Boardwalk Pipeline's First-Quarter Profit Drops 41% on Higher Expenses

SUGAR LAND--April 28, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--Boardwalk Pipeline Partners (NYSE:BWP) (Owensboro, Kentucky), which owns and operates natural gas pipelines and storage facilities, has announced that its first-quarter 2009 net income has dropped 41% to $52 million compared with last year's $88.1 million, as a result of higher expenses related to expansion projects. Operating revenues totaled $223.4 million, up 13.2% compared with $197.3 million a year ago; however, operating costs jumped 51.1% to $144.8 million, compared with $95.8 million year over year.