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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 Eleventh Consecutive Year of Record Financial Results With Net Income Up 21.3% for the 2011 Year; Increases Quarterly Unitholder Distribution 3.7% to $0.99 Per Unit; and Provides Guidance for Additional Growth in 2012
TULSA, OKLAHOMA, January 27, 2012 Alliance Resource Partners, L.P. (NASDAQ: ARLP) today reported that it achieved record financial results for the eleventh consecutive year, with records for revenues, EBITDA, net income and net income per basic and diluted limited partner unit for the year ended December 31, 2011 (the 2011 Period). Revenues for the 2011 Period climbed to $1.8 billion, an increase of 14.5% compared to the year ended December 31, 2010 (the 2010 Period). Increased revenues contributed to higher EBITDA, up 14.3% to $570.8 million, net income, which jumped 21.3% to $389.4 million, and net income per basic and diluted limited partner unit, which rose 21.7% to $8.13 per unit. (For a discussion of EBITDA and related reconciliations to comparable GAAP financial measures, please see the end of this release.)
For the quarter ended December 31, 2011 (the 2011 Quarter), revenues increased 13.4% to $474.6 million, compared to the quarter ended December 31, 2010 (the 2010 Quarter). Net income and net income per basic and diluted limited partner unit were also higher in the 2011 Quarter, as net income increased 5.0% to $91.7 million and net income per basic and diluted limited partner unit climbed 6.0% to $1.93 per unit. EBITDA for the 2011 Quarter decreased slightly by 2.3% to $129.2 million.
ARLP also announced that the Board of Directors of its managing general partner increased the cash distribution to unitholders for the fifteenth consecutive quarter. The distribution for the 2011 Quarter rose to $0.99 per unit (an annualized rate of $3.96 per unit), payable on February 14, 2012 to all unitholders of record as of the close of trading on February 7, 2012. The announced distribution represents a 15.1% increase over the cash distribution of $0.86 for the 2010 Quarter and a 3.7% increase over the cash distribution of $0.955 for the 2011 third quarter (the Sequential Quarter).
The Alliance team again delivered exceptional results in 2011 as ARLP set new records for all major operating and financial measures. This marks our eleventh consecutive year of record results, said Joseph W. Craft III, President and Chief Executive Officer. Looking ahead, we remain encouraged that our strategy of expanding ARLPs presence as a low cost operator in the growing Illinois Basin and Northern Appalachia coal markets will create opportunities for continued growth in the future. Our record setting results and outlook for the future led our Board
The following information was filed by Alliance Resource Partners Lp (ARLP) on Friday, January 27, 2012 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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