This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Saratoga Resources, Inc. Reports Fourth Quarter And 2011 Financial Results, Increased Reserves And New Production Milestone

Discretionary Cash Flow is a supplemental financial measure used by the company’s management and by securities analysts, investors, lenders, rating agencies and others who follow the industry as an indicator of the company’s ability to internally fund exploration and development activities. Discretionary cash flow should not be considered as a substitute for net income, operating income, cash flows from operating activities or any other measure of financial performance or liquidity presented in accordance with generally accepted accounting principles (“GAAP”). Discretionary cash flow excludes some, but not all, items that affect net income and operating income and these measures may vary among other companies. Therefore, the company’s Discretionary Cash Flow may not be comparable to similarly titled measures used by other companies.

The table below reconciles the most directly comparable GAAP financial measure to Discretionary Cash Flow.

 

Reconciliation of Net Income (Loss) to Discretionary Cash Flow

 
  For the Three Months Ended December 31,     For the Year Ended December 31,
2011   2010 2011   2010
 
Net income (loss) as reported $ 11,482,185 $ (1,720,554 ) $ 20,845,941 $ (19,441,528 )
 
Exploration expense 23,018 473,608 596,065 1,921,943
Loss on plugging and abandonment - - 393,599 -
Dry hole costs 124,882 - 3,912,823 -
Depreciation, depletion and amortization 3,213,959 4,201,758 15,591,048 16,001,826
Impairment expense 641,791 - 641,791 -
Accretion expense 424,422 392,634 1,672,900 1,668,268
Gain on revision of asset retirement obligations (303,633 ) - (303,633 ) -
Stock-based compensation 149,824 447,227 943,119 2,570,144
Loss on settlement of accounts payable - - - 990,786
Debt issuance and discount 293,568 762,382 2,211,954 2,918,246
Income tax provision (benefit) (6,747,749 ) (24,528 ) (6,839,117 ) -
Gain on extinguishment of debt - - (7,708,486 ) -
Unrealized derivative (income) expenses - - - (435,049 )
Hurricane costs - - - -
Other development expenditures - - - -
Other income – prior acquisition adj.   (1,426,779 )   -     (1,426,779 )   -  
 
Discretionary Cash Flow $ 7,875,488   $ 4,532,527   $ 30,531,225   $ 6,194,636  
 

EBITDAX is a non-GAAP financial measure.

7 of 9

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs