Exterran Partners Reports Fourth-Quarter And Full-Year 2012 Results
Exterran Partners, L.P. (NASDAQ: EXLP) today reported EBITDA, as further adjusted (as defined below), of $48.9 million for the fourth quarter 2012, compared to $46.2 million for the third quarter 2012 and $37.5 million for the fourth quarter 2011. Distributable cash flow (as defined below) was $34.2 million for the fourth quarter 2012, compared to $29.5 million for the third quarter 2012 and $24.5 million for the fourth quarter 2011.
Revenue was $102.3 million for the fourth quarter 2012, compared to $99.3 million for the third quarter 2012 and $83.3 million for the fourth quarter 2011.
Net income was $14.7 million for the fourth quarter 2012, or $0.31 per diluted limited partner unit, compared to net income of $10.4 million, or $0.21 per diluted limited partner unit, for the third quarter 2012, and net income of $4.5 million, or $0.10 per diluted limited partner unit, for the fourth quarter 2011.
EBITDA, as further adjusted, was $180.0 million for 2012, compared to $139.3 million for 2011. Distributable cash flow totaled $118.0 million for 2012, compared to $90.3 million in 2011.
Revenue was $387.5 million for 2012, compared to $308.3 million for 2011. Net income for 2012 was $10.5 million, or $0.14 per diluted limited partner unit, compared to net income of $6.1 million, or $0.09 per diluted limited partner unit, for 2011. “In 2012, we continued to grow the Partnership through the execution of our drop-down strategy with Exterran Holdings. We also invested in new fleet units to modernize and position our fleet for growth. Additionally, we benefitted from the implementation of performance improvement initiatives by Exterran Holdings,” said Brad Childers, Chairman, President and Chief Executive Officer of Exterran Partners’ managing general partner. “In the fourth quarter, Exterran Partners reported its second consecutive quarter of solid organic growth, as operating horsepower increased by 50,000. Distributable cash flow increased by 16% compared to the third quarter 2012, to a quarterly record of $34.2 million.Select the service that is right for you!
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