Vanguard Natural Resources, LLC
Period Ending Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010
Total Revenue 454,504 347,202 319,577 93,154
Cost of Revenue 105,502 74,366 63,944 18,471
Gross Profit 349,002 272,836 255,633 74,683
Operating Expenses
Research and Development - - - -
Sales, General and Admin. 66,372 51,835 48,400 16,974
Non-Recurring Items - 247,722 - -
Other 167,535 104,542 84,857 22,231
Operating Income 115,095 (131,263) 122,376 35,478
Income From Continuing Operations
Add'l Income/Expense Items 5,564 4,339 (5,252) (7,827)
Earnings Before Interest and Tax 120,659 (126,924) 117,124 27,651
Interest Expense 61,148 41,891 28,994 5,766
Earnings Before Tax 59,511 (168,815) 88,130 21,885
Income Tax - - - -
Minority Interest - - 26,067 -
Equity Earnings Unconsolidated Subsidiary - - - -
Net Income Cont. Operations 59,511 (168,815) 62,063 21,885
Non Recurring Events
Discontinued Operations - - - -
Extraordinary Items - - - -
Effect of Accounting Changes - - - -
Other Items - - - -
Net Income 59,511 (168,815) 62,063 21,885
Preferred Stock and Other Adjustments (2,634) - - -
Net Income Applicable to Common Shareholders 56,877 (168,815) 62,063 21,885