LEVITTOWN, Pa., March 15, 2013 (GLOBE NEWSWIRE) -- StoneMor Partners L.P. (NYSE:STON) announced its results of operations for the three months and year ended December 31, 2012. Investors are encouraged to read the Company's annual report on Form 10-K to be filed with the SEC which contains additional details as well as financial tables and can be found at www.stonemor.com .
- Revenues (GAAP) improved from $228.4 million in 2011 to $242.6 million in 2012, a 6% increase.
- Production based revenue (non-GAAP) increased from $280.6 million in 2011 to $296.3 million in 2012, a 6% increase.
- Operating profits (GAAP) increased 41% to $13.8 million in 2012 as compared to $9.8 million in the 2011 year.
- Adjusted operating profits (non-GAAP) increased 11% to $53.8 million in 2012 from $48.6 million in 2011.
- Operating cash flows (GAAP) provided in the 12 months ended December 31, 2012 increased to $31.9 million from $5.5 million provided by operations in 2011, a 480% increase.
- Distributable free cash flow (non-GAAP) for 2012 was $53.3 million compared to $49.3 million for the same period last year, an 8% increase.
- Distributable cash available during the period (non-GAAP) exceeded distributions by $17.9 million for the year ended December 31, 2012, versus $12.2 million in 2011, a 47% increase.
- Net loss (GAAP) narrowed 69% to $3.0 million from a net loss of $9.7 million in the prior year period.