Energy East Corporation announced its second quarter 2007 financial results, with earnings per share of $0.12, down from $0.19 in the second quarter of 2006. The primary factors for the year-over-year decline were the impacts of an August 2006 rate order for NYSEG, increased storm costs, and merger costs associated with the proposed acquisition of Energy East by Iberdrola. However, electric and natural gas margins increased due to higher sales volumes and a rate settlement. Additionally, Energy East announced it had entered an agreement to be acquired by Iberdrola at $28.50 per share, pending regulatory approvals.
DTE Energy announced its first quarter 2007 earnings. Reported earnings were $134 million compared to $136 million in the first quarter of 2006. Operating earnings, which exclude non-recurring items, were $149 million compared to $171 million in the prior year. The primary drivers of the decline were a temporary rate reduction at Detroit Edison and increased costs from a January ice storm. DTE Energy maintained its 2007 earnings guidance and cash flow from operations increased 8% from the prior year.
This document provides a consolidated report for FirstEnergy Corp.'s third quarter of 2007. Some key highlights include:
- Normalized non-GAAP earnings were $1.32 per share for Q3 2007 compared to $1.42 per share for Q3 2006.
- GAAP earnings were $1.36 per share for Q3 2007 compared to $1.41 per share for Q3 2006.
- Earnings guidance for 2007 was revised to $4.15 to $4.25 per share from the previous range of $4.05 to $4.25 per share.
This document provides Burlington Northern Santa Fe Corporation's financial results for the 2nd quarter of 2008. It includes:
- Freight revenues increased 16% to $4.35 billion compared to $3.74 billion in 2Q2007, driven by improved yields and higher fuel surcharges.
- Operating income was $714 million compared to $841 million in 2Q2007, with a $474 million increase in fuel expenses and $175 million environmental charge.
- Net income was $350 million compared to $433 million in 2Q2007, with earnings per share of $1.00 compared to $1.20 previously.
- Capital expenditures for 2008 will increase to $2.
DTE Energy announced its 2007 financial results. Reported earnings were $971 million or $5.70 per share, up from $433 million or $2.43 per share in 2006. This was largely driven by asset sales. Operating earnings, which exclude asset sales, were $2.82 per share, down slightly from $2.89 per share in 2006. For 2008, DTE Energy expects operating earnings between $2.70 to $3.10 per share and continues its focus on investments in its utility businesses.
This document provides a consolidated report and financial highlights for FirstEnergy Corp for the 4th quarter of 2007. Some key points:
- Normalized non-GAAP earnings per share for Q4 2007 were $0.90 compared to $0.84 in Q4 2006.
- GAAP earnings per share for Q4 2007 were $0.88 compared to $0.85 in Q4 2006.
- Normalized non-GAAP earnings for 2007 were $4.23 per share, near the top of guidance range.
- 2008 earnings guidance range is $4.15 to $4.35 per share.
Exelon Corporation reported fourth quarter 2008 earnings of $707 million compared to $562 million in the fourth quarter of 2007. For the full year 2008, earnings were $2,737 million compared to $2,736 million in 2007. Exelon reaffirmed its 2009 earnings guidance range of $4.00 to $4.30 per share. Highlights included Exelon continuing its efforts to acquire NRG Energy through an exchange offer and regulatory filings, strong nuclear plant performance in the fourth quarter, and ComEd and PECO issuing new bonds totaling $2.25 billion.
Progress Energy reported second quarter 2003 ongoing earnings of $0.67 per share compared to $0.84 per share in the second quarter of 2002. For the first half of 2003, ongoing earnings were $1.46 per share compared to $1.56 per share for the same period last year. The company reaffirmed its 2003 ongoing earnings guidance of $3.60 to $3.80 per share. Unfavorable weather, higher costs, and share dilution contributed to the decrease in earnings compared to last year. Progress Energy's utility businesses saw increased revenues from customer growth and usage that were offset by the factors above.
