Alliance Holdings GP L.P. (AHGP, Financial) filed Quarterly Report for the period ended 2009-03-31.
Alliance Holdings GP L.P. has a market cap of $1.25 billion; its shares were traded at around $20.96 with a P/E ratio of 13 and P/S ratio of 1. The dividend yield of Alliance Holdings GP L.P. stocks is 7.6%.
General and administrative. General and administrative expenses for the 2009 Quarter increased to $10.1 million compared to $9.3 million in the 2008 Quarter. The increase of $0.8 million was primarily due to higher salary and benefit costs related to increased staffing levels and higher incentive compensation expense.
Outside coal purchases. Outside coal purchases increased to $4.8 million for the 2009 Quarter from $2.9 million in the 2008 Quarter. The increase of $1.9 million was primarily attributable to an increase in outside coal purchases in the Central Appalachian region to supply attractive opportunities in the spot market.
Depreciation, depletion and amortization. Depreciation, depletion and amortization expense increased to $27.4 million for the 2009 Quarter from $23.3 million for the 2008 Quarter. The increase of $4.1 million was primarily attributable to additional depreciation expense associated with continuing capital expenditures related to infrastructure improvements, efficiency projects, reserve acquisitions and expansion of production capacity.
Interest expense. Interest expense, net of capitalized interest increased to $8.0 million for the 2009 Quarter from $3.0 million for the 2008 Quarter. The increase of $5.0 million was principally attributable to increased interest expense resulting from the 2008 financing activities, partially offset by reduced interest expense resulting from the ARLP Partnerships August 2008 principal repayment of $18.0 million on its original senior notes issued in 1999. The 2008 financing activities are discussed in more detail below under Debt Obligations.
Income before income taxes. Income before income taxes increased 72.5% to $72.6 million for the 2009 Quarter compared to $42.1 million for the 2008 Quarter. The increase of $30.5 million reflects the impact of the changes in revenues and expenses described above.
Read the The complete Report
Alliance Holdings GP L.P. has a market cap of $1.25 billion; its shares were traded at around $20.96 with a P/E ratio of 13 and P/S ratio of 1. The dividend yield of Alliance Holdings GP L.P. stocks is 7.6%.
Highlight of Business Operations:
We reported net income of $72.2 million for the three months ended March 31, 2009 (2009 Quarter) compared to $42.7 million for the three months ended March 31, 2008 (2008 Quarter). This increase of $29.5 million was principally due to improved contract pricing resulting in a record average coal sales price of $48.59 per ton sold. The ARLP Partnership had tons sold of 6.4 million compared to 7.0 million tons sold for the 2008 Quarter and tons produced were comparable for each of the 2009 and 2008 Quarters at 6.9 million. Increased operating expenses during the 2009 Quarter primarily reflect the increase in labor and labor-related expenses, as well as higher sales-related expenses, material and supply costs and maintenance costs and other factors described below.General and administrative. General and administrative expenses for the 2009 Quarter increased to $10.1 million compared to $9.3 million in the 2008 Quarter. The increase of $0.8 million was primarily due to higher salary and benefit costs related to increased staffing levels and higher incentive compensation expense.
Outside coal purchases. Outside coal purchases increased to $4.8 million for the 2009 Quarter from $2.9 million in the 2008 Quarter. The increase of $1.9 million was primarily attributable to an increase in outside coal purchases in the Central Appalachian region to supply attractive opportunities in the spot market.
Depreciation, depletion and amortization. Depreciation, depletion and amortization expense increased to $27.4 million for the 2009 Quarter from $23.3 million for the 2008 Quarter. The increase of $4.1 million was primarily attributable to additional depreciation expense associated with continuing capital expenditures related to infrastructure improvements, efficiency projects, reserve acquisitions and expansion of production capacity.
Interest expense. Interest expense, net of capitalized interest increased to $8.0 million for the 2009 Quarter from $3.0 million for the 2008 Quarter. The increase of $5.0 million was principally attributable to increased interest expense resulting from the 2008 financing activities, partially offset by reduced interest expense resulting from the ARLP Partnerships August 2008 principal repayment of $18.0 million on its original senior notes issued in 1999. The 2008 financing activities are discussed in more detail below under Debt Obligations.
Income before income taxes. Income before income taxes increased 72.5% to $72.6 million for the 2009 Quarter compared to $42.1 million for the 2008 Quarter. The increase of $30.5 million reflects the impact of the changes in revenues and expenses described above.
Read the The complete Report
