Smart Sand, Inc. (SND) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

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Smart Sand, Inc.
Ticker: SND CIK: 1529628

Smart Sand, Inc. Announces Fourth Quarter and Full Year 2016 Results

4Q 2016 revenues of $29.4 million increased 170% sequentially

4Q 2016 tons sold totaled approximately 274,500 an increase of 19% sequentially

4Q and Full year 2016 Net Income of $12.4 million and $10.4 million, respectively

4Q Adjusted EBITDA of $26.9 million increased 145% sequentially

Full year 2016 Adjusted EBITDA of $37.8 million

THE WOODLANDS, Texas, March 16, 2017 – Smart Sand, Inc. (NASDAQ: SND) (the “Company”), a pure-play, low-cost producer of high quality Northern White raw frac sand, today announced results for the fourth quarter and full year ended December 31, 2016.

“2016 was a transformational year for Smart Sand,” stated Charles Young, Chief Executive Officer. “We were able to deliver improving sand sales volumes each quarter along with positive Net Income and EBITDA in a difficult operating environment for our industry for much of the year. Additionally, we completed our initial public offering in November 2016 and a successful follow on equity offering in February 2017. We are now essentially debt free, with the exception of a small amount of capital leases and notes payable, and have approximately $70 million in cash available to support growth initiatives. Market demand for raw frac sand has started out strong in 2017, especially for finer mesh grades, and we expect this trend to continue. With our reserve mix of approximately 81% finer mesh sand grades and our strong balance sheet, we are well positioned to take advantage of the expected growth in raw frac sand demand in 2017 and going forward.”

Full Year 2016 Highlights

Revenues were $59.2 million for the full year 2016, compared with $47.7 million for the full year 2015, a 24% increase year over year.

Overall tons sold were approximately 826,400 in the full year 2016, compared with approximately 750,700 tons sold in the full year 2015, a 10% increase year over year.

Net income was $10.4 million, or $0.43 per basic and $0.42 per diluted share, for the full year 2016, compared with net income of $5.0 million, or $0.23 per basic and $0.19 per diluted share, for the full year 2015, an increase of 108% year over year.

Adjusted EBITDA was $37.8 million for the full year 2016 compared to Adjusted EBITDA of $23.9 million for the full year 2015, an increase of 58% year over year.

Fourth Quarter 2016 Highlights

Revenues were $29.5 million in the fourth quarter of 2016, compared with $15.2 million during the fourth quarter of 2015, a 94% increase year over year. Fourth quarter 2016 revenue increased by 170% compared to third quarter 2016 revenue of $10.9 million.

Overall tons sold were approximately 274,500 in the fourth quarter of 2016, compared with approximately 107,200 tons sold in the fourth quarter of 2015 and 229,700 tons for the third quarter of 2016, increases of 156% and 19%, respectively.

The Company generated net income of $12.5 million, or $0.40 per basic and diluted share, for the fourth quarter of 2016, compared with a net loss of $(0.0) million, or $(0.01) per basic and diluted share, for

The following information was filed by Smart Sand, Inc. (SND) on Thursday, March 16, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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