$RSRV
RESERVE PETROLEUM CO

2017 Q1 Form 10-Q Financial Statement

#000143774917008537 Filed on May 10, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $1.581M $1.047M
YoY Change 51.04% -61.05%
Cost Of Revenue $526.7K $530.0K
YoY Change -0.62% -23.19%
Gross Profit $1.055M $520.0K
YoY Change 102.84% -74.0%
Gross Profit Margin 66.7% 49.66%
Selling, General & Admin $390.0K $430.0K
YoY Change -9.3% -2.27%
% of Gross Profit 36.97% 82.69%
Research & Development $150.0K $100.0K
YoY Change 50.0% -33.33%
% of Gross Profit 14.22% 19.23%
Depreciation & Amortization $450.0K $500.0K
YoY Change -10.0% -50.5%
% of Gross Profit 42.66% 96.15%
Operating Expenses $1.509M $2.069M
YoY Change -27.04% -27.51%
Operating Profit $72.24K -$1.022M
YoY Change -107.07% 517.05%
Interest Expense $60.00K $50.00K
YoY Change 20.0%
% of Operating Profit 83.05%
Other Income/Expense, Net $11.79K $11.85K
YoY Change -0.52% -1.26%
Pretax Income $597.6K -$954.9K
YoY Change -162.58% 486.45%
Income Tax $70.08K -$334.1K
% Of Pretax Income 11.73%
Net Earnings $527.5K -$620.9K
YoY Change -184.96% -3652.62%
Net Earnings / Revenue 33.35% -59.29%
Basic Earnings Per Share
Diluted Earnings Per Share $3.313M -$3.875M
COMMON SHARES
Basic Shares Outstanding 158.2K
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.21M $22.06M
YoY Change 0.69% -7.5%
Cash & Equivalents $8.769M $13.42M
Short-Term Investments $13.44M $8.642M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $704.6K $470.5K
Other Receivables $470.0K $520.0K
Total Short-Term Assets $23.90M $23.44M
YoY Change 1.96% -7.71%
LONG-TERM ASSETS
Property, Plant & Equipment $10.95M $11.83M
YoY Change -7.41% -28.92%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.720M $1.860M
YoY Change 46.24% 78.85%
Other Assets
YoY Change
Total Long-Term Assets $13.67M $13.69M
YoY Change -0.12% -22.59%
TOTAL ASSETS
Total Short-Term Assets $23.90M $23.44M
Total Long-Term Assets $13.67M $13.69M
Total Assets $37.57M $37.13M
YoY Change 1.19% -13.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $253.9K $224.9K
YoY Change 12.89% 7.08%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $291.4K $254.2K
YoY Change 14.65% -27.37%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.990M $2.970M
YoY Change 0.67% -4.19%
Total Long-Term Liabilities $4.499M $4.315M
YoY Change 4.28% 39.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $291.4K $254.2K
Total Long-Term Liabilities $4.499M $4.315M
Total Liabilities $4.791M $4.569M
YoY Change 4.86% -27.71%
SHAREHOLDERS EQUITY
Retained Earnings $34.13M $33.85M
YoY Change 0.81%
Common Stock $157.4K $157.4K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.507M $1.454M
YoY Change 3.63%
Treasury Stock Shares
Shareholders Equity $32.78M $32.56M
YoY Change
Total Liabilities & Shareholders Equity $37.57M $37.13M
YoY Change 1.19% -13.82%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $527.5K -$620.9K
YoY Change -184.96% -3652.62%
Depreciation, Depletion And Amortization $450.0K $500.0K
YoY Change -10.0% -50.5%
Cash From Operating Activities $1.118M $349.1K
YoY Change 220.17% -85.99%
INVESTING ACTIVITIES
Capital Expenditures -$440.0K -$700.0K
YoY Change -37.14% -23.08%
Acquisitions
YoY Change
Other Investing Activities $40.00K $10.00K
YoY Change 300.0%
Cash From Investing Activities -$402.5K -$690.0K
YoY Change -41.67% -24.7%
FINANCING ACTIVITIES
Cash Dividend Paid $7.322K $131.5K
YoY Change -94.43% 632.54%
Common Stock Issuance & Retirement, Net $10.26K $46.34K
YoY Change -77.85% 815.81%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -17.58K -177.9K
YoY Change -90.11% 672.84%
NET CHANGE
Cash From Operating Activities 1.118M 349.1K
Cash From Investing Activities -402.5K -690.0K
Cash From Financing Activities -17.58K -177.9K
Net Change In Cash 697.6K -518.7K
YoY Change -234.48% -133.4%
FREE CASH FLOW
Cash From Operating Activities $1.118M $349.1K
Capital Expenditures -$440.0K -$700.0K
Free Cash Flow $1.558M $1.049M
YoY Change 48.48% -69.17%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2017Q1 rsrv Change In Present Value Percent
ChangeInPresentValuePercent
0.0325
CY2017Q1 rsrv Current Year Inflation Rate
CurrentYearInflationRate
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CY2017Q1 rsrv Equity Investment
EquityInvestment
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CY2016Q4 rsrv Equity Investment
EquityInvestment
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CY2017Q1 rsrv Gain Loss On Trading Securities
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CY2016Q1 rsrv Gain Loss On Trading Securities
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CY2017Q1 rsrv Lease Bonuses And Other
LeaseBonusesAndOther
CY2016Q1 rsrv Lease Bonuses And Other
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CY2017Q1 us-gaap Basis Of Accounting
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: left; MARGIN: 0pt 1.8pt 0pt 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> &#x2013; BASIS OF PRESENTATION</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 1.8pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 1.8pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The accompanying balance sheet as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December</div>&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> which has been derived from audited financial statements, the unaudited interim financial statements and these notes have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, certain disclosures normally included in financial statements prepared in accordance with the accounting principles generally accepted in the United States of America (&#x201c;GAAP&#x201d;) have been omitted. The accompanying financial statements and notes thereto should be read in conjunction with the financial statements and notes thereto included in the Company&#x2019;s Annual Report on Form <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div>-K for the year ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December</div>&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> as filed with the Securities and Exchange Commission (hereinafter, the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x201c;2016</div> Form <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div>-K&#x201d;).</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 1.8pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 1.8pt 0pt 27pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">In the opinion of Management, the accompanying financial statements reflect all adjustments (consisting only of normal recurring accruals), which are necessary for a fair statement of the results of the interim periods presented. The results of operations for the current interim periods are not necessarily indicative of the operating results for the full year.</div></div></div>
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Liabilities
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CY2016Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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158323

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