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Veresen Announces 2012 Q4 and Year-End Results, Affirms 2013 Guidance

Veresen Inc. (VSN.TO) announced its 2012 fourth quarter and year-end results, reporting net income attributable to common shares of $12 million or $0.06 per common share for the fourth quarter and $39 million or $0.20 per common share for the year.

Net income in Q4 2011 was $14.4 million or $0.09 per share and $53 million or $0.33 per share for the year 2011.

Earnings reflect an increase in corporate costs, which totaled $22.4 million and $88.9 million for the three and 12 months ended December 31, 2012, respectively, compared to $16.3 million and $62.4 million for the same periods in 2011.

Veresen affirms its 2013 distributable cash to be in the range of $0.92 per common share to $1.19 per common share, with a midpoint of $1.06.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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