Navios Maritime Partners L.P. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported time charter revenues of $52,786,000 against $50,464,000 for the same period last year. Earnings attributable to common unit holders were $38,920,000 or $0.65 per basic and diluted share against $16,411,000 or $0.35 per basic and diluted share for the same period last year. Net cash provided by operating activities was $63,624,000 against $31,331,000 for the same period last year. Maintenance and replacement capital expenditures were $4,942,000 against $4,828,000 for the same period last year. EBITDA was $61,251,000 against $38,588,000 for the same period last year. Adjusted EBITDA was $61,251,000 against $38,588,000 for the same period last year. The increase in time charter Revenue was mainly attributable to the acquisition of the Navios Buena Ventura on June 15, 2012, the acquisition of the Navios Soleil on July 24, 2012 and the acquisition of the Navios Helios on July 27, 2012. The increase in net income of $21.4 million was due to a $22.7 million increase in EBITDA and a $0.3 million decrease in interest expense and finance cost, net. The increase was partially offset by a $1.5 million increase in depreciation and amortization expense due to the acquisition of the Navios Buena Ventura, and the favorable lease terms recognized in relation to this acquisition, as well as the acquisitions of the Navios Soleil and the Navios Helios.

For the year, the company reported time charter revenues of $205,435,000 against $186,953,000 for the same period last year. Earnings attributable to common unit holders were $93,566,000 or $1.61 per basic and diluted share against $60,506,000 or $1.33 per basic and diluted share for the same period last year. Net cash provided by operating activities was $179,081,000 against $127,464,000 for the same period last year. Acquisition of vessels was $88,505,000 against $76,220,000 for the same period last year. Acquisition of intangibles was $21,193,000 against $43,780,000 for the same period last year. EBITDA was $177,443,000 against $137,790,000 for the same period last year. Adjusted EBITDA was $177,443,000 against $141,769,000 for the same period last year. Maintenance and replacement capital expenditures were $18,869,000 against $18,869,000 for the same period last year. The increase int time charter Revenue was mainly attributable to the acquisitions of the Navios Luz and the Navios Orbiter on May 19, 2011, the acquisition of the Navios Buena Ventura on June 15, 2012, the acquisition of the Navios Soleil on July 24, 2012 and the acquisition of the Navios Helios on July 27, 2012.