RESTATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (Tables)

6 Months Ended

Jun. 30, 2016

RESTATEMENT OF FINANCIAL STATEMENTS [Abstract]

Effects of the Restatement

The effects of the restatement are as follows:

	June 30, 2016
	(unaudited)
	As Reported		As Restated
	(thousands of dollars)
Consolidated Balance Sheets
Investment in AMAK	$	54,865	$	52,047
Total Assets		279,652		276,834
Deferred Income Taxes		23,856		22,870
Total Liabilities		116,673		115,687
Retained Earnings		108,326		106,494
Total Trecora Resources Stockholders’ Equity		162,690		160,858
Total Equity		162,979		161,147
Total Liabilities and Equity		279,652		276,834

	Three Months Ended June 30, 2016					Six Months Ended June 30, 2016
	(unaudited)
	As Reported		As Restated			As Reported		As Restated
	(thousands of dollars)
Consolidated Statements of Income
Equity in earnings (loss) of AMAK	$	1,801	$	(1,017	)	$	7,168	$	4,350
Total other income (expense)		12,866		10,048			17,592		14,774
Income before income taxes		18,762		15,944			29,633		26,815
Income tax expense		6,678		5,692			10,325		9,339
Net income attributable to Trecora Resources		12,084		10,252			19,308		17,476
Basic earnings per common share (dollars)	$	0.49	$	0.42		$	0.79	$	0.72
Diluted earnings per common share (dollars)	$	0.48	$	0.41		$	0.77	$	0.70

	June 30, 2016
	(unaudited)
	As Reported		As Restated
	(thousands of dollars)
Consolidated Statement of Stockholders’ Equity
Net Income	$	19,308	$	17,476
Retained Earnings		108,326		106,494
Total		162,690		160,858
Total Equity		162,979		161,147

Consolidated Statements of Cash Flows
Operating Activities
Net income	$	19,308		$	17,476
Deferred income taxes		7,462			6,476
Equity in (earnings) loss of AMAK		(7,168	)		(4,350	)