dte_2q1999

DTE Energy reported financial results for the second quarter and first six months of 1999. Operating revenues increased 8.1% and 8.2% respectively compared to the same periods in 1998. However, higher operating expenses led to a decrease in operating income of 14.9% and 11.4%. Net income increased by 8.9% and 9.8% due to lower income tax expenses. Cash used for investing activities increased as the company spent more on plant and equipment expenditures.