China North East Petroleum Holdings (NEP) quarterly income statement covering the four quarters from June 2010 to September 2011, as reported to the SEC.
An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.
| Sep'11 | Jun'11 | Sep'10 | Jun'10 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales of crude oil | |||||||||||||||||||
18,404 | 19,279 | 9,853 | 15,390 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Sales of crude oil | 18,404 | 19,279 | 9,853 | 15,390 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Drilling revenue | |||||||||||||||||||
5,384 | 5,007 | 10,132 | 12,316 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Drilling revenue | 5,384 | 5,007 | 10,132 | 12,316 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total Revenue | |||||||||||||||||||
23,788 | 24,286 | 19,986 | 27,707 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total Revenue | 23,788 | 24,286 | 19,986 | 27,707 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Crude oil extraction costs | |||||||||||||||||||
4,034 | 1,285 | 932 | 872 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Crude oil extraction costs | 4,034 | 1,285 | 932 | 872 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Drilling costs | |||||||||||||||||||
1,387 | 1,424 | 3,059 | 4,849 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Drilling costs | 1,387 | 1,424 | 3,059 | 4,849 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Depreciation, depletion and amortization of oil properties | |||||||||||||||||||
3,081 | 1,326 | 1,294 | 2,131 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Depreciation, depletion and amortization of oil properties | 3,081 | 1,326 | 1,294 | 2,131 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Depreciation of drilling equipment | |||||||||||||||||||
515 | 506 | 481 | 477 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Depreciation of drilling equipment | 515 | 506 | 481 | 477 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Amortization of land use rights | |||||||||||||||||||
8 | 8 | 7 | 4 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Amortization of land use rights | 8 | 8 | 7 | 4 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Government oil surcharge | |||||||||||||||||||
4,366 | 4,598 | 1,495 | 2,507 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Government oil surcharge | 4,366 | 4,598 | 1,495 | 2,507 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total Cost of Revenue | |||||||||||||||||||
13,394 | 9,150 | 7,270 | 10,844 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total Cost of Revenue | 13,394 | 9,150 | 7,270 | 10,844 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
GROSS PROFIT | |||||||||||||||||||
10,394 | 15,136 | 12,715 | 16,862 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
GROSS PROFIT | 10,394 | 15,136 | 12,715 | 16,862 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Selling, general and administrative expenses | |||||||||||||||||||
940 | 432 | 2,026 | 843 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Selling, general and administrative expenses | 940 | 432 | 2,026 | 843 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Professional fees | |||||||||||||||||||
685 | 336 | 160 | 117 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Professional fees | 685 | 336 | 160 | 117 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Depreciation of fixed assets | |||||||||||||||||||
102 | 82 | 94 | 96 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Depreciation of fixed assets | 102 | 82 | 94 | 96 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total Operating Expenses | |||||||||||||||||||
1,729 | 851 | 2,280 | 1,056 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total Operating Expenses | 1,729 | 851 | 2,280 | 1,056 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
INCOME FROM OPERATIONS | |||||||||||||||||||
8,665 | 14,284 | 10,434 | 15,805 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
INCOME FROM OPERATIONS | 8,665 | 14,284 | 10,434 | 15,805 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other income | |||||||||||||||||||
0 | 0 | 1 | 10 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other income | 0 | 0 | 1 | 10 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other expense | |||||||||||||||||||
8 | 1 | - | 38 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other expense | 8 | 1 | - | 38 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Interest expense | |||||||||||||||||||
- | - | 2 | 1 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Interest expense | - | - | 2 | 1 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Interest income | |||||||||||||||||||
69 | 59 | 30 | 23 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Interest income | 69 | 59 | 30 | 23 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Change in fair value of warrants | |||||||||||||||||||
2,755 | 3,821 | 81 | 14,598 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Change in fair value of warrants | 2,755 | 3,821 | 81 | 14,598 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total Other Income, net | |||||||||||||||||||
2,817 | 3,879 | 111 | 14,593 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total Other Income, net | 2,817 | 3,879 | 111 | 14,593 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
NET INCOME BEFORE INCOME TAXES | |||||||||||||||||||
11,482 | 18,164 | 10,546 | 30,398 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
NET INCOME BEFORE INCOME TAXES | 11,482 | 18,164 | 10,546 | 30,398 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Income tax expense | |||||||||||||||||||
2,412 | 4,110 | 2,851 | 4,175 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income tax expense | 2,412 | 4,110 | 2,851 | 4,175 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
NET INCOME | |||||||||||||||||||
9,070 | 14,053 | 7,695 | 26,223 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
NET INCOME | 9,070 | 14,053 | 7,695 | 26,223 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Less: net income attributable to noncontrolling interest | |||||||||||||||||||
757 | 1,069 | 837 | 1,236 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Less: net income attributable to noncontrolling interest | 757 | 1,069 | 837 | 1,236 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
NET INCOME ATTRIBUTABLE TO NEP COMMON STOCKHOLDERS | |||||||||||||||||||
8,312 | 12,983 | 6,857 | 24,987 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
NET INCOME ATTRIBUTABLE TO NEP COMMON STOCKHOLDERS | 8,312 | 12,983 | 6,857 | 24,987 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total other comprehensive income | |||||||||||||||||||
1,468 | 1,648 | 1,984 | 650 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total other comprehensive income | 1,468 | 1,648 | 1,984 | 650 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Less: foreign currency translation (gain) loss attributable to noncontrolling interest | |||||||||||||||||||
-12 | 20 | -692 | -106 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Less: foreign currency translation (gain) loss attributable to noncontrolling interest | -12 | 20 | -692 | -106 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Foreign currency translation gain attributable to NEP common stockholders | |||||||||||||||||||
1,481 | 1,628 | 2,677 | 757 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Foreign currency translation gain attributable to NEP common stockholders | 1,481 | 1,628 | 2,677 | 757 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
COMPREHENSIVE INCOME ATTRIBUTABLE TO NEP COMMON STOCKHOLDERS | |||||||||||||||||||
9,794 | 14,612 | 9,534 | 25,744 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
COMPREHENSIVE INCOME ATTRIBUTABLE TO NEP COMMON STOCKHOLDERS | 9,794 | 14,612 | 9,534 | 25,744 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
- basic (in dollars per share) | |||||||||||||||||||
0.23 | 0.38 | 0.23 | 0.85 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
- basic (in dollars per share) | 0.23 | 0.38 | 0.23 | 0.85 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
- diluted (in dollars per share) | |||||||||||||||||||
0.23 | 0.37 | 0.22 | 0.80 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
- diluted (in dollars per share) | 0.23 | 0.37 | 0.22 | 0.80 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
- basic (in shares) | |||||||||||||||||||
35,547 | 34,158 | 29,829 | 29,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
- basic (in shares) | 35,547 | 34,158 | 29,829 | 29,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
- diluted (in shares) | |||||||||||||||||||
36,358 | 35,532 | 31,334 | 31,157 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
- diluted (in shares) | 36,358 | 35,532 | 31,334 | 31,157 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||