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Martin Midstream Partners Reports 2012 Quarterly Financial Results By Reportable Business Segment

The Martin Midstream Partners L.P. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=14989

Forward-Looking Statements

Statements about the Partnership's outlook and all other statements in this release other than historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements and all references to financial estimates rely on a number of assumptions concerning future events and are subject to a number of uncertainties and other factors, many of which are outside its control, which could cause actual results to differ materially from such statements. While the Partnership believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in anticipating or predicting certain important factors. A discussion of these factors, including risks and uncertainties, is set forth in the Partnership's annual and quarterly reports filed from time to time with the SEC. The Partnership disclaims any intention or obligation to revise any forward-looking statements, including financial estimates, whether as a result of new information, future events, or otherwise.

Additional information concerning the Partnership is available on the Partnership's website at www.martinmidstream.com .

 
MARTIN MIDSTREAM PARTNERS L.P.
SEGMENT OPERATING INCOME
(Dollars in thousands)
           
           
Terminalling and Storage Segment          
  First Quarter Second Quarter Third Quarter Fourth Quarter For the Year Ended December 31, 2012
  (In thousands)
Revenues:          
Services $21,361 $22,222 $25,066 $26,246 $94,895
Products 60,616 60,175 56,779 49,710 227,280
Total revenues 81,977 82,397 81,845 75,956 322,175
           
Cost of products sold 53,287 53,857 51,457 44,365 202,966
Operating expenses 14,923 15,053 15,612 17,911 63,499
Selling, general and administrative expenses 1,376 1,088 1,434 773 4,671
Depreciation and amortization 4,976 5,223 5,829 6,948 22,976
  7,415 7,176 7,513 5,959 28,063
Other operating income (loss) 20 375 (514) (119)
Operating income $7,435 $7,551 $7,513 $5,445 $27,944
           
Natural Gas Services Segment          
  First Quarter Second Quarter Third Quarter Fourth Quarter For the Year Ended December 31, 2012
  (In thousands)
Revenues $172,111 $164,817 $190,738 $297,840 $825,506
Cost of products sold 167,576 163,427 186,080 286,112 803,195
Operating expenses 952 804 847 947 3,550
Selling, general and administrative expenses 597 859 786 1,994 4,236
Depreciation and amortization 143 144 149 165 601
Operating income (loss) $2,843 $(417) $2,876 $8,622 $13,924
           
NGLs Volumes (Bbls) 2,297 2,436 3,092 4,255 12,080
           
Sulfur Services Segment          
  First Quarter Second Quarter Third Quarter Fourth Quarter For the Year Ended December 31, 2012
  (In thousands)
Revenues:          
Services $2,926 $2,925 $2,926 $2,925 $11,702
Products 71,626 64,168 57,670 56,418 249,882
Total revenues 74,552 67,093 60,596 59,343 261,584
           
Cost of products sold 55,051 47,440 47,362 45,461 195,314
Operating expenses 4,193 4,614 4,357 4,240 17,404
Selling, general and administrative expenses 955 982 1,008 1,030 3,975
Depreciation and amortization 1,793 1,782 1,750 2,046 7,371
  12,560 12,275 6,119 6,566 37,520
Other operating income (loss) (25) 3 (5) (231) (258)
Operating income $12,535 $12,278 $6,114 $6,335 $37,262
           
Sulfur (long tons) 308.2 328.0 225.6 204.3 1,066.1
Fertilizer (long tons) 93.9 83.6 61.2 67.4 306.1
Sulfur services volumes (long tons) 402.1 411.6 286.8 271.7 1,372.2
           
Marine Transportation Segment          
  First Quarter Second Quarter Third Quarter Fourth Quarter For the Year Ended December 31, 2012
  (In thousands)
Revenues $21,567 $21,466 $22,879 $22,903 $88,815
Operating expenses 18,714 16,033 18,026 17,569 70,342
Selling, general and administrative expenses 424 362 580 (800) 566
Depreciation and amortization 3,041 2,921 2,564 2,589 11,115
  (612) 2,150 1,709 3,545 6,792
Other operating loss (41) (41)
Operating income (loss) $(612) $2,150 $1,709 $3,504 $6,751
CONTACT: Robert D. Bondurant
         Executive Vice President and Chief Financial Officer
         Martin Midstream GP LLC
         (903) 983-6200

Martin Midstream Partners L.P. logo

Stock quotes in this article: MMLP 

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