FORM 10-K FOR FISCAL YEAR ENDED DECEMBER 31, 1995 |
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|
Consolidated Statements of Income |
Swift Energy Company and Subsidiaries |
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|
| Year ended December 31, | |||
| 1995 | 1994 | 1993 | |
| ----------------- | ----------------- | ----------------- | |
| Revenues: | |||
| Oil and gas sales | $ 22,527,892 | $ 19,802,188 | $ 15,535,671 |
| Earned Interests from limited partnerships | |||
| and joint ventures | -- | -- | 3,308,623 |
| Fees from limited partnerships and joint ventures | 590,441 | 701,528 | 763,347 |
| Supervision fees | 3,838,815 | 3,751,061 | 3,718,829 |
| Interest income | 212,329 | 47,980 | 201,584 |
| Other, net | 1,761,568 | 1,072,535 | 604,599 |
| --------------- | --------------- | -------------- | |
| 28,931,045 | 25,375,292 | 24,132,653 | |
| --------------- | --------------- | --------------- | |
| Costs and Expenses: | |||
| General and administrative, net of reimbursement | 5,256,184 | 5,197,899 | 5,065,323 |
| Depreciation, depletion and amortization | 8,838,657 | 7,904,801 | 7,300,967 |
| Oil and gas production | 6,826,306 | 5,639,630 | 4,540,290 |
| Interest expense, net | 1,115,361 | 1,795,133 | 597,465 |
| --------------- | --------------- | --------------- | |
| 22,036,508 | 20,537,463 | 17,504,045 | |
| --------------- | --------------- | --------------- | |
| Income Before Income Taxes | 6,894,537 | 4,837,829 | 6,628,608 |
| Provision for Income Taxes | 1,982,025 | 1,112,158 | 1,732,355 |
| --------------- | --------------- | --------------- | |
| Income Before Cumulative Effect of Change | |||
| in Accounting Principle | 4,912,512 | 3,725,671 | 4,896,253 |
| Cumulative Effect of Change in Accounting Principle | -- | (16,772,698) | -- |
| --------------- | --------------- | --------------- | |
| Net Income (Loss) | $ 4,912,512 | $ (13,047,027) | $ 4,896,253 |
| ============ | ============ | ============ | |
| Per share amounts -- | |||
| Primary: | |||
| Income Before Cumulative Effect of Change | |||
| in Accounting Principle | $ 0.54 | $ 0.56 | $ 0.74 |
| ============ | ============ | ============ | |
| Cumulative Effect of Change in Accounting Principle | $ -- | $ (2.52) | $ -- |
| ============ | ============ | ============ | |
| Net Income (Loss) | $ 0.54 | $ (1.96) | $ 0.74 |
| ============ | ============ | ============ | |
| Fully diluted: | |||
| Income Before Cumulative Effect of Change | |||
| in Accounting Principle | $ 0.54 | $ 0.56 | $ 0.70 |
| ============ | ============ | ============ | |
| Cumulative Effect of Change in Accounting Principle | $ -- | $ (2.52) | $ -- |
| ============ | ============ | ============ | |
| Net Income (Loss) | $ 0.54 | $ (1.96) | $ 0.70 |
| ============ | ============ | ============ | |
| Weighted Average Shares Outstanding | 9,122,857 | 6,644,248 | 6,588,076 |
| ============ | ============ | ============ | |
| Pro forma amounts assuming change in accounting | |||
| for earned interests if applied retroactively -- | |||
| (see Note 2) -- | |||
| Net Income | $ 3,725,671 | $ 4,322,478 | |
| Per share amounts -- | |||
| Primary | $ 0.56 | $ 0.66 | |
| Fully Diluted | $ 0.56 | $ 0.63 | |
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