Exhibit 99.1
     
(CRESTWOOD LOGO)   News Release
  CRESTWOOD MIDSTREAM PARTNERS LP
  717 Texas Avenue, Suite 3150
  Houston, TX 77002
    www.crestwoodlp.com
 
Crestwood Midstream Partners LP Announces
Fourth Quarter and Year End 2010 Results
and
Acquisition of Natural Gas Gathering Systems in the
Avalon Shale Play in Southeastern New Mexico
HOUSTON, TEXAS, February 22, 2011 —
Crestwood Midstream Partners LP (NYSE:CMLP) (“Crestwood LP” or “the Partnership”) reported today its fourth quarter and year end 2010 financial results.
Fourth Quarter and Year Ended Summary Results
                                 
    Three Months Ended   Year Ended
    December 31,   December 31,
(in thousands, except as noted)   2010   2009   2010   2009
 
Net income
  $ 6,339     $ 8,951     $ 34,872     $ 32,499  
Adjusted net income
  $ 14,215     $ 8,951     $ 42,748     $ 32,499  
 
                               
Net income per unit (diluted basis)
  $ 0.18     $ 0.32     $ 1.03     $ 1.18  
Adjusted net income per unit
(diluted basis)
  $ 0.43     $ 0.32     $ 1.28     $ 1.18  
 
                               
Adjusted EBITDA
  $ 22,341     $ 16,816     $ 76,549     $ 64,238  
Adjusted distributable cash flow
  $ 17,527     $ 13,749     $ 63,301     $ 51,260  
Volumes gathered (MMcf)
    36,520       27,161       125,317       93,955  
Volumes processed (MMcf)
    11,584       12,428       46,660       54,386  
Net income for the fourth quarter and year ended December 31, 2010 included $7.9 million of non-recurring expenses related to the acquisition of the Partnership by Crestwood Holdings Partners LLC (“Crestwood”) that closed on October 1, 2010. These expenses were comprised of$3.6 million of equity compensation expense due to accelerated vesting of equity awards triggered by the change of control, $2.7 million of post transaction, transition and integration costs and $1.6 million of non-cash interest expense to write-off debt issuance costs on a previous credit facility that was terminated at the closing of the acquisition. The above table is adjusted for the impact of these items on the key financial metrics to improve comparability with the prior year periods.
Adjusted net income, adjusted net income per unit, adjusted earnings before interest, income taxes, depreciation and accretion (“EBITDA”)and adjusted distributable cash flow are non-
-more-

 


The following information was filed by Crestwood Midstream Partners Lp (CMLP) on Tuesday, February 22, 2011 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.

View differences made from one year to another to evaluate Crestwood Midstream Partners Lp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Crestwood Midstream Partners Lp.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account