SAN FRANCISCO (Thomson Financial) - MarkWest Energy Partners LP late Monday
reported first-quarter net earnings of $19.2 million, or 54 cents a unit, above
the mean 49-cent estimate of analysts polled by Thomson Reuters.
Net income in the prior-year period was $957,000, or 4 cents a unit.
The financial statements for all prior periods reflect the redemption and
merger with MarkWest Hydrocarbon that closed on Feb. 21, the Denver-based energy
company said. Net income for first quarter 2008 and first quarter 2007, includes
$600,000 and $25.4 million, respectively, of non-cash costs associated with the
mark-to-market of derivative instruments and compensation expense, MarkWest
Energy Partners said.
Revenue for the quarter ended March 31 rose to $238.8 million from $177.7
million a year earlier, versus the mean Street view of $178 million.
The stock fell 4 cents to close at $36.33.
Brigid Gaffikin
bg/gm
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