Genesis Energy, L.P. Reports Third Quarter Results.

HOUSTON -- Genesis Energy, L.P. (AMEX:GEL) reported today net income for the third quarter of 2008 of $10.8 million, or $0.25 per unit. This compares to net income in the 2007 period of $1.7 million, or $0.07 per unit.

Net income for the first nine months of 2008 was $19.7 million, or $0.47 per unit. Net income was $1.9 million, or $0.11 per unit, for the first nine months of 2007.

For the third quarter of 2008, we generated total Available Cash before reserves, a non-GAAP measure, of $23.6 million compared to $7.3 million for the third quarter of 2007. Available Cash before reserves is a non-GAAP measure that is defined and reconciled later in this press release to its most directly comparable GAAP financial measure, net cash provided by operating activit...

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