Alliance Resource Partners, L.P. (NASDAQ: ARLP) today reported record operating and financial results for the twelfth consecutive year, as it set new benchmarks for coal sales and production volumes, revenues and EBITDA for the year ended December 31, 2012 (the "2012 Period"). Led by record coal sales volumes and pricing, revenues climbed to $2.0 billion for the 2012 Period, an increase of 10.3% compared to the year ended December 31, 2011 (the "2011 Period"). Increased revenues and record coal production contributed to higher EBITDA, which climbed to a record $581.1 million compared to $570.8 million for the 2011 Period. Net income for the 2012 Period was $335.6 million, or $6.12 per basic and diluted limited partner unit, compared to $389.4 million, or $8.13 per basic and diluted limited partner unit, for the 2011 Period. The decrease in net income for the 2012 Period is primarily due to increased depreciation, depletion and amortization as a result of our growth projects. (For a discussion of EBITDA and related reconciliations to comparable GAAP financial measures, please see the end of this release.)
For the quarter ended December 31, 2012 (the "2012 Quarter"), revenues increased 15.8% to $549.4 million, compared to the quarter ended December 31, 2011 (the "2011 Quarter "). Net income and EBITDA were also higher in the 2012 Quarter, as net income increased 5.4% to $96.6 million and EBITDA increased 28.9% to $166.5 million. Although net income for the 2012 Quarter increased, net income per basic and diluted limited partner unit decreased to $1.87 per unit in the 2012 Quarter compared to $1.93 per unit for the 2011 Quarter as a result of increased incentive distributions paid to our managing general partner.
ARLP also announced that the Board of Directors of its managing general partner increased the cash distribution to unitholders for the 2012 Quarter to $1.1075 per unit (an annualized rate of $4.43 per unit), payable on February 14, 2013 to all unitholders of record as of the close of trading on February 7, 2013. The announced distribution represents a 11.9% increase over the cash distribution of $0.99 per unit for the 2011 Quarter and a 2.1% increase over the cash distribution of $1.085 per unit for the 2012 third quarter (the "Sequential Quarter").