Oiltanking Partners L.P. (OILT) Wednesday reported fourth-quarter net income of $15 million or $0.38 per unit, an increase of 28% from $11.9 million or $0.30 per unit last year.
Revenues for the quarter were up about 18% at $34 million, compared with $28.9 million a year ago.
Analysts polled by Thomson Reuters estimated earnings of $0.38 per share on revenues of $33.74 million for the quarter. Analysts' estimates typically exclude special items.
"2012 results were driven by records for capacity, traffic at our docks and volumes handled at our facilities," the company said.
The Partnership said its operating income for the quarter improved 34% primarily due to higher storage and throughput volumes that generated increased service fees, and to higher ancillary service fees.
Going forward, the company expects to spend $135 million to $145 million on capital expenditures in 2013.
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