Atlas Resource Partners Q4 Loss Widens; Revenue Rises; Reaffirms FY14 View

(RTTNews) - Atlas Resource Partners, L.P. (ARP) posted fourth quarter net loss attributable to common limited partners and the general partner was $44.4 million, wider than the $20.75 million in the prior year. Loss attributable to common limited partners per unit widened to $0.77 from $0.53 last year.

Adjusted EBITDA, a non-GAAP measure, including discretionary adjustments by Board of the General Partner, was $62.6 million, higher than the $31.8 million for the prior year comparable quarter.

Distributable Cash Flow with discretionary adjustments by the Board of the General Partner, a non-GAAP measure, was $41.0 million or $0.58 per common unit, compared to $27.5 million for the prior year comparable quarter.

Total revenues for the quarter surged to $181.2 million from $84.74 million in the prior year. On average, three analysts polled by Thomson Reuters expected the company to report revenue of $162.8 million for the quarter. Analysts' estimates typically exclude special items.

Total costs and expenses rose to $210.06 million from $102.02 million last year.

The company declared a cash distribution of $0.58 per limited partner unit for the fourth quarter 2013, a 21% increase from the prior year, which will be payable on February 14, to holders of record as of February 6, 2014. The company introduced its new monthly distribution policy, declaring an initial distribution of $0.1933 per common unit for the month of January 2014

Looking ahead, the company reaffirmed guidance in the range of $2.40 to $2.60 per common unit for full year 2014.