Azure Midstream Partners, LP Reports Fourth Quarter 2015 Financial Results
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Azure Midstream Partners (AZUR) Reports Q4 Revenue of $18.1M, Says 10-K to Include Going Concern Paragraph
March 30, 2016 8:54 AM EDTAzure Midstream Partners (NYSE: AZUR) reported Adjusted EBITDA for the fourth quarter 2015 of $11.0 million and net loss of ($1.8) million. Revenue for the quarter came in at $18.1 million versus the consensus estimate of $21.26 million.
Bank Waiver
The precipitous decline in oil and natural gas prices during 2015 and into 2016 has had a significant adverse impact on our business, and has impacted the Partnership's ability to comply with financial covenants and ratios in its credit agreement. Pursuant to an amendment to the credit agreement entered into on March 29, 2016 (the "Third Amendment"), we have received an... More
