MMLP FY 2010 Earnings Report — Martin Midstream Partners L.P. Revenue & Financial Results | Market Cap Arena

Martin Midstream Partners L.P.MMLP

FY 2010 Earnings

Reported March 2, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$912M	—	$662M	—	37.7%
Op. Income	$40M	—	$34M	—	16.7%
Gross Margin	23.9%	—	31.0%	—	-7.0pp
Net Margin	1.8%	—	3.4%	—	-1.6pp
EPS (Diluted)	$0.63	—	$1.17	—	-46.2%
Free Cash Flow	$19M	—	$12M	—	57.7%

Revenue Flow

Item	Amount
REVENUE	$912M
Cost of Revenue	$694M
GROSS PROFIT	$218M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$138M
Other Expenses	$41M
Operating Expenses	$178M
Cost & Expenses	$872M
OPERATING INCOME	$40M
Interest Income	$0
Interest Expense	$27M
Other Income/Expenses	-$24M
INCOME BEFORE TAX	$17M
Income Tax Expense	$517.0K
Net Income from Continuing Ops	$16M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$16M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$11M
D&A	$41M
EBIT	$44M
EBITDA	$85M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$912M
Cost of Revenue	$694M
GROSS PROFIT	$218M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$138M
Other Expenses	$41M
Operating Expenses	$178M
Cost & Expenses	$872M
OPERATING INCOME	$40M
Interest Income	$0
Interest Expense	$27M
Other Income/Expenses	-$24M
INCOME BEFORE TAX	$17M
Income Tax Expense	$517.0K
Net Income from Continuing Ops	$16M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$16M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$11M
D&A	$41M
EBIT	$44M
EBITDA	$85M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$16M
Depreciation & Amortization	$41M
Stock-Based Compensation	$0
Deferred Income Tax	-$415.0K
Other Non-Cash Items	-$4M
Change in Working Capital	-$21M
OPERATING CASH FLOW	$38M
Capital Expenditure	-$19M
Acquisitions (Net)	-$44M
Purchases of Investments	-$20M
Sales/Maturities of Investments	$2M
Other Investing Activities	-$748.0K
NET CASH FROM INVESTING	-$81M
Net Debt Issuance	$54M
Common Stock Repurchased	-$28M
Common Dividends Paid	-$57M
Other Financing Activities	$0
NET CASH FROM FINANCING	$49M
FREE CASH FLOW	$19M
Net Change in Cash	$5M

Balance Sheet

Item	Amount
Cash & Equivalents	$11M
Short-Term Investments	$0
Net Receivables	$111M
Inventory	$53M
Other Current Assets	$20M
TOTAL CURRENT ASSETS	$180M
PP&E (Net)	$432M
Goodwill	$37M
Intangible Assets	$0
Long-Term Investments	$98M
Tax Assets	$8M
Other Non-Current Assets	$30M
TOTAL NON-CURRENT ASSETS	$606M
TOTAL ASSETS	$785M
Account Payables	$112M
Short-Term Debt	$1M
Deferred Revenue	$0
Other Current Liabilities	$282.0K
TOTAL CURRENT LIABILITIES	$124M
Long-Term Debt	$374M
Deferred Revenue NC	$4M
Deferred Tax Liabilities	$8M
Other Non-Current Liabilities	$8M
TOTAL NON-CURRENT LIABILITIES	$386M
TOTAL LIABILITIES	$511M
Common Stock	$0
Additional Paid-In Capital	$0
Retained Earnings	$0
Treasury Stock	$0
Accum. Other Comp. Income	$1M
Other Equity	$145M
TOTAL STOCKHOLDERS' EQUITY	$147M
Minority Interest	$0
TOTAL EQUITY	$147M
TOTAL LIABILITIES & EQUITY	$657M
Total Debt	$374M
Net Debt	$363M