FORUM ENERGY TECHNOLOGIES, INC. FET Income Statement

Forum energy technologies, inc. (FET)

Income statement / Quarterly

Mar'20	Dec'19	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
Revenue
182,632	199,777	239,266	245,648	271,842	272,948	267,037	274,003	250,231	247,700	198,709	201,115	171,096	147,203	138,268	142,723	159,441	196,148	244,993	284,415	348,096	438,678	468,822	428,279	403,938	393,733	390,192	367,887	372,999	330,165	347,767	373,512	363,489	336,719	330,906	257,454	203,052
Cost of sales
160,542	150,845	176,632	182,460	201,744	231,073	192,496	201,334	182,944	194,705	151,150	151,860	132,117	116,590	108,984	137,442	124,884	193,242	179,231	199,532	238,970	297,195	316,784	290,286	276,000	272,968	265,021	253,404	258,193	232,847	231,273	250,710	237,046	222,838	218,315	180,262	144,255
Gross profit
22,090	48,932	62,634	63,188	70,098	41,875	74,541	72,669	67,287	52,995	47,559	49,255	38,979	30,613	29,284	5,281	34,557	2,906	65,762	84,883	109,126	141,483	152,038	137,993	127,938	120,765	125,171	114,483	114,806	97,318	116,494	122,802	126,443	113,881	112,591	77,192	58,797
Operating expenses
Selling, general and administrative expenses
60,161	56,416	63,471	62,881	68,968	71,611	71,790	71,488	72,091	67,953	63,191	61,895	60,674	55,370	53,362	58,263	60,013	67,886	57,235	66,225	73,560	82,734	81,316	77,731	71,040	66,972	71,594	65,654	65,449	58,388	55,821	56,205	54,854	57,148	50,746	42,687	36,193
Impairments of goodwill, intangible assets, property and equipment
17,320	0	532,336	0	0	-	0	14,477	-	-	638	68,004	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	1,161	-	-	0	0	-
Transaction expenses
37	187	254	125	593	1,282	769	59	1,336	4,756	882	245	628	294	341	64	166	47	193	23	217	0	1,516	682	128	509	376	1,806	9	869	85	442	355	174	818	2,341	275
Contingent consideration benefit
0	0	0	0	-4,629	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-7,768	-700	4,900	-1,000	18,100	-200	-5,800	0
Goodwill impairment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss (gain) on disposal of assets and other
21	-149	107	-16	-20	-1,057	-205	1,303	397	-580	-128	-1,635	246	-405	-2,217	-48	32	-1,010	-11	-37	312	-1,111	85	284	-689	-385	-209	115	-135	-104	1,616	-56	-21	114	100	117	303
Total operating expenses
77,497	56,752	595,954	63,022	64,952	422,995	72,764	84,721	73,030	73,709	64,839	131,779	61,056	56,069	55,920	58,375	60,147	194,035	57,439	66,285	73,465	83,845	82,747	78,129	71,857	67,866	72,179	67,345	65,593	59,393	53,590	52,964	56,230	63,308	51,664	50,711	36,165
Loss from equity investment
0	0	-39	570	-849	94	659	350	-963	-6,391	3,361	2,568	1,462	617	414	216	577	2,543	3,870	3,840	4,571	7,167	6,749	5,940	5,308	4,366	2,946	0	0	-	0	-	-	-	-	-	-
Operating income (loss)
-55,407	-7,820	-533,359	736	4,297	-381,026	2,436	-11,702	-6,706	-27,105	-13,919	-79,956	-20,615	-24,839	-26,222	-52,878	-25,013	-188,586	12,193	22,438	40,232	64,805	76,040	65,804	61,389	57,265	55,938	47,138	49,213	37,925	62,904	69,838	70,213	50,573	60,927	26,481	22,632
Other expense (income)
Interest expense
-6,724	-7,448	-7,766	-8,223	-8,181	-8,661	-7,923	-7,861	-8,087	-20,637	-6,366	-6,385	6,580	-48,074	6,746	6,785	7,133	7,258	7,453	7,607	7,627	6,673	7,699	7,725	7,750	7,523	4,373	3,111	3,363	3,371	3,592	3,623	5,786	5,809	6,034	4,449	3,240
Foreign exchange and other losses (gains), net
5,007	-8,091	3,200	2,146	-2,277	2,636	1,325	5,860	-3,551	-760	-2,360	-2,602	-1,546	6,795	3,152	10,014	1,380	3,834	2,910	-4,055	6,656	3,715	5,222	-3,129	-1,477	-1,090	-2,311	-1,019	1,467	-583	-764	-335	-31	883	-510	-687	-64
Gain on extinguishment of debt
7,500	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred loan costs written off
-1,829	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Sale of Equity Investments
-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on contribution of subsea rentals business
-	-	0	0	-	0	0	0	33,506	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred loan costs written off
-	-	-	-	-	-	-	-	-	-	-	-	-	390	0	0	2,588	0	0	0	0	-	-	-	-	-	2,149	-	-	-	0	-	-	-	-	-	-
Total other expense (income), net
3,913	-13,191	-2,999	-6,077	-10,458	-6,025	-6,598	-2,001	21,868	112,155	-8,726	-8,987	-8,126	-341	-3,594	3,229	-8,341	-3,424	-4,543	-11,662	-971	-2,958	-2,477	-10,854	-9,227	-8,613	-8,833	-4,130	-1,896	-3,954	-4,356	-3,958	-5,817	-4,926	-6,544	-5,136	-3,304
