Sunoco Logistics Partners L.P. (SXL) announced that its fourth-quarter Limited Partners' interest in net income was $40.57 million, compared to $64.41 million in the same quarter last year. Net Income per Limited Partner unit was $1.30, compared to $2.23 in the year ago quarter.
Total Revenues for the quarter rose to $1.67 billion, from $1.58 billion in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report revenues of $1.42 billion for the quarter. Analysts' estimates typically exclude special items.
The Partnership, in a joint announcement with Sunoco, Inc., also announced today the completion of a repurchase of the incentive distribution rights (IDRs) held by its general partner, Sunoco Partners LLC, a subsidiary of Sunoco, Inc., in exchange for the issuance of a new class of IDRs and $201.2 million, secured by a promissory note.
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