Regency Energy Reports Q1 Net Income of $10.3 Million
Posted on: Tuesday, 13 May 2008, 06:00 CDT
Regency Energy Partners, a midstream energy company, has reported net income of $10.3 million for the first quarter of 2008, compared to a loss of $1.3 million for the same period in 2007.
The company reported revenues of $405.2 million for the three months ended March 31, 2008, a 58% increase compared to $256.4 million for the same period of 2007.
Adjusted total segment margin increased by 113% to $94.7 million in the first quarter of 2008, compared to $44.5 million for the corresponding period of 2007. Adjusted EBITDA increased 109% to $56 million for the first quarter of 2008, compared to $26.8 million in the same quarter of 2007.
Byron Kelley, chairman, president and CEO of Regency, said: "For the first quarter 2008, Regency delivered impressive operations and better-than-expected financial results. During the quarter, we acquired FrontStreet Hugoton, CDM Resource Management and Nexus Gas Holdings, and saw a partial quarter contribution from the CDM and Nexus acquisitions."
Source: Datamonitor
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