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Exterran Holdings Reports Fourth-Quarter And Full-Year 2012 Results

Net income from continuing operations attributable to Exterran stockholders for the fourth quarter 2012 was $6.0 million, or $0.09 per diluted share, excluding pretax charges totaling $48.4 million, comprised primarily of non-cash long-lived asset impairment charges of $47.6 million related to our contract water treatment business. Net income from continuing operations attributable to Exterran stockholders, excluding charges, for the third quarter 2012 was $1.4 million, or $0.02 per diluted share, and net loss from continuing operations attributable to Exterran stockholders, excluding charges, for the fourth quarter 2011 was $9.8 million, or $0.16 per diluted share. Net income from continuing operations attributable to Exterran stockholders, excluding pretax charges, also excludes the benefit of the two previously announced sales of Exterran Holdings’ Venezuelan assets.

Net loss attributable to Exterran stockholders for the fourth quarter 2012 was $5.7 million, or $0.09 per diluted share, compared to net income attributable to Exterran stockholders for the third quarter 2012 of $113.4 million, or $1.74 per diluted share, and a net loss attributable to Exterran stockholders for the fourth quarter 2011 of $66.6 million, or $1.06 per diluted share.

Net loss from continuing operations attributable to Exterran stockholders for 2012 was $50.7 million, or $0.80 per diluted share, excluding pretax charges totaling $190.1 million, comprised primarily of non-cash long-lived asset impairment charges of $183.4 million related primarily to our U.S. fleet and contract water treatment business, and the benefit of the sale of our Venezuelan assets. Net loss from continuing operations attributable to Exterran stockholders, excluding charges, for 2011 was $89.9 million, or $1.44 per diluted share.

Net loss attributable to Exterran stockholders for 2012 was $39.5 million, or $0.62 per diluted share, compared to a net loss attributable to Exterran stockholders for 2011 of $340.6 million, or $5.44 per diluted share.

The cash distribution received by Exterran Holdings based upon its limited partner and general partner interests in Exterran Partners was $8.1 million for the fourth quarter 2012, compared to $7.9 million for the third quarter 2012 and $7.4 million for the fourth quarter 2011.

Stock quotes in this article: EXH 

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