.4M
YoY Change
Goodwill $9.425M $10.60M
YoY Change -11.1%
Intangibles $517.0K
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.877M
YoY Change
Total Long-Term Assets $312.2M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $209.0M
Total Long-Term Assets $312.2M
Total Assets $521.2M $379.1M
YoY Change 37.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $118.3M
YoY Change
Accrued Expenses $9.681M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $6.087M
YoY Change
Total Short-Term Liabilities $134.0M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $11.69M
YoY Change
Other Long-Term Liabilities $120.0K
YoY Change
Total Long-Term Liabilities $11.81M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $134.0M
Total Long-Term Liabilities $11.81M
Total Liabilities $147.0M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$231.3M
YoY Change
Common Stock $605.4M
YoY Change
Preferred Stock $0.00
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $374.2M
YoY Change
Total Liabilities & Shareholders Equity $521.2M
YoY Change

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income -$24.35M -$12.94M
YoY Change 88.18%
Depreciation, Depletion And Amortization $11.15M $11.09M
YoY Change 0.6%
Cash From Operating Activities -$3.394M $14.24M
YoY Change -123.83%
INVESTING ACTIVITIES
Capital Expenditures $86.80M $12.22M
YoY Change 610.49%
Acquisitions
YoY Change
Other Investing Activities $500.0K $0.00
YoY Change
Cash From Investing Activities -$50.46M -$12.19M
YoY Change 314.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $71.80M $4.019M
YoY Change 1686.51%
Cash From Financing Activities $5.881M -$5.246M
YoY Change -212.1%
NET CHANGE
Cash From Operating Activities -$3.394M $14.24M
Cash From Investing Activities -$50.46M -$12.19M
Cash From Financing Activities $5.881M -$5.246M
Net Change In Cash -$47.97M -$3.190M
YoY Change 1403.79%
FREE CASH FLOW
Cash From Operating Activities -$3.394M $14.24M
Capital Expenditures $86.80M $12.22M
Free Cash Flow -$90.19M $2.027M
YoY Change -4549.63%

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OtherNonoperatingIncomeExpense
26000 USD
CY2016Q2 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
525000 USD
CY2016Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2017Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1615000 USD
CY2016Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
CY2017Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
15099000 USD
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12217000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
50910000 USD
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PreferredStockParOrStatedValuePerShare
0.001
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PreferredStockParOrStatedValuePerShare
0.001
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
43500000 shares
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
43500000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
16999990 shares
CY2017Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
16999990 shares
CY2017Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
17000 USD
CY2017Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
4608000 USD
CY2017Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
3938000 USD
CY2016Q2 us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
40425000 USD
CY2016Q1 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 USD
CY2017Q1 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
185500000 USD
CY2016Q4 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
170000000 USD
CY2014Q4 us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
25000000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
29000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
452000 USD
CY2016Q1 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
6494000 USD
CY2017Q1 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
56461000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
263862000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
298382000 USD
CY2017Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
71800000 USD
CY2016Q1 us-gaap Repayments Of Long Term Debt
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4019000 USD
CY2017Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
161669000 USD
CY2016Q1 us-gaap Repayments Of Longterm Loans From Vendors
RepaymentsOfLongtermLoansFromVendors
1227000 USD
CY2017Q1 us-gaap Repayments Of Longterm Loans From Vendors
RepaymentsOfLongtermLoansFromVendors
1236000 USD
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CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
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CY2016Q1 us-gaap Revenue Oil And Gas Services
RevenueOilAndGasServices
87930000 USD
CY2017Q1 us-gaap Revenue Oil And Gas Services
RevenueOilAndGasServices
171931000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
206000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
7369000 USD
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2354466 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3147911 shares
CY2017Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
14.00
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
1.77
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
3.77
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
3.27
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
0 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
0 shares
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
114456 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0 shares
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1274549 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
793738 shares
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.77
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.35
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3485791 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4645884 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4641501 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.96
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.49
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.21
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
226194 shares
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.00
CY2017Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.96
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0.00
CY2017Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0.00
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.96
CY2017Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0.00
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.25
CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
0.00
CY2016Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
18007328 shares
CY2017Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
162212 shares
CY2016 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2017Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
226194 shares
CY2017Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
0 USD
CY2017Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
170141000 USD
CY2017Q1 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
7369000 USD
CY2017Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
0 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
221009000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
374168000 USD
CY2017Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
1.45
CY2016Q1 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
-252000 USD
CY2017Q1 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
138000 USD
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34993000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55996000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34993000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55996000 shares

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