APPROACH RESOURCES INC AREX Income Statement

Approach resources inc (AREX)

Income statement / Quarterly

Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
REVENUES:
Revenues
15,416	14,720	19,243	22,375	32,562	30,326	28,772	-	25,608	24,969	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Oil, NGLs and gas sales
-	-	-	-	-	-	-	-	-	-	26,355	-	23,749	22,433	17,615	25,492	33,941	38,605	33,298	55,070	68,124	73,408	61,927	58,565	44,196	42,272	36,269	35,309	33,038	29,927	30,618	31,123	27,958	29,123	20,183	14,916	13,155
EXPENSES:
Lease operating
3,958	4,178	4,871	5,013	5,816	5,032	5,268	-	4,418	4,238	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Lease operating
-	-	-	-	-	-	-	-	-	-	4,170	-	3,894	5,234	6,356	7,228	7,681	6,917	7,146	9,239	7,665	7,946	7,851	5,406	4,370	3,993	5,383	-	-	-	-	-	-	-	-	-	-
Production and ad valorem taxes
1,712	1,539	1,935	1,734	2,120	2,569	2,500	2,219	1,816	2,252	2,357	2,685	2,013	1,855	1,664	2,583	2,700	2,974	2,828	3,505	3,335	4,925	4,169	-	3,167	3,068	-	-	-	-	-	-	-	-	-	-	-
Lease operating
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,468	4,238	3,580	867	3,564	3,609	2,647	1,995	2,203
Production and ad valorem taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,556	-	2,341	2,248	2,218	-	-	-	-	-	-
Exploration
7	1,439	9	-	6	3	-	406	100	2,108	1,043	685	1,047	1,622	569	228	1,956	1,165	1,090	236	891	1,966	738	228	1,193	557	260	-	-	-	-	-	-	-	-	-	-
Severance and production taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,419	1,701	1,103	743	610
Exploration
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,170	-38	1,287	-	1,969	280	4,628	568	187
General and administrative
4,740	4,315	3,762	2,693	5,576	6,086	6,567	5,491	6,366	6,548	5,928	7,026	5,825	5,832	6,051	5,459	7,270	7,510	8,102	8,492	7,675	7,402	8,535	8,714	6,171	5,229	6,410	8,455	5,633	5,051	5,764	6,022	3,785	4,593	3,500	3,212	2,181
Restructuring expenses
8,533	142	6,282	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Termination costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,436	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of oil and gas properties
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	220,197	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depletion, depreciation and amortization
13,108	13,068	13,606	14,403	14,500	16,849	15,680	16,173	16,843	19,543	17,962	19,402	19,422	19,991	20,229	23,173	31,222	28,404	26,520	28,664	25,959	28,573	23,606	22,005	19,413	18,482	17,056	18,027	16,728	14,596	11,030	10,081	8,355	7,987	6,052	5,832	5,010
Impairment
0	0	300	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on sale of assets
-157	1	66	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total expenses
32,215	24,680	30,699	24,254	28,018	30,539	30,015	29,365	29,543	34,689	31,460	33,564	32,201	34,534	34,869	38,671	272,462	46,970	45,686	-	45,525	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	50,812	44,899	-	34,314	31,329	31,665	36,777	31,340	26,095	23,879	42,339	19,092	18,170	17,930	12,350	10,191
OPERATING (LOSS) INCOME
-16,799	-9,960	-11,456	-1,879	4,544	-213	-1,243	-948	-3,935	-9,720	-5,105	-7,059	-8,452	-12,101	-17,254	-13,179	-238,521	-8,365	-12,388	4,934	22,599	22,596	17,028	18,163	9,882	10,943	4,604	-1,468	1,698	3,832	6,739	-11,216	8,866	10,953	2,253	2,566	2,964
OTHER:
Interest expense, net
7,633	7,412	6,773	6,595	6,452	6,184	5,886	5,370	5,304	4,916	5,463	7,086	7,067	6,808	6,298	6,436	6,465	6,243	5,922	5,715	5,442	5,357	5,137	5,225	5,179	2,451	1,229	-	-	-	-	-	-	-	-	-	-
Gain on debt extinguishment
