F inancial Results Conference Call
Management will review the Partnership’s fourth-quarter and year-end 2012 financial results in a teleconference call for analysts and investors today.
|Time:||10:00 a.m. ET|
|Dial-in numbers:||(877) 709-8155 (U.S. and Canada)|
|(201) 689-8881 (International)|
The call also will be webcast live and archived on Global’s website, www.globalp.com.
Use of Non-GAAP Financial MeasuresNet Product Margin Global Partners views net product margin as an important performance measure of the core profitability of its operations. The Partnership reviews net product margin monthly for consistency and trend analysis. Global Partners defines net product margin as sales minus product costs. Sales primarily include sales of unbranded and branded gasoline, distillates, residual oil, renewable fuels, crude oil and natural gas, as well as convenience store sales and gasoline station rental income. Product costs include the cost of acquiring the refined petroleum products, renewable fuels, crude oil and natural gas and all associated costs including shipping and handling costs to bring such products to the point of sale as well as product costs related to convenience store items. The Partnership also looks at net product margin on a per unit basis (net product margin divided by volume). Net product margin is a non-GAAP financial measure used by management and external users of Global Partners' consolidated financial statements to assess the Partnership’s business. Net product margin should not be considered an alternative to net income, operating income, cash flow from operations, or any other measure of financial performance presented in accordance with GAAP. In addition, Global Partners’ net product margin may not be comparable to net product margin or a similarly titled measure of other companies.