VERSO CORPORATION VRS Income Statement

Verso corporation (VRS)

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	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
Net sales
471,000	587,000	616,000	602,000	639,000	695,000	704,000	644,000	639,000	639,000	621,000	585,000	616,000	-	-	-	-	-	-	778,000	806,000	350,000	321,000	299,000	350,519	374,876	330,385	333,220	361,051	373,004	365,262	375,295	450,282	456,836	398,779	416,592	432,939	401,047
Costs and expenses:
Cost of products sold (exclusive of depreciation and amortization)
427,000	513,000	536,000	540,000	549,000	-	-	-	-	560,000	554,000	574,000	562,000	-	-	-	-	-	-	657,000	728,000	-	-	-	287,535	305,718	293,888	291,859	310,332	301,833	323,185	337,280	393,728	375,554	338,480	352,528	371,907	364,458
Depreciation and amortization
23,000	26,000	25,000	104,000	28,000	28,000	28,000	28,000	27,000	28,000	27,000	27,000	33,000	-	-	-	-	-	-	64,000	57,000	-	-	-	26,380	26,333	26,307	25,980	26,840	28,138	31,777	31,423	31,113	31,190	31,645	31,347	31,642	32,787
Selling, general and administrative expenses
27,000	28,000	23,000	29,000	24,000	24,000	25,000	28,000	25,000	26,000	24,000	24,000	33,000	4,000	7,000	-	-	-	-	46,000	55,000	18,000	17,000	18,000	17,996	18,028	19,180	18,796	18,168	17,499	19,930	18,818	18,268	19,490	21,667	18,634	16,437	16,559
Restructuring charges
6,000	8,000	4,000	40,000	0	-1,000	0	1,000	1,000	1,000	4,000	2,000	2,000	-	-	-	-	-	-	6,000	22,000	0	0	0	-327	145	166	1,016	5,407	97,018	-106	85	-	-	-	-	-	-
Other operating (income) expense
88,000	-2,000	0	-1,000	-1,000	-2,000	9,000	-2,000	0	-1,000	0	0	-	-	-	-	-	-	-	0	0	0	0	0	29	0	686	3,285	60,594	0	0	0	-	-	-	-	-	-
Total operating expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	350,224	339,541	337,651	360,747	444,488	374,786	387,606	486,268	426,234	391,792	402,509	419,986	413,804
Operating income (loss)
76,000	10,000	28,000	-112,000	37,000	-	-	-	-	23,000	12,000	-42,000	-14,000	-	-	-	-	-	-	5,000	-56,000	-	-	-	18,964	24,652	-8,470	-1,146	60,898	-71,484	-9,524	-12,311	-35,986	30,602	6,987	14,083	12,953	-12,757
Interest income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-20	6	5	9	1	3	2	2	20	12	33	34	32	23
Interest expense
0	0	0	1,000	1,000	1,000	15,000	6,000	11,000	9,000	10,000	10,000	9,000	-	-	-	-	-	-	67,000	66,000	37,000	36,000	34,000	34,540	34,360	34,440	34,660	36,830	33,284	33,228	32,119	31,807	30,859	31,552	32,389	32,188	31,872
Other (income) expense
4,000	15,000	1,000	1,000	1,000	24,000	21,000	3,000	4,000	14,000	2,000	3,000	-2,000	-	-	-	-	-	-	-	-	-14,000	-9,000	-10,000	-5,224	-70	-134	-2,572	93	21	22,077	-29,570	5	44	236	-26,327	71	223
Reorganization items, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (loss) before income taxes
80,000	25,000	29,000	-112,000	37,000	-	-	-	-	28,000	4,000	-49,000	-21,000	-	-	-	-	-	-	-62,000	-122,000	-	-	-	-20,820	-9,772	-43,039	-38,369	24,162	-104,744	-20,673	-73,998	-67,768	-201	-24,296	-44,599	-19,132	-44,383
Income tax expense (benefit)
26,000	-117,000	-1,000	0	1,000	0	0	0	0	-8,000	0	0	0	-	-	-	-	-	-	-2,000	0	-1,000	0	0	-1,020	11	0	9	-1,319	-45	9	-69	53	146	0	-2	-	-
Net Income (Loss) Attributable to Parent
54,000	142,000	30,000	-112,000	36,000	86,000	86,000	1,000	-2,000	36,000	4,000	-49,000	-21,000	-	-	-	-	-	-	-60,000	-122,000	-36,000	-42,000	-91,000	-19,800	-9,783	-43,039	-38,378	25,481	-104,699	-20,682	-73,929	-67,821	-347	-24,296	-44,597	-19,132	-44,383
Earnings Per Share [Abstract]
Earnings Per Share, Basic
1.53	4.10	0.86	-3.23	1.05	2.49	2.49	0.03	-0.06	1.04	0.12	-1.42	-0.61	-	-	-	-	-	-	-0.73	-1.53	-0.67	-0.80	-1.70	-0.38	-0.18	-0.81	-0.72	0.48	-1.98	-0.39	-1.40	-1.30	-0.01	-0.46	-0.84	-0.36	-0.85
Earnings Per Share, Diluted
1.52	4.04	0.85	-3.23	1.03	2.44	2.45	0.03	-0.06	1.04	0.12	-1.42	-0.61	-	-	-	-	-	-	-0.73	-1.53	-0.67	-0.80	-1.70	-0.38	-0.18	-0.81	-0.72	0.48	-1.98	-0.39	-1.40	-1.30	-0.01	-0.46	-0.84	-0.36	-0.85
Weighted average common shares outstanding (in thousands)
Weighted Average Number of Shares Outstanding, Basic
35,107	34,702	34,686	34,626	34,484	34,553	34,562	34,506	34,465	34,465	34,456	34,416	34,391	-	-	-	-	-	-	81,763	79,670	53,328	53,323	53,188	53,176	53,172	53,172	52,976	52,899	52,907	52,908	52,686	52,023	52,620	52,623	53,114	52,466	52,466
Weighted Average Number of Shares Outstanding, Diluted
35,381	35,232	35,137	34,626	35,225	35,288	35,051	34,829	34,465	34,618	34,460	34,416	34,391	-	-	-	-	-	-	81,763	79,670	53,328	53,323	53,188	53,176	53,172	53,172	52,976	52,899	52,907	52,908	52,686	52,023	52,620	52,623	53,114	52,466	52,466
Net sales
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	42,994	58,645	38,866
Purchases included in cost of products sold
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,813	1,632	1,518
Predecessor
Net sales
