Quarterly report pursuant to sections 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
REVENUES    
Petrochemical Product Sales $ 62,392 $ 51,620
Processing Fees 1,708 1,125
Total Revenues 64,100 52,745
OPERATING COSTS AND EXPENSES    
Cost of Sales and Processing (including depreciation of $865 and $825, respectively) 55,386 46,066
GROSS PROFIT 8,714 6,679
GENERAL AND ADMINISTRATIVE EXPENSES    
General and Administrative 4,189 3,505
Depreciation 139 129
Total General and Administrative Expenses 4,328 3,634
OPERATING INCOME 4,386 3,045
OTHER INCOME (EXPENSE)    
Interest Income 9 1
Interest Expense (110) (117)
Losses on Cash Flow Hedge Reclassified from OCI (67) (78)
Equity in earnings (losses) of AMAK (350) 2,964
Miscellaneous Expense (45) (18)
Total other income (expenses) (563) 2,752
INCOME BEFORE INCOME TAXES 3,823 5,797
INCOME TAXES 1,224 1,011
NET INCOME 2,599 4,786
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTEREST 0 0
NET INCOME ATTRIBUTABLE TO ARABIAN AMERICAN DEVELOPMENT COMPANY $ 2,599 $ 4,786
Basic Earnings per Common Share    
Net Income Attributable to Arabian American Development Company (in dollars per share) $ 0.11 $ 0.20
Basic Weighted Average Number of Common Shares Outstanding (in shares) 24,151 24,105
Diluted Earnings per Common Share    
Net Income Attributable to Arabian American Development Company (in dollars per share) $ 0.10 $ 0.19
Diluted Weighted Average Number of Common Shares Outstanding (in shares) 24,918 24,658