WASHINGTON (dpa-AFX) - Alliance Resource Partners L.P. (ARLP) reported that its first-quarter limited partners' interest in net income was $57.38 million or $1.54 per unit, down from $74.38 million or $1.99 per unit in the same quarter last year.
Total revenues for the quarter rose to $443.59 million from $423.26 million in the prior year quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $1.69 per share on revenues of $478.76 million for the quarter. Analysts' estimates typically exclude special items.
ARLP also announced that the Board of Directors of its managing general partner increased the cash distribution to unitholders for the 2012 Quarter to $1.025 per unit (an annualized rate of $4.10 per unit), payable on May 15, 2012 to all unitholders of record as of the close of trading on May 8, 2012. The announced distribution represents a 15.2% increase over the cash distribution of $0.89 per unit for the 2011 Quarter and a 3.5% increase over the cash distribution of $0.99 per unit for the 2011 fourth quarter.
ARLP currently anticipates 2012 coal production in a range of 35.2 to 36.4 million tons. Coal sales volumes are now estimated in a range of 35.6 to 36.9 million tons, of which approximately 98.0% is contractually committed and priced.
For 2012, ARLP adjusted its anticipate ranges for consolidated EBITDA to $585.0 million to $615.0 million and net income to $345.0 million to $385.0 million.
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© 2012 AFX News
