$RSRV
RESERVE PETROLEUM CO

2019 Q1 Form 10-Q Financial Statement

#000143774919009891 Filed on May 15, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $1.600M $1.725M
YoY Change -7.24% 9.08%
Cost Of Revenue $558.7K $606.8K
YoY Change -7.92% 15.2%
Gross Profit $1.042M $1.118M
YoY Change -6.87% 6.03%
Gross Profit Margin 65.09% 64.83%
Selling, General & Admin $452.9K $450.0K
YoY Change 0.64% 15.38%
% of Gross Profit 43.48% 40.24%
Research & Development $3.220K $80.00K
YoY Change -95.98% -46.67%
% of Gross Profit 0.31% 7.15%
Depreciation & Amortization $234.8K $330.0K
YoY Change -28.84% -26.67%
% of Gross Profit 22.55% 29.51%
Operating Expenses $1.250M $1.461M
YoY Change -14.48% -3.18%
Operating Profit $350.6K $263.9K
YoY Change 32.88% 265.25%
Interest Expense $139.3K $70.00K
YoY Change 98.93% 16.67%
% of Operating Profit 39.72% 26.53%
Other Income/Expense, Net $11.54K $11.93K
YoY Change -3.24% 1.14%
Pretax Income $491.2K $354.3K
YoY Change 38.65% -40.72%
Income Tax $158.8K $83.67K
% Of Pretax Income 32.34% 23.62%
Net Earnings $332.3K $270.6K
YoY Change 22.82% -48.7%
Net Earnings / Revenue 20.77% 15.69%
Basic Earnings Per Share
Diluted Earnings Per Share $2.115M $1.688M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.73M $21.05M
YoY Change 7.95% -5.22%
Cash & Equivalents $3.026M $4.683M
Short-Term Investments $19.70M $16.37M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $904.7K $843.1K
Other Receivables $218.1K $570.0K
Total Short-Term Assets $24.39M $23.05M
YoY Change 5.81% -3.53%
LONG-TERM ASSETS
Property, Plant & Equipment $11.37M $11.12M
YoY Change 2.31% 1.51%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $811.4K $992.6K
YoY Change -18.25% -63.51%
Other Assets
YoY Change
Total Long-Term Assets $13.87M $13.79M
YoY Change 0.61% 0.88%
TOTAL ASSETS
Total Short-Term Assets $24.39M $23.05M
Total Long-Term Assets $13.87M $13.79M
Total Assets $38.27M $36.85M
YoY Change 3.86% -1.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $168.0K $389.2K
YoY Change -56.83% 53.32%
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 $238.5K $427.0K
YoY Change -44.14% 46.5%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.828M $2.970M
YoY Change -4.8% -0.67%
Total Long-Term Liabilities $4.160M $4.039M
YoY Change 3.01% -10.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $238.5K $427.0K
Total Long-Term Liabilities $4.160M $4.039M
Total Liabilities $4.399M $4.466M
YoY Change -1.5% -6.79%
SHAREHOLDERS EQUITY
Retained Earnings $35.36M $33.77M
YoY Change 4.7% -1.06%
Common Stock $157.4K $157.4K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.643M $1.546M
YoY Change 6.3% 2.56%
Treasury Stock Shares
Shareholders Equity $33.87M $32.38M
YoY Change
Total Liabilities & Shareholders Equity $38.27M $36.85M
YoY Change 3.86% -1.93%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $332.3K $270.6K
YoY Change 22.82% -48.7%
Depreciation, Depletion And Amortization $234.8K $330.0K
YoY Change -28.84% -26.67%
Cash From Operating Activities $692.5K $845.6K
YoY Change -18.11% -24.34%
INVESTING ACTIVITIES
Capital Expenditures -$570.3K -$820.0K
YoY Change -30.46% 86.36%
Acquisitions
YoY Change
Other Investing Activities -$3.455M -$50.00K
YoY Change 6810.16% -225.0%
Cash From Investing Activities -$4.025M -$867.3K
YoY Change 364.11% 115.49%
FINANCING ACTIVITIES
Cash Dividend Paid $24.44K $50.22K
YoY Change -51.34% 585.91%
Common Stock Issuance & Retirement, Net $45.59K $12.95K
YoY Change 251.95% 26.23%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -70.03K -63.18K
YoY Change 10.85% 259.28%
NET CHANGE
Cash From Operating Activities 692.5K 845.6K
Cash From Investing Activities -4.025M -867.3K
Cash From Financing Activities -70.03K -63.18K
Net Change In Cash -3.403M -84.85K
YoY Change 3910.37% -112.16%
FREE CASH FLOW
Cash From Operating Activities $692.5K $845.6K
Capital Expenditures -$570.3K -$820.0K
Free Cash Flow $1.263M $1.666M
YoY Change -24.19% 6.93%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2019Q1 rsrv Change In Present Value Percent
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CY2019Q1 rsrv Current Year Inflation Rate
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CY2019Q1 us-gaap Basis Of Accounting
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:1.8pt;margin-top:0pt;text-align:left;">Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> &#x2013; BASIS OF PRESENTATION</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:27pt;margin-right:1.8pt;margin-top:0pt;text-align:justify;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:27pt;margin-right:1.8pt;margin-top:0pt;text-align:justify;">The accompanying balance sheet as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><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;">2018,</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&nbsp;</div><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;">2018</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;2018</div> Form <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div>-K&#x201d;).</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:27pt;margin-right:1.8pt;margin-top:0pt;text-align:justify;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:27pt;margin-right:1.8pt;margin-top:0pt;text-align:justify;">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 <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> necessarily indicative of the operating results for the full year.</div></div>
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157114
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
157623

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