(RTTNews) -  Monday, Quicksilver Gas Services LP. (KGS: News ), gathering and processing services provider, said its third quarter earnings increased from a year ago, coming in ahead of Street estimates, on higher revenues.

The Fort Worth, Texas-based company's third-quarter net income rose to $8.65 million or $0.31 per share from $6.39 million or $0.26 per share in the year-ago quarter. On average, four analysts polled by Thomson Reuters expected the company to earn $0.28 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter grew to $24.30 million from $19.30 million in the comparable period. Three analysts estimated revenues of $24.15 million for the quarter.

The company said it increased average gathered volumes to approximately 234 MMcf per day, up 10% versus the prior-year quarter.

Toby Darden, president and chief executive officer, said, "Quicksilver Gas Services continues to grow by all measures and is increasing liquidity in order to capitalize on opportunities created by the current macro-economic environment."
Year-to-date, the company had net income of $25.5 million or $1.03 per share, up from $14.88 million or $0.61 per share in the corresponding period last year.

Revenues for the nine-month period advanced to $72.99 million from $52.69 million last year.

KGS is trading at $19.35, up $0.21 or 1.10%, on a volume of about 21 thousand shares.

To receive FREE breaking news email alerts for quicksilver gas services lp and others in your portfolio

by RTT Staff Writer

For comments and feedback: contact editorial@rttnews.com