Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF INCOME

v3.3.1.900
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenues      
Petrochemical and product sales $ 227,937 $ 280,866 $ 230,643
Processing 14,039 8,777 5,584
Total Revenues 241,976 289,643 236,227
Operating costs and expenses      
Cost of petrochemical, product sales, and Processing (including depreciation and amortization of $8,335, $5,116, and $3,518, respectively) 182,607 243,900 201,064
Gross Profit 59,369 45,743 35,163
General and Administrative Expenses      
General and administrative 22,603 19,701 14,672
Depreciation 725 560 521
Total General and Administrative Expenses 23,328 20,261 15,193
Operating income 36,041 25,482 19,970
Other income (expense)      
Interest expense (2,217) (1,042) (520)
Losses on cash flow hedge reclassified from OCI 0 (378) (301)
Equity in earnings (loss) of AMAK (Note 10) (5,325) (1,072) 4,703
Gain from additional equity issuance by AMAK (Note 10) 0 0 3,997
Miscellaneous expense (137) (272) (204)
Total other income (expenses) (7,679) (2,764) 7,675
Income before income tax expense 28,362 22,718 27,645
Income tax expense 9,764 7,147 8,147
Net income 18,598 15,571 19,498
Net loss attributable to Noncontrolling Interest 0 0 0
Net income attributable to Trecora Resources $ 18,598 $ 15,571 $ 19,498
Net income per common share      
Basic earnings per share (in dollars per share) $ 0.76 $ 0.64 $ 0.81
Diluted earnings per share (in dollars per share) $ 0.74 $ 0.63 $ 0.79
Weighted average number of common shares outstanding      
Basic (in shares) 24,370 24,188 24,115
Diluted (in shares) 25,181 24,896 24,745