Financial Statements for Essential Energy Services Ltd

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Essential Energy Services Ltd financials

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Income Statement

Balance Sheet

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In Millions of CAD (except for per share items)	3 months ending 2013-03-31	12 months ending 2012-12-31	3 months ending 2012-09-30	3 months ending 2012-06-30	3 months ending 2012-03-31
Revenue	120.52	348.58	84.90	52.33	118.18
Other Revenue, Total	-	-	-	-	-
Total Revenue	120.52	348.58	84.90	52.33	118.18
Cost of Revenue, Total	82.69	257.88	-	-	81.44
Gross Profit	37.83	90.69	84.90	52.33	36.74
Selling/General/Admin. Expenses, Total	4.75	18.25	4.41	4.59	4.48
Research & Development	-	-	-	-	-
Depreciation/Amortization	7.04	26.32	6.45	6.23	7.08
Interest Expense(Income) - Net Operating	-	-	-	-	-
Unusual Expense (Income)	-	0.02	-	-	-
Other Operating Expenses, Total	-0.13	1.65	62.04	48.74	-1.24
Total Operating Expense	94.35	304.13	72.90	59.56	91.75
Operating Income	26.17	44.45	12.00	-7.23	26.43
Interest Income(Expense), Net Non-Operating	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-
Other, Net	-	0.00	0.00	0.00	-
Income Before Tax	25.80	42.29	11.50	-7.80	25.80
Income After Tax	19.20	30.76	8.72	-6.01	19.82
Minority Interest	0.03	0.45	-0.06	0.08	0.16
Equity In Affiliates	-	-	-	-	-
Net Income Before Extra. Items	19.23	31.21	8.66	-5.92	19.99
Accounting Change	-	-	-	-	-
Discontinued Operations	-	-	-	-	-
Extraordinary Item	-	-	-	-	-
Net Income	18.63	22.31	8.66	-5.92	18.89
Preferred Dividends	-	-	-	-	-
Income Available to Common Excl. Extra Items	19.23	31.21	8.66	-5.92	19.99
Income Available to Common Incl. Extra Items	18.63	22.31	8.66	-5.92	18.89
Basic Weighted Average Shares	-	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-	-
Dilution Adjustment	0.12	-	0.00	0.00	0.00
Diluted Weighted Average Shares	125.00	125.22	125.11	123.79	125.34
Diluted EPS Excluding Extraordinary Items	0.15	0.25	0.07	-0.05	0.16
Diluted EPS Including Extraordinary Items	-	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.03	0.01	0.03	0.03	0.03
Gross Dividends - Common Stock	-	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-	-
Depreciation, Supplemental	-	-	-	-	-
Total Special Items	-	-	-	-	-
Normalized Income Before Taxes	-	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-	-
Normalized Income After Taxes	-	-	-	-	-
Normalized Income Avail to Common	-	-	-	-	-
Basic Normalized EPS	-	-	-	-	-
Diluted Normalized EPS	0.15	0.25	0.07	-0.05	0.16

In Millions of CAD (except for per share items)	As of 2013-03-31	As of 2012-12-31	As of 2012-09-30	As of 2012-06-30	As of 2012-03-31
Cash & Equivalents	-	-	-	-	-
Short Term Investments	-	-	-	-	-
Cash and Short Term Investments	-	0.00	0.00	0.00	1.76
Accounts Receivable - Trade, Net	101.05	69.27	67.63	48.93	93.12
Receivables - Other	-	-	-	-	-
Total Receivables, Net	101.82	71.83	69.36	49.93	93.17
Total Inventory	21.46	20.70	19.67	21.31	20.02
Prepaid Expenses	2.65	3.31	3.90	4.12	2.73
Other Current Assets, Total	-	-	-	-	-
Total Current Assets	125.93	95.84	92.94	75.36	117.69
Property/Plant/Equipment, Total - Gross	278.39	272.82	282.24	272.07	265.34
Accumulated Depreciation, Total	-66.18	-61.52	-59.27	-54.55	-52.50
Goodwill, Net	55.01	55.01	57.42	57.42	57.42
Intangibles, Net	34.99	36.55	40.53	41.96	41.67
Long Term Investments	-	-	-	-	-
Other Long Term Assets, Total	8.15	8.14	1.79	1.11	1.06
Total Assets	436.30	406.85	415.65	393.38	430.67
Accounts Payable	17.76	17.41	-	-	-
Accrued Expenses	19.40	14.80	-	-	-
Notes Payable/Short Term Debt	4.40	1.83	1.46	2.71	0.00
Current Port. of LT Debt/Capital Leases	-	0.00	0.00	0.01	18.94
Other Current liabilities, Total	7.66	3.55	3.21	3.21	6.72
Total Current Liabilities	49.22	37.59	33.18	28.39	59.38
Long Term Debt	35.60	35.56	50.47	41.18	38.30
Capital Lease Obligations	-	-	-	-	-
Total Long Term Debt	35.60	35.56	50.47	41.18	38.30
Total Debt	40.01	37.40	51.93	43.91	57.24
Deferred Income Tax	31.73	29.56	27.52	25.79	26.27
Minority Interest	-0.04	-0.01	0.05	-0.04	0.11
Other Liabilities, Total	1.46	1.73	0.11	0.11	0.24
Total Liabilities	117.97	104.44	111.34	95.44	124.30
Redeemable Preferred Stock, Total	-	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-	-
Common Stock, Total	258.89	258.77	258.75	258.51	258.40
Additional Paid-In Capital	-	-	-	-	-
Retained Earnings (Accumulated Deficit)	53.80	38.28	40.99	35.43	44.39
Treasury Stock - Common	-	-	-	-	-
Other Equity, Total	5.64	5.36	4.58	4.00	3.58
Total Equity	318.33	302.41	304.31	297.94	306.37
Total Liabilities & Shareholders' Equity	436.30	406.85	415.65	393.38	430.67
Shares Outs - Common Stock Primary Issue	-	-	-	-	-
Total Common Shares Outstanding	124.07	123.99	123.98	123.84	123.77

