Lower Revenues, Year-Ago Gain Drop Tulsa-Based Magellan Income 51.5 Pct.
The Journal Record › May 08, 2009
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Summary
A third less revenue combined with a $26.5 million year-ago gain to drop Magellan Midstream Partners' first-quarter net income 51.5 percent.
For the three months ended March 31, the Tulsa petroleum products pipeline operator reported a net income of $45.2 million, or 34 cents per diluted unit, down from $93.3 million, or $1.10, the prior year.See the full content of this document
Extract
Lower Revenues, Year-Ago Gain Drop Tulsa-Based Magellan Income 51.5 Pct.
Factoring out the 2008 one-time gain from a third-party supply agreement would trim Magellan's latest deficit to 32.3 percent.
That tracks Magellan's reve...See the full content of this document
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