MMLP FY 2008 Earnings Report — Martin Midstream Partners L.P. Revenue & Financial Results | Market Cap Arena

Martin Midstream Partners L.P.MMLP

FY 2008 Earnings

Reported March 4, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$1.2B	—	$766M	—	58.5%
Op. Income	$50M	—	$29M	—	71.7%
Gross Margin	16.5%	—	19.2%	—	-2.7pp
Net Margin	3.5%	—	3.3%	—	0.3pp
EPS (Diluted)	$2.72	—	$1.67	—	62.9%
Free Cash Flow	-$15M	—	-$24M	—	37.6%

Revenue Flow

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$1.0B
GROSS PROFIT	$200M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$17M
Other Expenses	$134M
Operating Expenses	$151M
Cost & Expenses	$1.2B
OPERATING INCOME	$50M
Interest Income	$0
Interest Expense	$20M
Other Income/Expenses	-$9M
INCOME BEFORE TAX	$44M
Income Tax Expense	$711.0K
Net Income from Continuing Ops	$44M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$43M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$40M
D&A	$31M
EBIT	$63M
EBITDA	$95M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$1.0B
GROSS PROFIT	$200M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$17M
Other Expenses	$134M
Operating Expenses	$151M
Cost & Expenses	$1.2B
OPERATING INCOME	$50M
Interest Income	$0
Interest Expense	$20M
Other Income/Expenses	-$9M
INCOME BEFORE TAX	$44M
Income Tax Expense	$711.0K
Net Income from Continuing Ops	$44M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$43M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$40M
D&A	$31M
EBIT	$63M
EBITDA	$95M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$43M
Depreciation & Amortization	$31M
Stock-Based Compensation	$0
Deferred Income Tax	-$277.0K
Other Non-Cash Items	-$2M
Change in Working Capital	$11M
OPERATING CASH FLOW	$80M
Capital Expenditure	-$95M
Acquisitions (Net)	-$5M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$457.0K
NET CASH FROM INVESTING	-$100M
Net Debt Issuance	$70M
Common Stock Repurchased	-$93.0K
Common Dividends Paid	-$46M
Other Financing Activities	-$18.0K
NET CASH FROM FINANCING	$24M
FREE CASH FLOW	-$15M
Net Change in Cash	$4M

Balance Sheet

Item	Amount
Cash & Equivalents	$8M
Short-Term Investments	$0
Net Receivables	$68M
Inventory	$42M
Other Current Assets	$12M
TOTAL CURRENT ASSETS	$131M
PP&E (Net)	$412M
Goodwill	$37M
Intangible Assets	$0
Long-Term Investments	$80M
Tax Assets	$9M
Other Non-Current Assets	$263.0K
TOTAL NON-CURRENT ASSETS	$538M
TOTAL ASSETS	$669M
Account Payables	$112M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$6M
TOTAL CURRENT LIABILITIES	$125M
Long-Term Debt	$295M
Deferred Revenue NC	$4M
Deferred Tax Liabilities	$9M
Other Non-Current Liabilities	$2M
TOTAL NON-CURRENT LIABILITIES	$310M
TOTAL LIABILITIES	$434M
Common Stock	$0
Additional Paid-In Capital	$0
Retained Earnings	$0
Treasury Stock	$0
Accum. Other Comp. Income	-$5M
Other Equity	-$235M
TOTAL STOCKHOLDERS' EQUITY	-$240M
Minority Interest	$0
TOTAL EQUITY	-$240M
TOTAL LIABILITIES & EQUITY	$669M
Total Debt	$295M
Net Debt	$287M