Share “Oklahoma business briefs, Jan. 30”

Oklahoma business briefs, Jan. 30

Oklahoma business briefs, Jan. 30
Published: January 30, 2013



Alliance Resource Partners LP on Tuesday reported its net income rose more than 5 percent in the fourth quarter to $96.6 million, or $1.87 a unit. Net income per unit was down from $1.93 a unit in the same period of last year, when Alliance earned $91.7 million, because of increased incentive distributions. Alliance's revenues hit a record $2 billion in 2002 — the 12th straight year it achieved a benchmark. “ARLP enters 2013 poised to post our 13th consecutive year of record results,” CEO Joseph W. Craft III said. “Coal sales and production volumes are expected to increase year-over-year as we benefit from a full year of production from the Onton mine and the continued ramp-up of longwall production at Tunnel Ridge.”


Alliance Holdings GP LP will pay a quarterly cash distribution of 74 cents a unit for the fourth quarter. The distribution is based on proceeds from the partnership's ownership interests in Alliance Resource Partners LP. The partnership reported net income of $52.9 million, or 88 cents a unit, for the quarter, up from $52.1 million, or 87 cents a share.

From Staff Reports