Steel Partners Holdings L.P. Reports Fourth Quarter and Year End 2012 Financial Results

NEW YORK–(BUSINESS WIRE)– Steel Partners Holdings L.P. (NYS: SPLP) (“SPLP” or the “Company”), a global diversified holding company, today announced operating results for the fourth quarter and year ended December 31, 2012. They are summarized in the following paragraphs. For a full discussion of the operating results, please read the Company’s Form 10-K, which can be found at www.steelpartners.com.

SPLP reported revenue of $174.9 million for the quarter, as compared to $156.4 million for the same period of 2011. Income before taxes and equity method investments was $8.8 million in the fourth quarter of 2012, as compared to $6.0 million in 2011. Net income attributable to the Company’s common unitholders for the fourth quarter of 2012 was $1.8 million, or $0.06 per diluted common unit, as compared to $22.8 million, or $0.81 per diluted common unit, for the same period in 2011. In the fourth quarter of 2011, the Company recorded a tax benefit of $63,865, of which $35,426 was attributable to common unitholders, or $1.22 per diluted common unit, relating to the release of valuation reserves on deferred tax assets.

For the year ended December 31, 2012 SPLP reported revenues of $761.5 million, as compared to $679.4 million in 2011. Income before taxes and equity method investments was $46.1 million for the year, as compared to $43.0 million in 2011. Net income attributable to the Company’s common unitholders for the year was $41.0 million, or $1.38 per diluted common unit, as compared to $35.5 million, or $0.99 per diluted common unit, for 2011.

Financial Summary ($000s)