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KILGORE, Texas, Feb. 28, 2013 (GLOBE NEWSWIRE) -- Martin Midstream Partners L.P. (Nasdaq:MMLP) (the "Partnership") announced today its quarterly financial results for the year ended December 31, 2012 by reportable business segment.
The Partnership evaluates segment performance on the basis of operating income, which is derived by subtracting cost of products sold, operating expenses, selling, general and administrative expenses, and depreciation and amortization expense from revenues. The following tables furnished below set forth the Partnership's operating results by segment for each quarter of the year ended December 31, 2012.
The Partnership acquired certain specialty lubricant product packaging assets from Martin Resource Management in October 2012. The acquisitions of these assets were considered a transfer of net assets between entities under common control. The acquisition of the assets was recorded at amounts based on the historical carrying value of the assets at that date, and we have retrospectively updated our quarterly segment financial information below to reflect the effects on operating results attributable to the activities of the assets as if we owned the assets from January 1, 2012 through September 30, 2012. The historical results of these assets are included in the terminalling and storage segment information below.
Additionally, the natural gas services segment information below excludes the discontinued operations our natural gas gathering assets.
Included with this press release is the Partnership's quarterly financial information for the year ended December 31, 2012 by reportable business segment. This quarterly financial information should be read in conjunction with the information contained in the Partnership's Annual Report on Form 10-K, to be filed with the SEC on March 4, 2013.
Investors' Conference Call
An investors' conference call to review the fourth quarter and fiscal year results will be held on Thursday, February 28, 2013, at 8:00 a.m. Central Time. The conference call can be accessed by calling (877) 878-2695. An audio replay of the conference call will be available by calling (855) 859-2056 from 11:00 a.m. Central Time on February 28, 2013 through 10:59 p.m. Central Time on March 7, 2013. The access code for the conference call and the audio replay is Conference ID No. 93672427. The audio replay of the conference call will also be archived on Martin Midstream Partners' website at
www.martinmidstream.com .About Martin Midstream Partners
Martin Midstream Partners L.P. is a publicly traded limited partnership with a diverse set of operations focused primarily in the United States Gulf Coast region. The Partnership's primary business lines include: terminalling, storage, processing and packaging services for petroleum products and by-products; natural gas liquids storage, marketing and distribution services and natural gas storage; sulfur and sulfur-based products processing, manufacturing, marketing and distribution; and marine transportation services for petroleum products and by-products.