Loss before income taxes
-51,494	-21,011	-536,358	-5,341	-6,161	-387,051	-4,162	-13,703	15,162	85,050	-22,645	-88,943	-28,741	-25,180	-29,816	-49,649	-33,354	-192,010	7,650	10,776	39,261	61,847	73,563	54,950	52,162	48,652	47,105	43,008	47,317	33,971	58,548	65,880	64,396	45,647	54,383	21,345	19,328
Income tax expense (benefit)
-14,350	-8,563	-3,371	8,393	1,727	-3,308	-1,108	1,646	-12,904	35,981	-7,817	-11,070	-12,973	-12,677	-11,821	-21,147	-10,406	-28,387	932	1,911	10,605	15,750	21,332	15,407	15,656	14,107	13,924	13,068	15,379	10,033	17,605	21,742	21,885	13,934	18,793	7,453	6,930
Net loss
-37,144	-12,448	-532,987	-13,734	-7,888	-383,743	-3,054	-15,349	28,066	49,069	-14,828	-77,873	-15,768	-12,503	-17,995	-28,502	-22,948	-163,623	6,718	8,865	28,656	46,097	52,231	39,543	36,506	34,545	33,181	29,940	31,938	23,938	40,943	44,138	42,511	-	35,590	13,892	-
Less: Income attributable to noncontrolling interest
-	-	-	-	-	-	-	-	-	-	-	-	-	6	-6	35	-5	-4	-2	-9	-16	10	5	21	-24	6	40	21	-2	8	20	17	29	-16	80	158	29
Net loss attributable to common stockholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-12,509	-17,989	-28,537	-22,943	-163,619	6,720	8,874	28,672	46,087	52,226	39,522	36,530	34,539	33,141	29,919	31,940	23,930	40,923	44,121	42,482	31,700	35,510	13,734	12,398
Weighted average shares outstanding
Net income attributable to common stockholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,369
Basic (in shares)
111,173	110,464	110,295	109,987	109,643	109,082	108,856	108,714	108,423	106,451	96,275	96,170	95,860	92,860	90,860	90,707	90,477	90,325	90,058	89,767	89,482	92,403	93,331	92,649	92,129	91,780	91,443	91,032	88,533	84,996	84,993	82,495	67,960	67,632	67,655	59,471	58,322
Diluted (in shares)
111,173	110,464	110,295	109,987	109,643	109,082	108,856	108,714	110,857	106,451	96,275	96,170	95,860	92,860	90,860	90,707	90,477	84,592	91,687	91,884	91,469	94,148	96,198	95,695	95,191	94,720	94,734	94,606	94,356	90,874	92,339	89,794	74,741	72,410	73,635	62,660	61,247
Loss per share
Basic (in USD per share)
-0.33	-0.11	-4.83	-0.12	-0.07	-3.52	-0.03	-0.14	0.26	0.52	-0.15	-0.81	-0.16	-0.14	-0.20	-0.31	-0.25	-1.82	0.07	0.10	0.32	0.49	0.56	0.43	0.40	0.38	0.36	0.33	0.36	0.25	0.48	0.53	0.63	0.52	0.52	0.23	0.21
Diluted (in USD per share)
-0.33	-0.11	-4.83	-0.12	-0.07	-3.52	-0.03	-0.14	0.25	0.52	-0.15	-0.81	-0.16	-0.14	-0.20	-0.31	-0.25	-1.81	0.07	0.10	0.31	0.50	0.54	0.41	0.38	0.36	0.35	0.32	0.34	0.24	0.44	0.49	0.57	0.48	0.48	0.22	0.20
Other comprehensive income (loss), net of tax:
Net loss
-37,144	-12,448	-532,987	-13,734	-7,888	-383,743	-3,054	-15,349	28,066	49,069	-14,828	-77,873	-15,768	-12,503	-17,995	-28,502	-22,948	-163,623	6,718	8,865	28,656	46,097	52,231	39,543	36,506	34,545	33,181	29,940	31,938	23,938	40,943	44,138	42,511	-	35,590	13,892	-
Change in foreign currency translation, net of tax of $0
-8,846	10,791	-6,260	-1,407	4,834	-10,868	-1,536	-18,635	6,287	2,069	11,547	15,325	7,222	-20,104	-6,243	-22,847	3,472	-14,717	-18,747	25,491	-37,297	-21,940	-34,474	11,690	1,030	8,314	24,114	-2,154	-22,749	1,679	10,441	-6,740	10,507	325	-13,192	1,454	6,319
Gain (loss) on pension liability
21	-1,645	-17	5	-9	1,411	7	55	16	240	-36	-82	-15	-302	-14	24	-43	-22	-2	-29	99	-1,112	0	0	2	223	0	0	0	-	-	-	-	-	-	-	-
Net income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-17,989	-28,537	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	35,510	13,705	12,398
Gain on derivative instruments, net of tax of $768
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	202	407	491	326
Comprehensive loss
-45,969	-3,302	-539,264	-15,136	-3,063	-393,200	-4,583	-33,929	34,369	51,378	-3,317	-62,630	-8,561	-32,909	-24,252	-51,325	-19,519	-178,362	-12,031	34,327	-8,542	23,045	17,757	51,233	37,538	43,082	57,295	27,786	9,189	25,617	51,384	37,398	53,018	32,240	22,805	15,837	19,043
Less: comprehensive loss attributable to noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	6	27	36	93	-50	-64	-11	-43	-66	32	15	-27	-22	32	-20	-62	-3	11	-28	64	-16	-45	126	20
Comprehensive loss attributable to common stockholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-32,915	-24,279	-51,361	-19,612	-178,312	-11,967	34,338	-8,499	23,111	17,725	51,218	37,565	43,104	57,263	27,806	9,251	25,620	51,373	37,426	52,954	32,256	22,850	15,711	19,023