FORM 10-K FOR FISCAL YEAR ENDED DECEMBER 31, 2005


Consolidated Statements of Income

Swift Energy Company and Subsidiaries


Year Ended December 31,

2005

2004

2003

Revenues:
     Oil and gas sales

$    423,766,245

$    311,285,172

$    211,032,639

     Price-risk management and other, net

(539,756)

(1,008,398)

(2,131,656)

-----------------------

-----------------------

-----------------------

423,226,489

310,276,774

208,900,983

-----------------------

-----------------------

-----------------------

Costs and Expenses:
     General and administrative, net

22,176,362

17,787,125

14,097,066

     Depreciation, depletion, and amortization

107,477,787

81,580,828

63,072,057

     Accretion of asset retirement obligation

761,042

673,654

857,356

     Lease operating cost

47,321,841

41,214,256

33,833,198

     Severance and other taxes

42,176,505

30,401,293

19,033,604

     Interest expense, net

24,873,401

27,643,108

27,268,524

     Debt retirement cost

---

9,536,268

---

-----------------------

-----------------------

-----------------------

244,786,938

208,836,532

158,161,805

-----------------------

-----------------------

-----------------------

Income Before Income Taxes and
     Change in Accounting Principle

178,439,551

101,440,242

50,739,178

Provision for Income Taxes

62,661,095

32,989,325

16,468,514

-----------------------

-----------------------

-----------------------

Income Before Change in Accounting Principle

$    115,778,456

$     68,450,917

$     34,270,664

Cumulative Effect of Change in Accounting Principle (net of taxes)

---

---

4,376,852

-----------------------

-----------------------

-----------------------

Net Income

$    115,778,456

$     68,450,917

$     29,893,812

============

============

============

Per Share Amounts-
     Basic: Income Before Change in Accounting Principle

$               4.06

$              2.46

$              1.25

               Change in Accounting Principle

---

---

(0.16)

-----------------------

-----------------------

-----------------------

               Net Income

$               4.06

$              2.46

$              1.09

============

============

============

     Diluted: Income Before Change in Accounting Principle

$               3.95

$              2.41

$              1.24

               Change in Accounting Principle

---

---

(0.16)

-----------------------

-----------------------

-----------------------

               Net Income

$               3.95

$              2.41

$              1.08

============

============

============

Weighted Average Shares Outstanding

28,496,275

27,822,413

27,357,579

============

============

============

See accompanying Notes to Consolidated Financial Statements.


Go to...


This page was last updated on Tuesday, March 14, 2006 , at 11:50:31 AM .

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.