Golar LNG Partners L.P. Reports Unaudited Consolidated Earnings Results for the Quarter and Year Ended December 31, 2017; Provides Earnings Guidance for First Quarter of 2018
For the year, total operating Revenue was $433,102,000 compared to $441,598,000 a year ago. Operating income was $236,110,000 compared to $266,670,000 a year ago. Income before tax was $161,844,000 compared to $202,600,000 a year ago. Net income was $129,280,000 compared to $172,171,000 a year ago. Net cash provided by operating activities was $271,003,000 compared to $261,232,000 a year ago. Additions to vessels and equipment was $426,000. Net Debt as December 31, 2017 was $1,069,228,000.
Operating income for first quarter of 2018 will be negatively impacted by an expected 54 days of scheduled seasonal offhire for the FSRU Golar Igloo, lower rates and levels of utilization achieved by the Golar Mazo and Golar Maria in the carrier spot market and a full quarter's trading by the Golar Grand at her reduced daily rate.