EX-99.1 3 h05837exv99w1.txt CONSOLIDATED STATEMENTS OF INCOME & OPERATING EXHIBIT 99.1 ALLIANCE RESOURCE PARTNERS, L.P. CONSOLIDATED STATEMENTS OF INCOME AND OPERATING DATA (IN THOUSANDS, EXCEPT UNIT AND PER UNIT DATA) (UNAUDITED)
THREE MONTHS ENDED MARCH 31, ------------------------------ 2003 2002 ------------ ----------- Tons sold 4,456 4,474 Tons produced 4,990 4,760 SALES AND OPERATING REVENUES: Coal sales $ 114,450 $ 115,845 Transportation revenues 4,315 5,096 Other sales and operating revenues 6,160 4,447 ------------ ----------- Total revenues 124,925 125,388 ------------ ----------- EXPENSES: Operating expenses 82,752 84,517 Transportation expenses 4,315 5,096 Outside purchases 1,019 2,805 General and administrative 5,651 4,941 Depreciation, depletion and amortization 13,131 12,991 Interest expense 3,967 3,937 ------------ ----------- Total operating expenses 110,835 114,287 ------------ ----------- INCOME FROM OPERATIONS 14,090 11,101 OTHER INCOME (EXPENSE) (7) 452 ------------ ----------- INCOME BEFORE INCOME TAXES 14,083 11,553 INCOME TAX EXPENSE 955 153 ------------ ----------- NET INCOME $ 13,128 $ 11,400 ============ =========== ALLOCATION OF NET INCOME: PORTION APPLICABLE TO WARRIOR COAL EARNINGS (LOSS) PRIOR TO ITS ACQUISITION ON FEBRUARY 14, 2003 $ (666) $ 180 PORTION APPLICABLE TO PARTNERS' INTEREST 13,794 11,220 ------------ ----------- NET INCOME $ 13,128 $ 11,400 ============ =========== GENERAL PARTNERS' INTEREST IN NET INCOME (LOSS) $ (389) $ 404 ============ =========== LIMITED PARTNERS' INTEREST IN NET INCOME $ 13,517 $ 10,996 ============ =========== BASIC NET INCOME PER LIMITED PARTNER UNIT $ 0.81 $ 0.71 ============ =========== DILUTED NET INCOME PER LIMITED PARTNER UNIT $ 0.79 $ 0.69 ============ =========== WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING-BASIC 16,593,609 15,405,311 ============ =========== WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING-DILUTED 17,176,824 15,841,062 ============ ===========
ALLIANCE RESOURCE PARTNERS, L.P. CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (IN THOUSANDS) (UNAUDITED)
THREE MONTHS ENDED MARCH 31, ----------------------- 2003 2002 -------- -------- CASH FLOWS PROVIDED BY OPERATING ACTIVITIES $ 13,047 $ 15,385 CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of property, plant and equipment (10,131) (17,091) Purchase of Warrior Coal (12,661) -- Proceeds from sale of property, plant and equipment 38 4 Proceeds from the maturity of marketable securities -- 57 -------- -------- Net cash used in investing activities (22,754) (17,030) -------- -------- CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from common unit offering to public 53,965 -- Cash contribution by General Partners 9 -- Payments on Warrior Coal revolver (17,000) -- Borrowings under revolving credit and working capital facilities 10,600 17,500 Payments under revolving credit and working capital facilities (5,600) (12,500) Payments on long-term debt (3,750) (3,750) Distributions to Partners (8,253) (7,860) -------- -------- Net cash provided by (used in) financing activities 29,971 (6,610) -------- -------- NET CHANGE IN CASH AND CASH EQUIVALENTS 20,264 (8,255) CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 9,028 11,093 -------- -------- CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 29,292 $ 2,838 ======== ========