-	-	-	-	-	-	-	0	0	0	5,053	-	-	-	-	-	1,483	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Write-off of debt issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	563	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Commodity derivative gain (loss)
346	355	-2,846	9,747	-3,256	-4,884	-1,928	-1,377	-3,560	1,231	3,444	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity in losses of investee
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-186	-	-4	340	-64	-116	-	-	-	-	-	-	-	-	-	-
Interest expense, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,544	1,380	887	1,010	1,016	863	513	615	550
Realized (loss) gain on commodity derivatives
-	-	-	-	-	-	-	-	-	-	-	-	781	1,409	3,500	-	12,755	9,281	15,901	7,782	-764	-3,320	-1,339	199	-840	-714	307	-408	423	361	-484	-	-	-	-	-	-
Unrealized (loss) gain on commodity derivatives
-	-	-	-	-	-	-	-	-	-	-	-	760	-8,076	-957	-	296	-13,904	-9,321	36,907	18,810	-7,678	-5,926	-1,348	-3,438	4,290	-4,100	-	-	-	-	-	-	-	-	-	-
Other expense
-	-	-	1	-18	-13	1	0	29	0	3	0	-10	1,417	104	225	-91	12	26	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income (expense)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-109	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-
Realized gain on commodity derivatives
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,392	66	197	1,615	1,768
Unrealized (loss) gain on commodity derivatives
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,185	-9,439	2,672	4,168	-1,739	-2,231	149	312	1,901
Gain on sale of oil and gas properties, net of foreign currency transaction loss
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-243	0	3	488	-	-
LOSS BEFORE INCOME TAX BENEFIT
-24,086	-17,017	-21,075	1,274	-5,182	-11,294	-9,056	-7,695	-12,770	-13,405	-2,068	-17,046	-13,988	-24,722	-20,905	-6,043	-230,543	-19,219	-11,704	44,089	35,203	5,946	4,626	102,528	765	12,004	-534	-1,618	-3,608	12,252	2,696	-14,917	10,981	12,390	2,276	3,254	2,281
INCOME TAX BENEFIT
-4,903	-3,420	-4,279	-	-921	-2,222	-1,610	-	-4,258	-4,509	138,700	-	-4,915	-8,687	-7,245	-	-81,756	-7,369	-3,996	-	12,756	2,153	1,681	-	270	4,217	-187	-	-1,253	4,390	982	-	3,908	4,400	812	1,167	730
NET LOSS
-19,183	-13,597	-16,796	868	-4,261	-9,072	-7,446	45,817	-8,512	-8,896	-140,768	-13,475	-9,073	-16,035	-13,660	-5,759	-148,787	-11,850	-7,708	-	22,447	-	-	-	-	-	-	-	-	-	-	-	-	7,990	1,464	2,087	1,551
NET (LOSS) INCOME
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,793	2,945	-	495	7,787	-347	-837	-2,355	7,862	1,714	-	7,073	-	-	-	-
LOSS PER SHARE:
Basic
-0.20	-0.15	-0.18	0.02	-0.05	-0.10	-0.08	0.85	-0.10	-0.10	-2.00	-0.32	-0.22	-0.39	-0.33	-0.15	-3.67	-0.29	-0.19	0.68	0.57	0.10	0.08	1.65	0.01	0.20	-0.01	-0.03	-0.07	0.23	0.05	-0.33	0.25	0.28	0.05	0.10	0.07
Diluted
-0.20	-0.15	-0.18	0.02	-0.05	-0.10	-0.08	0.85	-0.10	-0.10	-2.00	-0.32	-0.22	-0.39	-0.33	-0.15	-3.67	-0.29	-0.19	0.67	0.57	0.10	0.08	1.65	0.01	0.20	-0.01	-0.03	-0.07	0.23	0.05	-0.33	0.25	0.28	0.05	0.10	0.07
WEIGHTED AVERAGE SHARES OUTSTANDING:
Basic
93,666	93,693	94,757	94,851	94,486	94,470	94,516	90,365	86,501	86,340	70,409	41,709	41,610	41,564	41,069	40,603	40,541	40,554	40,157	39,655	39,363	39,368	39,243	39,048	39,011	39,007	38,924	38,896	34,190	33,524	33,249	30,530	28,440	28,458	28,293	21,357	21,059
Diluted
93,666	93,693	94,757	94,851	94,486	94,470	94,516	90,365	86,501	86,340	70,409	41,709	41,610	41,564	41,069	40,603	40,541	40,554	40,157	39,655	39,379	39,384	39,259	39,090	39,032	39,029	38,924	38,943	34,190	33,550	33,437	30,751	28,652	28,687	28,542	21,484	21,184
Includes non-cash share-based compensation expense as follows:
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,550	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-