|
||||
1994 ANNUAL REPORT |
||||
|
|
||||
Consolidated Statements of Income
|
||||
|
||||
1994 ANNUAL REPORT |
||||
|
|
||||
Consolidated Statements of Income
|
||||
|
Year ended December 31, |
|||
| 1994 | 1993 | 1992 | |
| ----------------- | ----------------- | ----------------- | |
| Revenues: | |||
| Oil and gas sales | $ 19,802,188 | $ 15,535,671 | $ 12,420,222 |
| Earned interests from limited partnerships | |||
| and joint ventures | -- | 3,308,623 | 1,692,331 |
| Fees from limited partnerships and joint ventures | 701,528 | 763,347 | 1,023,946 |
| Supervision fees | 3,751,061 | 3,718,829 | 3,443,777 |
| Interest income | 47,980 | 201,584 | 113,387 |
| Other, net | 1,072,535 | 604,599 | 515,931 |
| ----------------- | ----------------- | ----------------- | |
| 25,375,292 | 24,132,653 | 19,209,594 | |
| ----------------- | ----------------- | ----------------- | |
| Costs and Expenses: | |||
| General and administrative, net of reimbursement | 5,197,899 | 5,065,323 | 4,977,440 |
| Depreciation, depletion and amortization | 7,904,801 | 7,300,967 | 4,906,029 |
| Oil and gas production | 5,639,630 | 4,540,290 | 3,934,294 |
| Interest expense | 1,795,133 | 597,465 | 76,477 |
| Impairment of investment in drilling tool subsidiary | -- | -- | 627,835 |
| ----------------- | ----------------- | ----------------- | |
| 20,537,463 | 17,504,045 | 14,522,075 | |
| ----------------- | ----------------- | ----------------- | |
| Income Before Income Taxes | 4,837,829 | 6,628,608 | 4,687,519 |
| Provision for Income Taxes | 1,112,158 | 1,732,355 | 1,517,759 |
| ----------------- | ----------------- | ----------------- | |
| Income Before Cumulative Effect of Change | |||
| in Accounting Principle | 3,725,671 | 4,896,253 | 3,169,760 |
| Cumulative Effect of Change in Accounting Principle | (16,772,698) | -- | 915,000 |
| ----------------- | ----------------- | ----------------- | |
| Net Income (Loss) | $ (13,047,027) | $ 4,896,253 | $ 4,084,760 |
| =========== | =========== | =========== | |
| Per Share Amounts-- | |||
| Primary: | |||
| Income Before Cumulative Effect of Change | |||
| in Accounting Principle | $ 0.56 | $ 0.74 | $ 0.52 |
| =========== | =========== | =========== | |
| Cumulative Effect of Change in Accounting | |||
| Principle | $ (2.52) | $ -- | $ 0.15 |
| =========== | =========== | =========== | |
| Net Income (Loss) | $ (1.96) | $ 0.74 | $ 0.67 |
| =========== | =========== | =========== | |
| Fully Diluted: | |||
| Income Before Cumulative Effect of Change | |||
| in Accounting Principle | $ 0.56 | $ 0.70 | $ 0.52 |
| =========== | =========== | =========== | |
| Cumulative Effect of Change in Accounting | |||
| Principle | $ (2.52) | $ -- | $ 0.15 |
| =========== | =========== | =========== | |
| Net Income (Loss) | $ (1.96) | $ 0.70 | $ 0.67 |
| =========== | =========== | =========== | |
| Weighted Average Shares Outstanding | 6,644,248 | 6,588,076 | 6,135,044 |
| =========== | =========== | =========== | |
| Pro forma amounts assuming change in accounting for | |||
| earned interests if applied retroactively (see Note 2)-- | |||
| Net Income | $ 3,725,671 | $ 4,322,478 | $ 3,729,851 |
| Per Share Amounts-- | |||
| Primary | $ 0.56 | $ 0.66 | $ 0.61 |
| Fully Diluted | $ 0.56 | $ 0.63 | $ 0.61 |
Go to...
This page was last updated on Saturday, February 08, 2003 , at 07:28:36 PM .
Copyright © 1994-2008 by Swift Energy Company.
Click here to go to our home page or search page.
Please note the terms of use for the Swift Energy web site.
If you have comments or questions, see our feedback or requests pages.
Contact Swift Energy Company Stockholder Relations through e-mail info@swiftenergy.com or telephone (281) 874-2700.
