SemGroup Energy Partners, L.P. Announces First-Quarter 2008 Earnings
SemGroup Energy Partners, L.P. (NASDAQ: SGLP) today announced net income of $9.8 million, or $0.31 per basic and diluted common unit, on total revenues of $40.2 million, for the first quarter ended March 31, 2008. These results compare to pre-IPO predecessor results of a net loss of $12.3 million on revenues of $8.6 million for the quarter ended March 31, 2007. The predecessor did not record any revenue associated with the gathering and transportation and terminalling and storage services provided on an intercompany basis, but did recognize the costs of providing such services.
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