Sunoco Logistics Partners Q3 net income slightly down

Sunoco Logistics Partners has reported a net income of $48.5 million, or $1.13 per diluted share, for the third quarter ended September 30, 2009, compared to $50.3 million, or $1.41 per diluted share, for the same period of 2008.

The company has reported total revenues of $1.43 billion, for the third quarter ended September 30, 2009, compared to $2.83 billion for the same quarter of 2008.

Sunoco Logistics Partners has reported a net income of $196 million, or $5.19 per diluted share, for the first nine months ended September 30, 2009, compared to $139.16 million, or $3.92 per diluted share, for the corresponding period of 2008.

Year-to-date total revenues were $3.76 billion, compared to $8.56 billion for the first nine months of 2008.

Deborah Fretz, president and CEO of Sunoco Logistics Partners, said: "Distributable cash flow for the third quarter continues to be strong and is an excellent indicator of the health of our business. Quarterly net income was negatively impacted by timing of contango crude oil inventory positions and will reverse in the next two quarters."

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