Suburban Propane Partners Q3 net loss narrows

Tue. August 11, 2009; Posted: 09:08 AM

Aug 11, 2009 (Datamonitor via COMTEX) -- SPH | Quote | Chart | News | PowerRating -- Suburban Propane Partners, a distributor of propane, fuel oil and related products and services, has reported a net loss of $7.4 million, or $0.23 per share, for the third quarter ended June 27, 2009, compared to a net loss of $13.7 million, or $0.42 per share, for the same period of 2008.

The company has reported revenues of $184.37 million for the third quarter ended June 27, 2009, compared to $305.48 million for the same period of 2008.

Suburban Propane Partners has reported a net income of $188.12 million, or $5.73 per share, for the first nine months ended June 27, 2009, compared to $166.2 million, or $5.08 per share, for the corresponding period of 2008.

Year-to-date revenues were $992.91 million, compared to $1.32 billion for the first nine months of 2008.

Mark Alexander, CEO of Suburban Propane Partners, said: "The challenging economy and business environment notwithstanding, we achieved some significant accomplishments during our fiscal 2009 third quarter.

"In addition to reporting an increase in adjusted earnings before interest, taxes, depreciation and amortization of nearly $20 million compared to the prior year third quarter, we successfully refinanced our previous revolving credit facility, which was due to expire in March 2010, with a $250 million, four-year secured credit facility."

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For full details on Suburban Propane Partnr (SPH) click here. Suburban Propane Partnr (SPH) has Short Term PowerRatings of 5. Details on Suburban Propane Partnr (SPH) Short Term PowerRatings is available at This Link.

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