Article: K-Sea Transportation Partners L.P. Announces Operating Results and $0.45 Quarterly Distribution for First Quarter of Fiscal 2010.(Financial report)

K-Sea Transportation Partners L.P. (NYSE:KSP) announced operating results for its first fiscal quarter ended September 30, 2009. The Company reported an operating loss of $1.3 million, including an asset impairment charge of $5.9 million. Operating income, before asset impairment charges, was $4.6 million, a decrease of $5.3 million, or 54%, compared to the first fiscal quarter ended September 30, 2008. Earnings before interest, taxes, depreciation and amortization ("EBITDA") for the first quarter of fiscal 2010 was $18.2 million, a decrease of $4.5 million, or 20%, compared to $22.7 million in the same quarter last year. EBITDA is a non-GAAP financial measure that is ...

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