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Alliance Resource Partners LP Management Discusses Q2 2012 Results - Earnings Call Transcript

While these forward-looking statements are based on information currently available to the partnerships and those of their general partners and management, if one or more of these risks or uncertainties materialize, or if our underlying assumptions prove incorrect, actual results for the partnerships may vary materially from those we projected or expected. In providing these remarks, neither ARLP nor AHGP, has any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Finally, we'll also be discussing certain non-GAAP financial measures. Definitions and reconciliations of the differences between these non-GAAP financial measures and the most directly comparable GAAP financial measure are contained at the end of the ARLP press release, which has been posted on ARLP's website and furnished to the SEC on Form 8-K.

Now that we're through with the required preliminaries, I'll start this morning with a review of the partnerships' operating and financial results for the 2012 quarter-end period, then turn the call over to Joe Craft, our President and Chief Executive Officer.

As noted in our release earlier this morning, ARLP once again posted strong results for both the 2012 quarter and year-to-date. Looking first at the top line, ARLP posted record revenues in the 2012 quarter at $529.9 million, an increase of 15.7% compared to the 2011 quarter, and $973.5 million for the first half of 2012 or 10.5% higher than the 2011 period. Growth in coal sales revenues during the 2012 quarter was led by record coal sales pricing and volumes. Improved contract price realizations in the Illinois Basin and increased sales from Northern Appalachia and to the higher price metallurgical export markets grow total average coal sales prices higher in the 2012 quarter to a record $59.17 per ton sold, an increase of 5.5% compared to the 2011 quarter. Higher Illinois Basin sales volumes from the Warrior and newly acquired Onton mine, and in Northern Appalachia, from the startup of longwall production at Tunnel Ridge, as well as increased brokerage sales volumes, push coal sales volumes up 9.8% compared to the 2011 quarter to a record 8.7 million tons.

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