|
|
|
|
|
2004 |
|
2003 |
|
Percent
Change
|
|
|
|
|
|
|
|
| Revenues
|
|
$310,276,774
|
|
$208,900,983
|
|
49%
|
| Oil and Gas Sales
|
|
$311,285,172
|
|
$211,032,639
|
|
48%
|
| Costs & Expenses
|
|
$208,836,532
|
|
$158,161,805
|
|
32%
|
| Income Before Change in
Accounting Principle
|
|
$68,450,917
|
|
$34,270,664
|
|
100%
|
| Cumulative Effect of
Change in Accounting Principle (Net of Taxes)
|
|
---
|
|
($4,376,852)
|
|
(100)%
|
| Net Income
|
|
$68,450,917
|
|
$29,893,812
|
|
129%
|
|
|
|
|
|
|
|
|
| Basic Earnings per Share
Before Change in Accounting Principle
|
|
$2.46
|
|
$1.25
|
|
97%
|
| Change in Accounting
Principle (per Share)
|
|
---
|
|
($0.16)
|
|
(100)%
|
| Earnings per Share--Basic
|
|
$2.46
|
|
$1.09
|
|
126%
|
| Earnings per Share--Diluted
|
|
$2.41
|
|
$1.08
|
|
123%
|
|
|
|
|
|
|
|
|
| Total Assets
|
|
$990,573,147
|
|
$859,838,544
|
|
15%
|
| Working Capital
|
|
($14,232,295)
|
|
($35,892,385)
|
|
(60)%
|
| Current Ratio
|
|
0.79
|
|
0.48
|
|
65%
|
| Long-Term Debt
|
|
$357,500,000
|
|
$340,254,783
|
|
5%
|
| Stockholders' Equity
|
|
$474,172,140
|
|
$397,391,264
|
|
19%
|
| Long-Term
Debt to Equity Ratio
|
|
0.75
|
|
0.86
|
|
(13)%
|
| Return
on Assets (Net Income / Average Assets)
|
|
7.4%
|
|
3.7%
|
|
100%
|
| Return
on Stockholders’ Equity (Net Income / Average Equity)
|
|
15.7%
|
|
7.8%
|
|
101%
|
|
|
|
|
|
|
|
|
| Net Cash Provided by Operating Activities
|
|
$182,582,887
|
|
$110,827,279
|
|
65%
|
|
|
|
|
|
|
|
|
| Total Production (Mcfe)
|
|
58,318,502
|
|
53,158,384
|
|
10%
|
| Natural Gas Production (Mcf)
|
|
23,741,726
|
|
28,002,719
|
|
(15)%
|
| Oil & Condensate Production (Bbls)
|
|
4,722,329
|
|
3,369,398
|
|
40%
|
| Natural Gas Liquids
Production (Bbls)
|
|
1,040,467
|
|
823,214
|
|
26%
|
|
|
|
|
|
|
|
|
| Average Composite Prices Received ($/Mcfe)
|
|
$5.34
|
|
$3.97
|
|
34%
|
| Average Natural Gas Prices Received ($/Mcf)
|
|
$4.12
|
|
$3.42
|
|
20%
|
| Average Oil & Condensate Prices Received ($/Bbl)
|
|
$40.24
|
|
$29.89
|
|
35%
|
| Average Natural Gas
Liquids Prices Received ($/Bbl)
|
|
$22.52
|
|
$17.60
|
|
28%
|
|
|
|
|
|
|
|
|
| Total Proved Reserves (Mcfe)
|
|
799,849,539
|
|
820,364,284
|
|
(3)%
|
| Proved Natural Gas Reserves (Mcf)
|
|
318,246,294
|
|
335,804,862
|
|
(5)%
|
| Proved Oil & Condensate Reserves
(Bbls)
|
|
65,655,041
|
|
63,808,873
|
|
3%
|
| Proved Natural Gas Liquids
Reserves (Bbls)
|
|
14,612,167
|
|
16,951,030
|
|
(14)%
|
|
|
|
|
|
|
|
|
| Weighted Average Shares Outstanding
|
|
27,822,413
|
|
27,357,579
|
|
2%
|
| Year-End Shares Outstanding
|
|
28,089,764
|
|
27,484,091
|
|
2%
|
| Number of Shareholders of Record
|
|
298
|
|
348
|
|
(14)%
|
| Number of Shareholders in Street Name
(est.)
|
|
5,752
|
|
5,775
|
|
0%
|
| Market Price of Common Stock at Year-End
|
|
$28.94
|
|
$16.85
|
|
72%
|
| Price-Earnings
Ratio (Year-End Stock Price/EPS-Basic)
|
|
11.8
|
|
15.5
|
|
(24)%
|
|
|
|
|
|
|
|
| Number of Employees
|
|
272
|
|
241
|
|
13%
|
|
® are registered service marks of Swift Energy Company.