Atlas Pipeline Partners, L.P. Reports Earnings for Period Ended March 31, 2000.Business Editors PHILADELPHIA--(BUSINESS WIRE)--May 10, 2000 Atlas Pipeline Partners, L.P. (AMEX AMEX See: American Stock Exchange :APL (A Programming Language) A high-level mathematical programming language noted for its brevity and matrix generation capabilities. Developed by Kenneth Iverson in the mid-1960s, it runs on micros to mainframes and is often used to develop mathematical models. )(the "Partnership") announces that its net income for the period from January 28, 2000 (the commencement of its operations) to March 31, 2000 was $765,600. Net income per limited partner unit - basic and diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. - was $0.24 for this partial first fiscal quarter ended March 31, 2000. Pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma results of operations for a full three-month period ending March 31, 2000 and March 31,1999 would have been net income of $1,143,000 and $1,013,000, respectively, and net income per limited partner unit of $.36 and $.32, respectively. Further, on March 21, 2000, the Partnership declared a cash distribution of $0.29 per limited partner unit. The distribution will be paid on May 10, 2000 to unit holders of record on March 31, 2000. Atlas Pipeline Partners, L.P. owns and operates approximately 890 miles of natural gas gathering pipelines in western Pennsylvania Western Pennsylvania consists of the western third of the state of Pennsylvania in the United States. Pittsburgh is the largest city in the region, with a metropolitan area of about 2.4 million people, and is the cultural center for Western Pennsylvania. , western New York
Western New York refers to the westernmost region of New York State. and eastern Ohio. The Partnership is paid a fee for the natural gas volumes that are gathered and transported through its pipeline system from approximately 3,000 wells that are currently connected to the system. The pro forma results of operations were derived by adjusting the historical financial statements of the gathering operations acquired by the Partnership and should not be construed as indicative of what the Partnership's actual results of operations could have been had the Partnership's acquisition of the gathering systems occurred on January 1, 2000. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion