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Dejour Energy Reports Q3 2012 Revenue Of $1.55 Million

Stocks in this article: DEJ

Selected Financial Highlights (See “Non-GAAP Measures” section below for explanations)

Operating Cash Flow

 

Three months endedSeptember 30,

 

Nine months endedSeptember 30,

  2012   2011 2012   2011
$ $ $ $
Cash flows from (used in) operating activities - GAAP (422,000) 602,000 (2,268,000) (690,000)
Add: changes in non-cash operating working capital (329,000) 80,000 554,000 619,000
Operating Cash Flow - Non-GAAP (751,000) 682,000 (1,714,000) (71,000)

Operating Netback

 

Three months endedSeptember 30,

 

Nine months endedSeptember 30,

  2012   2011 2012   2011
$ $ $ $
Gross Revenues 1,552,000 2,947,000 5,251,000 6,347,000
Less: Royalties (234,000) (614,000) (855,000) (1,199,000)
Less: Operating and transportation (1,209,000) (664,000) (3,001,000) (1,642,000)
Operating Netback – Non-GAAP 109,000 1,669,000 1,395,000 3,506,000

Operating Loss

 

Three months endedSeptember 30,

 

Nine months endedSeptember 30,

  2012   2011 2012   2011
$ $ $ $
Net loss (1,365,000) (346,000) (2,299,000) (2,614,000)
Add back (losses) and deduct gains:
Impairment losses 9,000 841,000 18,000 1,036,000
Change in fair value of warrant liability (16,000) (543,000) (1,807,000) (464,000)
Operating Loss – Non-GAAP (1,372,000) (48,000) (4,088,000) (2,042,000)

EBITDA

 

Three months endedSeptember 30,

 

Nine months endedSeptember 30,

  2012   2011 2012   2011
$ $ $ $
Net loss (1,365,000) (346,000) (2,299,000) (2,614,000)
Deferred tax recovery - - - (187,000)
Finance costs 67,000 270,000 400,000 795,000
Amortization, depletion and impairment losses 597,000 1,417,000 1,984,000 2,633,000
EBITDA – Non-GAAP (701,000) 1,341,000 85,000 627,000

Adjusted EBITDA

 

Three months ended June 30,

  Six months ended June 30,
  2012   2011 2012   2011
$ $ $ $
EBITDA (701,000) 1,341,000 85,000 627,000
Adjustments:
Stock-based compensation 26,000 150,000 393,000 549,000
Change in fair value of warrant liability (16,000) (543,000) (1,807,000) (464,000)
Adjusted EBITDA – Non-GAAP (691,000) 948,000 (1,329,000) 712,000

Non-GAAP Measures: This news release contains references to non-GAAP measures as follows:

Operating Cash Flow is a non-GAAP measure defined as cash flow from operating activities before changes in non-cash operating working capital items.

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