In Millions of CAD (except for per share items)	As of 2012-12-31	As of 2011-12-31	As of 2010-12-31	As of 2009-12-31
Cash & Equivalents	-	-	-	-
Short Term Investments	-	-	-	-
Cash and Short Term Investments	0.00	0.16	2.39	1.08
Accounts Receivable - Trade, Net	69.27	83.06	40.00	22.86
Receivables - Other	-	-	-	-
Total Receivables, Net	71.83	85.01	40.16	22.86
Total Inventory	20.70	17.82	10.59	9.19
Prepaid Expenses	3.31	2.93	2.68	1.90
Other Current Assets, Total	-	-	-	-
Total Current Assets	95.84	105.92	55.82	35.03
Property/Plant/Equipment, Total - Gross	272.82	258.54	144.64	176.27
Accumulated Depreciation, Total	-61.52	-46.78	-34.93	-50.56
Goodwill, Net	55.01	57.42	0.00	-
Intangibles, Net	36.55	44.75	3.12	3.85
Long Term Investments	-	-	-	-
Other Long Term Assets, Total	8.14	1.64	5.16	4.80
Total Assets	406.85	421.50	173.80	169.38
Accounts Payable	17.41	23.09	14.95	-
Accrued Expenses	14.80	15.70	8.03	-
Notes Payable/Short Term Debt	1.83	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	0.00	14.51	0.33	3.23
Other Current liabilities, Total	3.55	6.70	0.47	0.00
Total Current Liabilities	37.59	60.01	23.78	12.64
Long Term Debt	35.56	48.97	0.06	13.37
Capital Lease Obligations	-	-	-	-
Total Long Term Debt	35.56	48.97	0.06	13.37
Total Debt	37.40	63.49	0.40	16.60
Deferred Income Tax	29.56	23.61	0.00	0.00
Minority Interest	-0.01	0.07	0.30	-
Other Liabilities, Total	1.73	0.00	0.00	-
Total Liabilities	104.44	132.67	24.14	26.01
Redeemable Preferred Stock, Total	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-
Common Stock, Total	258.77	257.77	150.80	265.57
Additional Paid-In Capital	-	-	1.52	6.72
Retained Earnings (Accumulated Deficit)	43.64	31.05	-2.34	-128.93
Treasury Stock - Common	-	-	-	-
Other Equity, Total	-	-	-0.32	-
Total Equity	302.41	288.83	149.66	143.37
Total Liabilities & Shareholders' Equity	406.85	421.50	173.80	169.38
Shares Outs - Common Stock Primary Issue	-	-	-	-
Total Common Shares Outstanding	123.99	123.44	71.44	59.85

In Millions of CAD (except for per share items)	3 months ending 2013-03-31	12 months ending 2012-12-31	9 months ending 2012-09-30	6 months ending 2012-06-30	3 months ending 2012-03-31
Net Income/Starting Line	19.20	30.76	21.44	12.72	19.82
Depreciation/Depletion	7.04	26.32	19.84	13.39	7.08
Amortization	-	-	-	-	-
Deferred Taxes	2.17	4.96	3.32	2.16	2.26
Non-Cash Items	0.86	6.15	2.48	1.34	0.04
Changes in Working Capital	-22.21	-4.10	-2.97	8.58	-17.84
Cash from Operating Activities	7.07	64.10	44.12	38.20	11.35
Capital Expenditures	-6.82	-51.76	-33.77	-23.01	-10.19
Other Investing Cash Flow Items, Total	0.54	24.88	8.28	8.12	6.96
Cash from Investing Activities	-6.28	-26.89	-25.49	-14.90	-3.23
Financing Cash Flow Items	-0.38	-2.18	-1.70	-1.21	-1.40
Total Cash Dividends Paid	-3.10	-9.29	-6.19	-3.09	0.00
Issuance (Retirement) of Stock, Net	0.08	0.69	0.69	0.52	0.45
Issuance (Retirement) of Debt, Net	0.04	-27.25	-13.01	-22.38	-5.58
Cash from Financing Activities	-3.36	-38.02	-20.22	-26.16	-6.53
Foreign Exchange Effects	-	0.08	-0.03	-0.02	-
Net Change in Cash	-2.57	-0.73	-1.62	-2.88	1.60
Cash Interest Paid, Supplemental	-	1.90	1.70	1.21	-
Cash Taxes Paid, Supplemental	2.63	11.51	10.91	8.52	5.34

In Millions of CAD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Net Income/Starting Line	30.76	32.35	11.99	-9.48
Depreciation/Depletion	26.32	21.55	12.78	20.16
Amortization	-	-	-	-
Deferred Taxes	4.96	5.67	3.78	-7.21
Non-Cash Items	3.99	4.89	1.49	1.21
Changes in Working Capital	-1.94	-31.31	-6.08	10.42
Cash from Operating Activities	64.10	33.14	23.96	15.11
Capital Expenditures	-51.76	-45.25	-20.27	-7.83
Other Investing Cash Flow Items, Total	24.88	-50.51	1.65	0.01
Cash from Investing Activities	-26.89	-95.77	-18.62	-7.82
Financing Cash Flow Items	-2.18	-2.08	-0.72	0.00
Total Cash Dividends Paid	-9.29	0.00	-	-4.09
Issuance (Retirement) of Stock, Net	0.69	0.29	13.91	0.00
Issuance (Retirement) of Debt, Net	-27.25	62.19	-17.20	-2.12
Cash from Financing Activities	-38.02	60.40	-4.01	-6.21
Foreign Exchange Effects	0.08	-0.01	-0.01	0.00
Net Change in Cash	-0.73	-2.23	1.31	1.08
Cash Interest Paid, Supplemental	1.90	1.78	0.72	0.86
Cash Taxes Paid, Supplemental	11.51	0.52	-	-

In Millions of CAD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Revenue	348.58	313.17	166.60	111.72
Other Revenue, Total	-	-	-	-
Total Revenue	348.58	313.17	166.60	111.72
Cost of Revenue, Total	257.88	226.03	-	-
Gross Profit	90.69	87.14	166.60	111.72
Selling/General/Admin. Expenses, Total	13.72	11.32	65.89	10.67
Research & Development	-	-	-	-
Depreciation/Amortization	26.32	21.55	12.78	20.16
Interest Expense(Income) - Net Operating	-	-	-	-
Unusual Expense (Income)	2.18	1.62	-	4.11
Other Operating Expenses, Total	4.05	3.20	71.44	92.24
Total Operating Expense	304.13	263.75	150.11	128.41
Operating Income	44.45	49.42	16.49	-16.69
Interest Income(Expense), Net Non-Operating	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-
Other, Net	0.00	-3.02	0.00	-
Income Before Tax	42.29	44.36	15.77	-16.69
Income After Tax	30.76	32.35	11.99	-9.48
Minority Interest	0.45	0.35	0.01	0.00
Equity In Affiliates	-	-	-	-
Net Income Before Extra. Items	31.21	32.70	12.00	-9.48
Accounting Change	-	-	-	-
Discontinued Operations	-	-	-	-
Extraordinary Item	-	-	-	-
Net Income	22.31	31.12	12.00	-9.48
Preferred Dividends	-	-	-	-
Income Available to Common Excl. Extra Items	31.21	32.70	12.00	-9.48
Income Available to Common Incl. Extra Items	22.31	31.12	12.00	-9.48
Basic Weighted Average Shares	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-
Dilution Adjustment	-	-	-	0.00
Diluted Weighted Average Shares	125.22	103.10	69.06	59.85
Diluted EPS Excluding Extraordinary Items	0.25	0.32	0.17	-0.16
Diluted EPS Including Extraordinary Items	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.01	0.00	0.00	0.05
Gross Dividends - Common Stock	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-
Depreciation, Supplemental	-	-	-	-
Total Special Items	-	-	-	-
Normalized Income Before Taxes	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-
Normalized Income After Taxes	-	-	-	-
Normalized Income Avail to Common	-	-	-	-
Basic Normalized EPS	-	-	-	-
Diluted Normalized EPS	0.26	0.33	0.17	-0.11