<strong> Inergy LP </strong>today reported net income of $82.0 million for the quarter ended March 31, 2008, or $1.46 per diluted limited partner unit. That was down 5 percent from the $86.5 million, or $1.70 per diluted limited partner unit, earned in the same quarter of last year.</p><p>The propane distribution company reported $648.2 million in revenue, up from $553.6 million a year ago. By volume, retail propane sales were 138.6 million gallons compared with 152.5 million gallons sold in the same quarter of 2007.</p><p>&#8220;All of our business units produced solid results for the quarter positioning the company to achieve its full-year objectives,&#8221; said John Sherman, president and CEO. &#8220;Our propane operating team navigated high energy prices and customer conservation delivering consistent earnings, while our midstream businesses performed well and executed on expected growth plans.</p><p>&#8220;We have active acquisition pipelines in both operating segments, expansion projects that are on track, and the financial flexibility to execute growth on behalf of our unit-holders.&#8221;</p><p>Inergy is a limited partnership, so its shares are called limited partnership units.