MMLP FY 2011 Earnings Report — Martin Midstream Partners L.P. Revenue & Financial Results | Market Cap Arena

Martin Midstream Partners L.P.MMLP

FY 2011 Earnings

Reported March 5, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$1.2B	—	$912M	—	35.6%
Op. Income	$40M	—	$40M	—	-1.2%
Gross Margin	19.9%	—	23.9%	—	-4.0pp
Net Margin	2.0%	—	1.8%	—	0.2pp
EPS (Diluted)	$0.92	—	$0.63	—	46.0%
Free Cash Flow	$11M	—	$19M	—	-41.8%

Revenue Flow

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$991M
GROSS PROFIT	$246M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$163M
Other Expenses	$44M
Operating Expenses	$206M
Cost & Expenses	$1.2B
OPERATING INCOME	$40M
Interest Income	$0
Interest Expense	$25M
Other Income/Expenses	-$22M
INCOME BEFORE TAX	$25M
Income Tax Expense	$585.0K
Net Income from Continuing Ops	$24M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$24M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$18M
D&A	$45M
EBIT	$49M
EBITDA	$94M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$991M
GROSS PROFIT	$246M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$163M
Other Expenses	$44M
Operating Expenses	$206M
Cost & Expenses	$1.2B
OPERATING INCOME	$40M
Interest Income	$0
Interest Expense	$25M
Other Income/Expenses	-$22M
INCOME BEFORE TAX	$25M
Income Tax Expense	$585.0K
Net Income from Continuing Ops	$24M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$24M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$18M
D&A	$45M
EBIT	$49M
EBITDA	$94M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$24M
Depreciation & Amortization	$45M
Stock-Based Compensation	$0
Deferred Income Tax	-$157.0K
Other Non-Cash Items	$397.0K
Change in Working Capital	$9M
OPERATING CASH FLOW	$87M
Capital Expenditure	-$76M
Acquisitions (Net)	-$14M
Purchases of Investments	-$59M
Sales/Maturities of Investments	$1M
Other Investing Activities	-$19M
NET CASH FROM INVESTING	-$167M
Net Debt Issuance	$86M
Common Stock Repurchased	-$582.0K
Common Dividends Paid	-$64M
Other Financing Activities	-$23M
NET CASH FROM FINANCING	$69M
FREE CASH FLOW	$11M
Net Change in Cash	-$11M

Balance Sheet

Item	Amount
Cash & Equivalents	$266.0K
Short-Term Investments	$0
Net Receivables	$167M
Inventory	$78M
Other Current Assets	$26M
TOTAL CURRENT ASSETS	$231M
PP&E (Net)	$477M
Goodwill	$37M
Intangible Assets	$0
Long-Term Investments	$170M
Tax Assets	$8M
Other Non-Current Assets	$25M
TOTAL NON-CURRENT ASSETS	$718M
TOTAL ASSETS	$949M
Account Payables	$182M
Short-Term Debt	$1M
Deferred Revenue	$0
Other Current Liabilities	$330.0K
TOTAL CURRENT LIABILITIES	$195M
Long-Term Debt	$461M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$8M
Other Non-Current Liabilities	$8M
TOTAL NON-CURRENT LIABILITIES	$468M
TOTAL LIABILITIES	$663M
Common Stock	$0
Additional Paid-In Capital	$0
Retained Earnings	$0
Treasury Stock	$0
Accum. Other Comp. Income	$626.0K
Other Equity	$89M
TOTAL STOCKHOLDERS' EQUITY	$90M
Minority Interest	$0
TOTAL EQUITY	$90M
TOTAL LIABILITIES & EQUITY	$753M
Total Debt	$460M
Net Debt	$460M