Atlas Pipeline Partners, L.P. Reports Record Third Quarter 2005 Results and Declares Record Distribution of $0.81 Per Common Unit.

Business Wire › October 27, 2005

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Atlas Pipeline Partners, L.P. Reports Record Third Quarter 2005 Results and Declares Record Distribution of $0.81 Per Common Unit.

PHILADELPHIA -- Atlas Pipeline Partners, L.P. (NYSE:APL) (the "Partnership") today reported earnings before interest, taxes, depreciation and amortization ("EBITDA"), a non-GAAP measure, of $13.7 million for the third quarter 2005 compared with $4.1 million for the prior year third quarter, an increase of $9.6 million or 235%. Net income for the third quarter 2005 was $7.1 million, or $0.48 per limited partner unit, compared with $2.0 million for the third quarter 2004, or $0.09 per limited partner unit. The period over period increase in EBITDA was principally related to contribution from the ETC Oklahoma Pipeline, Ltd. ("Elk City") acquisition, which was acquired in April 2005, and continued growth in the Partnership's Mid-Continent and Appalachian operations. The increase in quarterly net income was also attributable to $3.0 million of costs incurred in the third quarter 2004 in connection with the Par...

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