EGY FY 2008 Earnings Report — VAALCO Energy, Inc. Revenue & Financial Results | Market Cap Arena

VAALCO Energy, Inc.EGY

FY 2008 Earnings

Reported March 16, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$170M	—	$125M	—	35.6%
Op. Income	$106M	—	$69M	—	55.0%
Gross Margin	80.3%	—	75.7%	—	4.7pp
Net Margin	17.5%	—	15.2%	—	2.3pp
EPS (Diluted)	$0.50	—	$0.32	—	56.3%
Free Cash Flow	$81M	—	$29M	—	181.7%

Revenue Flow

Item	Amount
REVENUE	$170M
Cost of Revenue	$33M
GROSS PROFIT	$136M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$11M
SG&A Expenses	$11M
Other Expenses	$19M
Operating Expenses	$30M
Cost & Expenses	$63M
OPERATING INCOME	$106M
Interest Income	$3M
Interest Expense	$4M
Other Income/Expenses	$2M
INCOME BEFORE TAX	$109M
Income Tax Expense	$73M
Net Income from Continuing Ops	$36M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$30M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$30M
D&A	$19M
EBIT	$109M
EBITDA	$128M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$170M
Cost of Revenue	$33M
GROSS PROFIT	$136M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$11M
SG&A Expenses	$11M
Other Expenses	$19M
Operating Expenses	$30M
Cost & Expenses	$63M
OPERATING INCOME	$106M
Interest Income	$3M
Interest Expense	$4M
Other Income/Expenses	$2M
INCOME BEFORE TAX	$109M
Income Tax Expense	$73M
Net Income from Continuing Ops	$36M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$30M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$30M
D&A	$19M
EBIT	$109M
EBITDA	$128M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$30M
Depreciation & Amortization	$19M
Stock-Based Compensation	$3M
Deferred Income Tax	$108.0K
Other Non-Cash Items	$15M
Change in Working Capital	$40M
OPERATING CASH FLOW	$107M
Capital Expenditure	-$26M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$17M
NET CASH FROM INVESTING	-$42M
Net Debt Issuance	$0
Common Stock Repurchased	-$9M
Common Dividends Paid	$0
Other Financing Activities	-$6M
NET CASH FROM FINANCING	-$15M
FREE CASH FLOW	$81M
Net Change in Cash	$49M

Balance Sheet

Item	Amount
Cash & Equivalents	$125M
Short-Term Investments	$0
Net Receivables	$15M
Inventory	$2M
Other Current Assets	$7M
TOTAL CURRENT ASSETS	$152M
PP&E (Net)	$82M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$1M
Other Non-Current Assets	$16M
TOTAL NON-CURRENT ASSETS	$100M
TOTAL ASSETS	$252M
Account Payables	$5M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$63M
Long-Term Debt	$5M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$10M
TOTAL NON-CURRENT LIABILITIES	$15M
TOTAL LIABILITIES	$78M
Common Stock	$6M
Additional Paid-In Capital	$54M
Retained Earnings	$117M
Treasury Stock	-$11M
Accum. Other Comp. Income	-$61M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$166M
Minority Interest	$8M
TOTAL EQUITY	$174M
TOTAL LIABILITIES & EQUITY	$252M
Total Debt	$5M
Net Debt	-$120M