Kilgore, Texas — Martin Midstream Partners LP saw a 42 percent increase in operating income from its Sulfur Services segment for the third quarter ending Sept. 30, 2012, to $6.1 million on revenues of $60.6 million, versus the year-ago $4.3 million and $70.2 million, respectively. The unit, which includes both fertilizer and sulfur, saw an uptick in fertilizer volumes to 61,200 lt from the year-ago 54,200 lt, while sulfur volumes were off at 225,600 lt from 310,200 lt. Company-wide, Martin saw a whopping increase in third-quarter net income to $72.4 million on revenue of $317.9 million, versus the year-ago $5.4 million and $287.6 million, respectively. However, this was mainly due to the sale of Prism, which included East Texas and Northwest Louisiana gas gathering and processing assets and netted some $63.6 million. Minus that, income from continuing operations was $8.8 million versus the year-ago $3.1 million. Nine-month Sulfur Services income was $30.9 million on revenues of $202.2 million, versus the year-ago $22.4 million and $206.9 million, respectively. Fertilizer volumes were 238,700 lt, up from 201,200 lt, while sulfur were down at 861,800 lt from 998,700 lt. Martin-wide nine-month net income was $90.1 million on revenues of $920.2 million, versus the year-ago $21.5 million and $800.6 million, respectively. Income from continuing operations was $22.8 million versus $13.8 million.
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