AR FY 2011 Earnings Report — Antero Resources Corporation Revenue & Financial Results | Market Cap Arena

Antero Resources CorporationAR

FY 2011 Earnings

Reported December 30, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$195M	—	$47M	—	311.7%
Op. Income	$531M	—	$60M	—	780.6%
Gross Margin	43.9%	—	33.0%	—	11.0pp
Net Margin	201.1%	—	482.0%	—	-280.9pp
EPS (Diluted)	$1.51	—	$0.88	—	71.6%
Free Cash Flow	-$109M	—	$37M	—	-397.8%

Revenue Flow

Item	Amount
REVENUE	$195M
Cost of Revenue	$110M
GROSS PROFIT	$86M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$33M
Other Expenses	-$479M
Operating Expenses	-$445M
Cost & Expenses	-$336M
OPERATING INCOME	$531M
Interest Income	$0
Interest Expense	$74M
Other Income/Expenses	-$74M
INCOME BEFORE TAX	$456M
Income Tax Expense	$185M
Net Income from Continuing Ops	$271M
Net Income from Discontinued Ops	$121M
Other Adjustments	$0
NET INCOME	$393M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$393M
D&A	$56M
EBIT	$531M
EBITDA	$587M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$195M
Cost of Revenue	$110M
GROSS PROFIT	$86M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$33M
Other Expenses	-$479M
Operating Expenses	-$445M
Cost & Expenses	-$336M
OPERATING INCOME	$531M
Interest Income	$0
Interest Expense	$74M
Other Income/Expenses	-$74M
INCOME BEFORE TAX	$456M
Income Tax Expense	$185M
Net Income from Continuing Ops	$271M
Net Income from Discontinued Ops	$121M
Other Adjustments	$0
NET INCOME	$393M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$393M
D&A	$56M
EBIT	$531M
EBITDA	$587M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$393M
Depreciation & Amortization	$56M
Stock-Based Compensation	$0
Deferred Income Tax	$185M
Other Non-Cash Items	-$376M
Change in Working Capital	$8M
OPERATING CASH FLOW	$266M
Capital Expenditure	-$376M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$526M
NET CASH FROM INVESTING	-$901M
Net Debt Issuance	$665M
Common Stock Repurchased	$0
Common Dividends Paid	-$29M
Other Financing Activities	-$7M
NET CASH FROM FINANCING	$629M
FREE CASH FLOW	-$109M
Net Change in Cash	-$6M

Balance Sheet

Item	Amount
Cash & Equivalents	$3M
Short-Term Investments	$0
Net Receivables	$68M
Inventory	$0
Other Current Assets	$262M
TOTAL CURRENT ASSETS	$334M
PP&E (Net)	$2.9B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$575M
TOTAL NON-CURRENT ASSETS	$3.5B
TOTAL ASSETS	$3.8B
Account Payables	$107M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$75M
TOTAL CURRENT LIABILITIES	$255M
Long-Term Debt	$1.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$245M
Other Non-Current Liabilities	$12M
TOTAL NON-CURRENT LIABILITIES	$1.6B
TOTAL LIABILITIES	$1.8B
Common Stock	$0
Additional Paid-In Capital	$0
Retained Earnings	$498M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$1.5B
TOTAL STOCKHOLDERS' EQUITY	$2.0B
Minority Interest	$0
TOTAL EQUITY	$2.0B
TOTAL LIABILITIES & EQUITY	$3.8B
Total Debt	$1.3B
Net Debt	$1.3B