Crestwood Midstream Partners LP (CMLP) Tuesday reoported fourth-quarter profit of $4.86 million, down from $12.34 million in the comparable quarter last year.
General partner's interest in earnings was $4.13 million, compared to $2.79 million last year.
Limited partners' interest plunged to $0.73 million or $0.01 per share from $9.55 million or $0.24 per share last year.
Adjusted earnings for the period was $119.3 million or $0.03 per share. On average, seven analysts polled by Thomson Reuters expecetd the company to earn $0.25 per share for the quarter. Analysts' estimates typically exclude special items.
Operating revenues totaled $56.99 million, down from $59.29 million last year. Analysts expected revenues of $61.76 million.
Looking ahead to the fiscal year 2013, the company expects adjusted EBITDA in a range of $170 million to $185 million.
by RTT Staff Writer
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