| Income Statement for Parallel Petroleum Corp. (PLLL) | | | | | | | Income | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Operating Revenue | 116,031 | 97,025 | 66,150 | 35,837 | 33,855 | | Adjustments to Revenue | 4,336 | - | - | - | - | | Cost of Revenue | (22,200) | (22,396) | (14,049) | (9,481) | (8,404) | | Gross Operating Profit | 89,495 | 74,629 | 52,101 | 26,356 | 25,451 | | | Selling/General/Admin Expense | (10,415) | (9,523) | (6,712) | (5,378) | (4,344) | | Research & Development | - | - | - | - | - | | EBITDA | 79,080 | 65,106 | 45,389 | 20,978 | 21,107 | | Depreciation & Amortization | (30,115) | (24,687) | (12,044) | (8,712) | (8,390) | | EBIT | 48,965 | 40,419 | 33,345 | 12,266 | 12,717 | | Interest Income | 197 | 158 | 167 | 189 | 116 | | Other Income, Net | (36,894) | 3,239 | (31,908) | (1,269) | (90) | | Total Income Avail For Interest Expense | 11,197 | 52,409 | 1,515 | 11,186 | 12,743 | | Interest Expense | (19,177) | (12,360) | (4,780) | (2,732) | (2,048) | | Pre-Tax Income | (7,980) | 40,049 | (3,265) | 8,454 | 10,695 | | Income Taxes | 3,319 | (13,894) | 1,676 | (2,869) | (3,031) | | Minority Interest | - | - | - | - | - | | Net Income from Continuing Operations | (4,661) | 26,155 | (1,589) | 5,585 | 7,664 | | Net Income from Discontinued Operations | - | - | - | - | - | | Net Income from Total Operations | (4,661) | 26,155 | (1,589) | 5,585 | 7,664 | | | Normalized Income | (3,901) | 26,155 | (1,500) | 5,585 | 7,664 | | Extraordinary Income | - | - | - | - | - | | Special Income/Charges | (760) | - | (89) | - | - | | Income from Cum. Effect of Acct Change | - | - | - | - | (62) | | Income from Tax Loss Carryforward | - | - | - | - | - | | Other Gains | - | - | - | - | - | | Total Net Income | (4,661) | 26,155 | (1,589) | 5,585 | 7,602 | | | Results | in Dollars (Preferred Dividends in Thousands) | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Dividends Paid Per Share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Preferred Dividends | - | - | 271 | 572 | 580 | | | Basic EPS from Continuing Operations | -0.12 | 0.73 | -0.06 | 0.20 | 0.33 | | Basic EPS from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Basic EPS from Total Operations | -0.12 | 0.73 | -0.06 | 0.20 | 0.33 | | | Diluted EPS from Continuing Operations | -0.12 | 0.71 | -0.06 | 0.20 | 0.31 | | Diluted EPS from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Diluted EPS from Total Operations | -0.12 | 0.71 | -0.06 | 0.20 | 0.31 | | | |
