NOG FY 2013 Earnings Report — Northern Oil and Gas, Inc. Revenue & Financial Results | Market Cap Arena

Northern Oil and Gas, Inc.NOG

FY 2013 Earnings

Reported March 3, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$369M	—	$297M	—	24.4%
Op. Income	$118M	—	$135M	—	-12.4%
Gross Margin	45.5%	—	46.2%	—	-0.7pp
Net Margin	14.4%	—	24.4%	—	-10.0pp
EPS (Diluted)	$8.50	—	$11.50	—	-26.1%
Free Cash Flow	-$138M	—	-$334M	—	58.7%

Revenue Flow

Item	Amount
REVENUE	$369M
Cost of Revenue	$201M
GROSS PROFIT	$168M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$17M
SG&A Expenses	$17M
Other Expenses	$33M
Operating Expenses	$52M
Cost & Expenses	$218M
OPERATING INCOME	$118M
Interest Income	$0
Interest Expense	$33M
Other Income/Expenses	-$33M
INCOME BEFORE TAX	$85M
Income Tax Expense	$32M
Net Income from Continuing Ops	$53M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$53M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$53M
D&A	$124M
EBIT	$118M
EBITDA	$242M
EPS	$9
EPS Diluted	$9

Income Statement

Item	Amount
REVENUE	$369M
Cost of Revenue	$201M
GROSS PROFIT	$168M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$17M
SG&A Expenses	$17M
Other Expenses	$33M
Operating Expenses	$52M
Cost & Expenses	$218M
OPERATING INCOME	$118M
Interest Income	$0
Interest Expense	$33M
Other Income/Expenses	-$33M
INCOME BEFORE TAX	$85M
Income Tax Expense	$32M
Net Income from Continuing Ops	$53M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$53M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$53M
D&A	$124M
EBIT	$118M
EBITDA	$242M
EPS	$9
EPS Diluted	$9

Cash Flow Statement

Item	Amount
Net Income	$53M
Depreciation & Amortization	$124M
Stock-Based Compensation	$5M
Deferred Income Tax	$32M
Other Non-Cash Items	$23M
Change in Working Capital	-$15M
OPERATING CASH FLOW	$223M
Capital Expenditure	-$360M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$2M
NET CASH FROM INVESTING	-$359M
Net Debt Issuance	$162M
Common Stock Repurchased	-$26M
Common Dividends Paid	$0
Other Financing Activities	-$7M
NET CASH FROM FINANCING	$128M
FREE CASH FLOW	-$138M
Net Change in Cash	-$8M

Balance Sheet

Item	Amount
Cash & Equivalents	$6M
Short-Term Investments	$0
Net Receivables	$87M
Inventory	$11M
Other Current Assets	$11M
TOTAL CURRENT ASSETS	$104M
PP&E (Net)	$1.4B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$10.4B
Other Non-Current Assets	-$10.4B
TOTAL NON-CURRENT ASSETS	$1.4B
TOTAL ASSETS	$1.5B
Account Payables	$169M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$19M
TOTAL CURRENT LIABILITIES	$194M
Long-Term Debt	$585M
Deferred Revenue NC	$637.2K
Deferred Tax Liabilities	$117M
Other Non-Current Liabilities	$4M
TOTAL NON-CURRENT LIABILITIES	$706M
TOTAL LIABILITIES	$900M
Common Stock	$61.9K
Additional Paid-In Capital	$446M
Retained Earnings	$174M
Treasury Stock	$0
Accum. Other Comp. Income	-$286M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$620M
Minority Interest	$0
TOTAL EQUITY	$620M
TOTAL LIABILITIES & EQUITY	$1.5B
Total Debt	$585M
Net Debt	$579M