Atlas Pipeline Partners, L.P. Reports Fourth Quarter and Full Year 2010 Results

PHILADELPHIA--(BUSINESS WIRE)--Atlas Pipeline Partners, L.P. (NYSE: APL) (“APL”, “Atlas Pipeline”, or the “Partnership”) today reported adjusted earnings before interest, income taxes, depreciation and amortization (“Adjusted EBITDA”), a non-GAAP measure, of $42.9 million in the fourth quarter of 2010, a decrease of 3%, as compared to $44.3 million in the fourth quarter of 2009. Adjusted EBITDA for the fourth quarter of 2009 includes $9.7 million related to Elk City, which was sold in September 2010. Excluding Elk City’s contribution to 2009 fourth quarter results, Adjusted EBITDA increased 24% versus same period last year. Excluding the historical impact of Elk City, Adjusted EBITDA was higher for the quarter and full year 2010 compared to last year’s fourth quarter and 2009 full year primarily due to higher realized natural gas liquids (“NGL”) and condensate prices as well as approximately 12% gathered volume growth across the existing business. Net loss was $10.6 million for the fourth quarter of 2010 compared with a net loss of $35.1 million for the prior year fourth quarter.