Exterran Partners, L.P. (NASDAQ: EXLP) today reported EBITDA, as further adjusted (as defined below), of $71.1 million for the second quarter 2013, compared to $52.4 million for the first quarter 2013 and $45.0 million for the second quarter 2012. Distributable cash flow (as defined below) was $44.7 million for the second quarter 2013, compared to $37.1 million for the first quarter 2013 and $27.3 million for the second quarter 2012.
Revenue was $125.5 million for the second quarter 2013, compared to $106.1 million for the first quarter 2013 and $97.2 million for the second quarter 2012.
Net income was $27.9 million, or $0.52 per diluted limited partner unit, for the second quarter 2013, compared to net income of $14.7 million, or $0.31 per diluted limited partner unit, for the first quarter 2013, and a net loss of $19.1 million, or $0.47 per diluted limited partner unit, for the second quarter 2012.
“Second-quarter 2013 highlights included a record quarterly level of distributable cash flow. Our results benefitted from the compression assets we acquired from Exterran Holdings on March 31, 2013, as well as the implementation of performance improvement initiatives. In addition, a customer’s exercise of purchase options on two natural gas processing plants increased our EBITDA, as further adjusted, by $13.3 million and our distributable cash flow by $6.5 million,” said Brad Childers, Chairman, President and Chief Executive Officer of Exterran Partners’ managing general partner.For the second quarter 2013, Exterran Partners’ quarterly cash distribution was $0.5225 per limited partner unit, or $2.09 per limited partner unit on an annualized basis. The second-quarter 2013 distribution was $0.005 higher than the first-quarter 2013 distribution of $0.5175 per limited partner unit and $0.02 higher than the second-quarter 2012 distribution of $0.5025 per limited partner unit. Conference Call Details Exterran Partners and Exterran Holdings, Inc. will host a joint conference call on Tuesday, Aug. 6, 2013, to discuss their second-quarter 2013 financial results. The call will begin at 11:00 a.m. Eastern Time.
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