Martin sulfur services sales up, income off

Kilgore, Texas-Martin Midstream Partner LP’s sulfur segment, which includes both fertilizer and sulfur, reported an operating loss of $773,000 on sales of $36.6 million for the third quarter ending Sept. 30, 2010, down from the year-ago income of $792,000 and sales of $15.1 million. Sales were up due to a 106 percent increase in average sales prices, as well as an 18 percent increase in sales volumes. Nine-month income was $6.9 million on sales of $113.9 million compared to the year-ago $7.1 million and sales of $61 million. Company-wide, Martin reported net income of $4.6 million ($.19 per unit) on sales of $195.4 million, up from the year-ago $4.3 million ($.26 per unit) on sales of $159.3 million. Nine-month net income was $9.5 million ($.33 per share) on sales of $650 million, versus the year-ago $20.2 million ($1.02 per share) and $461.5 million.

Volumes (000 lt) 3Q-10 3Q-09 YTD-10 YTD-09
Sulfur 326 296.1 910.7 835.4
Fertilizer 60.7 32.6 201.4 130.3
Total 386.7 328.7 1,112.1 956.7