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	630,000	690,000	756,000	782,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of products sold (exclusive of depreciation and amortization)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	548,000	618,000	-	677,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of Goods Sold, Depreciation, Depletion and Amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	45,000	48,000	-	60,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Selling, general and administrative expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	40,000	47,000	53,000	33,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restructuring charges
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,000	144,000	-29,000	55,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other operating (income) expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	57,000	-1,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating income (loss)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-10,000	-110,000	-	-43,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,000	26,000	69,000	68,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other (income) expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (loss) before reorganization items, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-21,000	-136,000	-	-111,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Reorganization items, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,000	-48,000	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (loss) before income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-33,000	-88,000	-	-111,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income tax expense (benefit)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-1,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income (loss)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-33,000	-88,000	-129,000	-111,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic (usd per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.40	-1.07	-1.58	-1.36	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Diluted (usd per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.40	-1.07	-1.58	-1.36	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic (in shares)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	81,828	81,869	81,876	81,842	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Diluted (in shares)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	81,828	81,869	81,876	81,842	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Successor
Net sales
-	-	-	-	-	-	-	-	-	-	-	-	-	646,000	578,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of products sold (exclusive of depreciation, amortization and depletion)
-	-	-	-	-	-	-	-	-	-	-	-	-	539,000	559,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of Goods Sold, Depreciation, Depletion and Amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	69,000	24,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Selling, general and administrative expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	26,000	23,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restructuring charges
-	-	-	-	-	-	-	-	-	-	-	-	-	9,000	2,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other operating (income) expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-6,000	-2,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Income (Loss)
-	-	-	-	-	-	-	-	-	-	-	-	-	-3,000	-32,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense
-	-	-	-	-	-	-	-	-	-	-	-	-	9,000	8,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other loss, net
-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss before reorganization items, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-12,000	-40,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Reorganization Items
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Loss) income before income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-12,000	-40,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income tax benefit
-	-	-	-	-	-	-	-	-	-	-	-	-	-20,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss) Attributable to Parent
-	-	-	-	-	-	-	-	-	-	-	-	-	8,000	-40,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic (usd per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	0.23	-1.16	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Diluted (usd per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	0.23	-1.16	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic (shares)
-	-	-	-	-	-	-	-	-	-	-	-	-	34,391	34,391	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Diluted (shares)
-	-	-	-	-	-	-	-	-	-	-	-	-	34,391	34,391	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-