Dominion Midstream Partners Reports Q1 Common Unitholders Net Income Of $5.9 Mln

(RTTNews) - Dominion Midstream Partners (DM) reported that its Common unitholders' interest in net income was $5.9 million, and $0.19 per limited partner unit for the first-quarter ended March 31, 2015.

Net income including noncontrolling interest was $40.5 million, compared to $24.6 million in the prior year.

Operating revenue was $67.2 million, compared to $68.9 million last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.19 per share and revenues of $68.04 million for the quarter. Analysts' estimates typically exclude special items.

On April 1, the partnership acquired Dominion Carolina Gas Transmission, LLC, from Dominion Resources, Inc. (D), for approximately $495 million, subject to working capital adjustments. Dominion Midstream issued approximately $200 million of limited partnership units to Dominion and entered into a two-year note with Dominion for the remaining $295 million in transaction consideration.