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|Brian L. Cantrell|
|Alliance Resource Partners, L.P.|
|1717 South Boulder Avenue, Suite 400|
|Tulsa, Oklahoma 74119|
FOR IMMEDIATE RELEASE
ALLIANCE RESOURCE PARTNERS, L.P.
Reports Record Annual Financial Results, Including 43.2% Increase to 2009 Net Income, and Strong Quarterly Financial Results, with Net Income Up 65.8% in the 2009 Fourth Quarter; Increases Quarterly Cash Distribution 2.0% to $0.775 Per Unit; and Provides Guidance for Continued Growth in 2010
TULSA, OKLAHOMA, January 27, 2010 Alliance Resource Partners, L.P. (NASDAQ: ARLP) today reported records for revenues, EBITDA and net income for the year ended December 31, 2009 (the 2009 Period). Revenues for the 2009 Period rose 6.4% to a record $1.23 billion, compared to the year ended December 31, 2008 (the 2008 Period). EBITDA and net income also reached record levels in the 2009 Period, as EBITDA increased 32.0% to $340.4 million and net income jumped 43.2% to $192.2 million, or $3.56 of net income per basic and diluted limited partner unit, both as compared to the 2008 Period. (For a discussion of our net income presentation and a definition of EBITDA and related reconciliations to comparable GAAP financial measures, please see the end of this release.)
ARLP also announced that, for the seventh consecutive quarter, the Board of Directors of its managing general partner increased the cash distribution to unitholders for the quarter ended December 31, 2009 (the 2009 Quarter) to $0.775 per unit (an annualized rate of $3.10 per unit), payable on February 12, 2010 to all unitholders of record as of the close of trading on February 5, 2010. The announced distribution represents an 8.4% increase over the cash distribution of $0.715 for the quarter ended December 31, 2008 (the 2008 Quarter) and a 2.0% increase over the cash distribution of $0.76 for the 2009 third quarter.
For the ninth consecutive year, ARLP posted new records for revenues, EBITDA and net income all against a backdrop of unprecedented economic decline and turmoil in the coal markets, said Joseph W. Craft III, President and Chief Executive Officer. I congratulate our organization for not only responding to the challenges we faced by delivering outstanding results in 2009, but also for positioning ARLP for future growth by strengthening our customer base and long-term sales contract position, reducing costs, bringing our new River View mine into production and progressing with development of our Tunnel Ridge mine. As demonstrated by these efforts, we remain focused on achieving ARLPs primary goal of creating opportunities for sustainable growth in cash flow to provide strong distribution growth to our unitholders in the future.
The following information was filed by Alliance Resource Partners Lp (ARLP) on Wednesday, January 27, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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