Kilgore, Texas-Martin Midstream Partners LP (MMLP) reported net income of $5.5 million ($.35 per lp unit) on revenues of $184.8 million for the third quarter ending Sept. 30, 2007, compared to the year-ago $4.3 million ($.32 per unit) and $147.5 million, respectively. Nine-month net income was $17.2 million ($1.17 per unit) on sales of $503 million, versus the year-ago $13.9 million ($1.05 per unit) and $427.4 million. Third-quarter sulfur revenues were $19.6 million, up from the year-ago $13.7 million, while nine-month revenues were $51.7 million versus $46.7 million. Third-quarter fertilizer sales were $10.2 million, up from the year-ago $9.2 million, while nine-month sales were $37.9 million, up from $33.3 million. MMLP particularly noted fertilizer, natural gas services, and marine transportation sectors as having performed well. Despite some initial operational delays with the third quarter startup of the new sulfuric acid plant, MMLP said it has been running the plant at full capacity for over 30 days and expects to realize its first full quarter of benefit from sulfuric acid operations in the fourth quarter.
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