Atlas Pipeline Partners Slips To Loss In Q2

(RTTNews) - Atlas Pipeline Partners, L.P. (APL) Monday reported second quarter net loss attributable to common limited partners and the general partner of $3.8 million or $0.11 per unit, compared to net income of $73.8 million or $1.30 per unit for the year-ago quarter.

Meanwhile, total revenue for the latest second quarter rose to $560.94 million from $324.11 million in the year-ago quarter.

On average, analysts poled by Thomson Reuters expected the company to earn $0.39 per share on revenue of $522.33 million for the second quarter. Analysts' estimates typically exclude special items.

On July 23, 2013, the Partnership declared a distribution for the second quarter of 2013 of $0.62 per common limited partner unit to holders of record on August 7, 2013, which will be paid on August 14, 2013.

The company said this distribution represents Distributable Cash Flow coverage per limited partner unit of about 1.07x on a fully diluted basis for the second quarter of 2013.