EXHIBIT 99.1
ALLIANCE RESOURCE PARTNERS, L.P.
CONSOLIDATED STATEMENTS OF INCOME AND OPERATING DATA
(IN THOUSANDS, EXCEPT UNIT AND PER UNIT DATA)
(UNAUDITED)
THREE MONTHS ENDED
MARCH 31,
------------------------------
2003 2002
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Tons sold 4,456 4,474
Tons produced 4,990 4,760
SALES AND OPERATING REVENUES:
Coal sales $ 114,450 $ 115,845
Transportation revenues 4,315 5,096
Other sales and operating revenues 6,160 4,447
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Total revenues 124,925 125,388
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EXPENSES:
Operating expenses 82,752 84,517
Transportation expenses 4,315 5,096
Outside purchases 1,019 2,805
General and administrative 5,651 4,941
Depreciation, depletion and amortization 13,131 12,991
Interest expense 3,967 3,937
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Total operating expenses 110,835 114,287
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INCOME FROM OPERATIONS 14,090 11,101
OTHER INCOME (EXPENSE) (7) 452
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INCOME BEFORE INCOME TAXES 14,083 11,553
INCOME TAX EXPENSE 955 153
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NET INCOME $ 13,128 $ 11,400
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ALLOCATION OF NET INCOME:
PORTION APPLICABLE TO WARRIOR COAL
EARNINGS (LOSS) PRIOR TO ITS
ACQUISITION ON FEBRUARY 14, 2003 $ (666) $ 180
PORTION APPLICABLE TO PARTNERS' INTEREST 13,794 11,220
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NET INCOME $ 13,128 $ 11,400
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GENERAL PARTNERS' INTEREST IN NET
INCOME (LOSS) $ (389) $ 404
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LIMITED PARTNERS' INTEREST IN NET INCOME $ 13,517 $ 10,996
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BASIC NET INCOME PER LIMITED PARTNER UNIT $ 0.81 $ 0.71
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DILUTED NET INCOME PER LIMITED PARTNER UNIT $ 0.79 $ 0.69
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WEIGHTED AVERAGE NUMBER OF UNITS
OUTSTANDING-BASIC 16,593,609 15,405,311
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WEIGHTED AVERAGE NUMBER OF UNITS
OUTSTANDING-DILUTED 17,176,824 15,841,062
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ALLIANCE RESOURCE PARTNERS, L.P.
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(IN THOUSANDS)
(UNAUDITED)
THREE MONTHS ENDED
MARCH 31,
-----------------------
2003 2002
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CASH FLOWS PROVIDED BY OPERATING ACTIVITIES $ 13,047 $ 15,385
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment (10,131) (17,091)
Purchase of Warrior Coal (12,661) --
Proceeds from sale of property, plant
and equipment 38 4
Proceeds from the maturity of marketable
securities -- 57
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Net cash used in investing activities (22,754) (17,030)
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CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from common unit offering to public 53,965 --
Cash contribution by General Partners 9 --
Payments on Warrior Coal revolver (17,000) --
Borrowings under revolving credit and working
capital facilities 10,600 17,500
Payments under revolving credit and working
capital facilities (5,600) (12,500)
Payments on long-term debt (3,750) (3,750)
Distributions to Partners (8,253) (7,860)
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Net cash provided by (used in) financing
activities 29,971 (6,610)
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NET CHANGE IN CASH AND CASH EQUIVALENTS 20,264 (8,255)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 9,028 11,093
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CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 29,292 $ 2,838
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