Willbros Group, Inc.\NEW\

Delisted

CIK 0001449732AcceleratedOil & Gas Field Services, NecDelawareFY ends Dec 31

Period

FY 2017

Revenue

—

Net Income

$-108.09M

Total Assets

$363.88M

Equity

$31.71M

Shares Out

63.22M

Op. Cash Flow

$-51.47M

Business

Willbros Group, Inc.\NEW\ is a former operating company in Oil & Gas Field Services, incorporated in Delaware. Securities are no longer actively traded on a major U.S. exchange.

Auto-generated from company profile

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2017 2017-12-31	FY 2016 2016-12-31	FY 2015 2015-12-31	FY 2014 2014-12-31	FY 2013 2013-12-31
Contract revenue	850	732	909	1,594	1,495
Contract costs	875	685	868	1,498	1,360
Contract income (loss)	−25	46	41	—	—
Amortization of intangibles	10	10	10	10	10
General and administrative	55	61	77	109	122
Gain on sale of subsidiary	0	0	−13	0	0
Other charges	2	6	18	7	0
Operating loss	−91	−31	−52	−28	3
Interest expense	−16	−14	−27	−31	−31
Interest income	31,000	451,000	51,000	438,000	—
Debt covenant suspension and extinguishment charges	0	−63,000	−39	−15	−12
Other, net	−296,000	−63,000	−101,000	−397,000	−733,000
Total other income (expense)	−16	−14	−66	−46	−44
Loss from continuing operations before income taxes	−108	−44	−119	−74	−41
Benefit for income taxes	−1	−500,000	−54	229,000	−4
Loss from continuing operations	−107	−44	−65	−75	−37
Income (loss) from discontinued operations, net of provision for income taxes	−1	−4	96	−5	21
Net income (loss)	−108	−48	31	−80	−16
Loss from continuing operations (in dollar per share)	−1.72	−0.71	−1.12	−1.51	−0.76
Income (loss) from discontinued operations (in dollar per share)	−0.02	−0.06	1.66	−0.11	0.44
Net income (loss) (in dollar per share)	−1.74	−0.77	0.54	−1.62	−0.32
Loss from continuing operations (in dollar per share)	−1.72	−0.71	−1.12	−1.51	−0.76
Income (loss) from discontinued operations (in dollar per share)	−0.02	−0.06	1.66	−0.11	0.44
Net income (loss) (in dollar per share)	−1.74	−0.77	0.54	−1.62	−0.32
Basic (in shares)	62	61	58	49	49
Diluted (in shares)	62	61	58	49	49

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2017 2017-12-31	FY 2016 2016-12-31	FY 2015 2015-12-31	FY 2014 2014-12-31	FY 2013 2013-12-31
Cash and cash equivalents	33	41	59	23	42
Accounts receivable, net	142	112	150	267	366
Contract cost and recognized income not yet billed	14	12	20	31	55
Prepaid expenses and other current assets	21	18	20	19	25
Parts and supplies inventories	1	800,000	1	1	4
Assets held for sale	2	9	4	0	—
Assets associated with discontinued operations	324,000	505,000	1	145	—
Total current assets	214	194	255	492	603
Property, plant and equipment, net	30	38	50	86	106
Intangible assets, net	67	77	87	97	107
Restricted cash	40	40	35	0	—
Deferred income taxes	0	315,000	0	—	—
Other long-term assets	13	13	14	17	34
Total assets	364	363	442	692	871
Accounts payable and accrued liabilities	138	83	108	169	251
Contract billings in excess of cost and recognized income	18	5	10	15	26
Current maturities of long-term debt	105	0	—	—	—
Short-term borrowings under revolving credit facility	28	0	—	—	—
Accrued income taxes	310,000	311,000	3	2	10
Other current liabilities	6	6	7	7	6
Total current liabilities	298	105	135	265	355
Long-term debt obligations	0	89	92	267	268
Long-term liabilities for unrecognized tax benefits	603,000	0	0	117,000	5
Other long-term liabilities	33	33	36	39	44
Long-term liabilities associated with discontinued operations	893,000	995,000	1	0	—
Total liabilities	332	228	264	578	682
Contingencies and commitments (Note 15)	—	—	—	—	—
Preferred stock, par value $.01 per share, 1,000,000 shares authorized, none issued	0	0	0	0	0
Common stock, par value $.05 per share, 105,000,000 shares authorized and 65,598,065 shares issued at December 31, 2017 (64,679,896 at December 31, 2016)	3	3	3	3	3
Additional paid-in capital	752	749	745	704	691
Accumulated deficit	−706	−598	−550	−582	−502
Treasury stock at cost, 2,361,343 shares at December 31, 2017 (2,025,208 at December 31, 2016)	−16	−15	−15	−14	−12
Accumulated other comprehensive loss	−2	−4	−6	3	9
Total stockholders equity	32	135	177	114	189
Total liabilities and stockholders equity	364	363	442	692	871

