Quarterly report pursuant to Section 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 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
REVENUES        
Petrochemical Product Sales $ 75,283 $ 59,354 $ 210,517 $ 165,737
Processing Fees 1,634 1,516 5,054 3,853
Total Revenues 76,917 60,870 215,571 169,590
OPERATING COSTS AND EXPENSES        
Cost of Sales and Processing (including depreciation of $881, $834, $2,614, and $2,497, respectively) 63,873 50,772 182,112 144,246
GROSS PROFIT 13,044 10,098 33,459 25,344
GENERAL AND ADMINISTRATIVE EXPENSES        
General and Administrative 4,086 3,411 12,430 10,368
Depreciation 131 129 406 389
Total General and Administrative Expenses 4,217 3,540 12,836 10,757
OPERATING INCOME 8,827 6,558 20,623 14,587
OTHER INCOME (EXPENSE)        
Interest Income 8 4 26 5
Interest Expense (70) (141) (169) (379)
Losses on Cash Flow Hedge Reclassified from OCI (60) (73) (190) (231)
Equity in earnings (loss) of AMAK (343) 1,302 (687) 8,998
Miscellaneous Income (Expense) 2 (57) (47) (146)
Total other income (expenses) (463) 1,035 (1,067) 8,247
INCOME BEFORE INCOME TAXES 8,364 7,593 19,556 22,834
INCOME TAXES 2,590 2,372 6,183 6,519
NET INCOME 5,774 5,221 13,373 16,315
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTEREST 0 0 0 0
NET INCOME ATTRIBUTABLE TO TRECORA RESOURCES $ 5,774 $ 5,221 $ 13,373 $ 16,315
Basic Earnings per Common Share        
Net Income Attributable to Trecora Resources (dollars) $ 0.24 $ 0.22 $ 0.55 $ 0.68
Basic Weighted Average Number of Common Shares Outstanding (in shares) 24,175 24,116 24,163 24,110
Diluted Earnings per Common Share        
Net Income Attributable to Trecora Resources (dollars) $ 0.23 $ 0.21 $ 0.54 $ 0.66
Diluted Weighted Average Number of Common Shares Outstanding (in shares) 24,880 24,782 24,870 24,697