Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues      
Revenues $ 287,932 $ 245,143 $ 212,399
Operating costs and expenses      
Cost of specialty petrochemical, product sales, and processing (including depreciation and amortization of $13,618, $10,089, and $9,016, respectively) 260,114 203,582 172,497
Gross Profit 27,818 41,561 39,902
General and Administrative Expenses      
General and administrative 22,396 22,587 20,434
Restructuring and severance (Note 21) 2,347 0 0
Depreciation 740 872 761
Total General and Administrative Expenses 25,483 23,459 21,195
Operating income (loss) 2,335 18,102 18,707
Other income (expense)      
Interest expense (4,100) (2,931) (1,985)
Loss on extinguishment of debt (315) 0 0
Bargain purchase gain from acquisition (Note 3) 0 0 11,549
Equity in losses of AMAK (Note 10) (901) (4,261) (1,479)
Gain from additional equity issuance by AMAK (Note 10) 0 0 3,168
Miscellaneous expense (158) (60) (28)
Total other income (expense) (5,474) (7,252) 11,225
Income (loss) before income tax expense (3,139) 10,850 29,932
Income tax benefit (expense) 807 7,159 (10,504)
Net income (loss) attributable to Trecora Resources $ (2,332) $ 18,009 $ 19,428
Net income (loss) per common share      
Basic earnings (loss) per share (in dollars per share) $ (0.10) $ 0.74 $ 0.80
Diluted earnings (loss) per share (in dollars per share) $ (0.10) $ 0.72 $ 0.78
Weighted average number of common shares outstanding      
Basic (in shares) 24,438 24,294 24,284
Diluted (in shares) 24,438 25,129 24,982
Specialty petrochemical and product sales      
Revenues      
Revenues $ 269,780 $ 227,334 $ 193,581
Processing fees      
Revenues      
Revenues $ 18,152 $ 17,809 $ 18,818