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2017 2017-12-31	FY 2016 2016-12-31	FY 2015 2015-12-31	FY 2014 2014-12-31	FY 2013 2013-12-31
Depreciation and amortization	19	22	27	32	34
Stock-based compensation	3	4	7	12	6
Provision (benefit) for deferred income taxes	326,000	−176,000	−413,000	829,000	447,000
Amortization of debt issue costs	2	1	573,000	846,000	4
Non-cash interest expense	2	2	0	1	2
(Gain) loss on disposal of equipment	−3	−3	1	−5	−3
Impairment of intangible assets	0	0	534,000	0	—
Provision for bad debt	887,000	284,000	3	3	1
Accounts receivable, net	−30	21	105	24	−17
Contract cost and recognized income not yet billed	−2	8	10	16	29
Prepaid expenses and other current assets	−2	1	−433,000	−699,000	10
Accounts payable and accrued liabilities	53	−21	−57	−42	−43
Accrued income taxes	−1,000	−3	715,000	−7	2
Contract billings in excess of cost and recognized income	13	−506,000	−5	1	−20
Assets held for sale	7	0	0	—	—
Liabilities held for sale	−7	0	0	—	—
Other assets and liabilities, net	1	−1	−7	2	7
Cash provided by (used in) operating activities of continuing operations	−50	−12	46	−22	−12
Cash used in operating activities of discontinued operations	−2	−8	−50	−38	14
Cash used in operating activities	−51	−20	−4	−60	2
Proceeds from sale of property, plant and equipment	4	7	12	6	3
Proceeds from sale of subsidiaries	950,000	13	236	48	39
Purchases of property, plant and equipment	−2	−4	−3	−12	−12
Changes in restricted cash	−161,000	−5	−35	0	0
Cash provided by investing activities of continuing operations	3	11	210	42	29
Cash used in investing activities of discontinued operations	0	0	−590,000	−3	−3
Cash provided by investing activities	3	11	210	39	26
Proceeds from term loan issuance	15	0	0	270	250
Proceeds from revolver and notes payable	29	0	30	55	67
Payments on capital leases	0	−469,000	−915,000	−846,000	−1
Payments on revolver and notes payable	−1	0	−30	−75	−161
Payments on term loan facility	0	−3	−175	−249	−190
Payments to reacquire common stock	−565,000	−406,000	−899,000	−2	−676,000
Cost of debt issuance	−2	−5	−804,000	−1	−5
Cash provided by (used in) financing activities of continuing operations	40	−9	−177	−3	−44
Cash provided by financing activities of discontinued operations	0	0	11	4	7
Cash provided by (used in) financing activities	40	−9	−167	2	−38
Effect of exchange rate changes on cash and cash equivalents	823,000	−29,000	−3	−1	−2
Cash provided by (used in) all activities	−8	−17	36	−20	−11
Cash paid for interest (including discontinued operations)	11	9	28	27	27
Cash paid for income taxes (including discontinued operations)	993,000	3	3	19	13
Capital expenditure included in accounts payable and accrued liabilities	283,000	171,000	163,000	685,000	815,000

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro