Net income increased by 30% to $21.5 million, or $0.39 per unit on a diluted basis, for the fourth quarter of 2007, compared to net income of $16.5 million, or $0.43 per unit on a diluted basis, for the fourth quarter of 2006.
Copano’s operating segment gross margin increased 78% compared to the fourth quarter of 2006. Total segment gross margin, which includes the results of Copano’s hedging program, increased 40% to $66.3 million for the fourth quarter of 2007 from $47.4 million for the fourth quarter of 2006.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the fourth quarter of 2007 was $50.3 million, compared with $32.7 million for the fourth quarter of 2006, an increase of 54%.
John Eckel, chairman and CEO of Copano, said: We are pleased that continued volume growth in our operating segments and a favorable commodity price environment combined to generate significant increases in fourth quarter net income, adjusted EBITDA and distributable cash flow.