Progress Energy reported strong financial results for the first quarter of 2003. They reported ongoing earnings of $0.79 per share and GAAP earnings of $0.89 per share. Additionally, they acquired 195 billion cubic feet of natural gas reserves and agreed to acquire a full-requirements power supply agreement. The company saw increased earnings due to favorable weather, customer growth and lower interest expenses, though earnings were partially offset by a rate reduction in Florida.
DTE Energy announced its first quarter 2007 earnings. Reported earnings were $134 million compared to $136 million in the first quarter of 2006. Operating earnings, which exclude non-recurring items, were $149 million compared to $171 million in the prior year. The primary drivers of the decline were a temporary rate reduction at Detroit Edison and increased costs from a January ice storm. DTE Energy maintained its 2007 earnings guidance and cash flow from operations increased 8% from the prior year.
This document provides a consolidated report for FirstEnergy Corp.'s third quarter of 2007. Some key highlights include:
- Normalized non-GAAP earnings were $1.32 per share for Q3 2007 compared to $1.42 per share for Q3 2006.
- GAAP earnings were $1.36 per share for Q3 2007 compared to $1.41 per share for Q3 2006.
- Earnings guidance for 2007 was revised to $4.15 to $4.25 per share from the previous range of $4.05 to $4.25 per share.
This document provides Burlington Northern Santa Fe Corporation's financial results for the 2nd quarter of 2008. It includes:
- Freight revenues increased 16% to $4.35 billion compared to $3.74 billion in 2Q2007, driven by improved yields and higher fuel surcharges.
- Operating income was $714 million compared to $841 million in 2Q2007, with a $474 million increase in fuel expenses and $175 million environmental charge.
- Net income was $350 million compared to $433 million in 2Q2007, with earnings per share of $1.00 compared to $1.20 previously.
- Capital expenditures for 2008 will increase to $2.
DTE Energy announced its 2007 financial results. Reported earnings were $971 million or $5.70 per share, up from $433 million or $2.43 per share in 2006. This was largely driven by asset sales. Operating earnings, which exclude asset sales, were $2.82 per share, down slightly from $2.89 per share in 2006. For 2008, DTE Energy expects operating earnings between $2.70 to $3.10 per share and continues its focus on investments in its utility businesses.
This document provides a consolidated report and financial highlights for FirstEnergy Corp for the 4th quarter of 2007. Some key points:
- Normalized non-GAAP earnings per share for Q4 2007 were $0.90 compared to $0.84 in Q4 2006.
- GAAP earnings per share for Q4 2007 were $0.88 compared to $0.85 in Q4 2006.
- Normalized non-GAAP earnings for 2007 were $4.23 per share, near the top of guidance range.
- 2008 earnings guidance range is $4.15 to $4.35 per share.
Exelon Corporation reported fourth quarter 2008 earnings of $707 million compared to $562 million in the fourth quarter of 2007. For the full year 2008, earnings were $2,737 million compared to $2,736 million in 2007. Exelon reaffirmed its 2009 earnings guidance range of $4.00 to $4.30 per share. Highlights included Exelon continuing its efforts to acquire NRG Energy through an exchange offer and regulatory filings, strong nuclear plant performance in the fourth quarter, and ComEd and PECO issuing new bonds totaling $2.25 billion.
Progress Energy reported second quarter 2003 ongoing earnings of $0.67 per share compared to $0.84 per share in the second quarter of 2002. For the first half of 2003, ongoing earnings were $1.46 per share compared to $1.56 per share for the same period last year. The company reaffirmed its 2003 ongoing earnings guidance of $3.60 to $3.80 per share. Unfavorable weather, higher costs, and share dilution contributed to the decrease in earnings compared to last year. Progress Energy's utility businesses saw increased revenues from customer growth and usage that were offset by the factors above.
Progress Energy reported strong financial results for the first quarter of 2003. They reported ongoing earnings of $0.79 per share and GAAP earnings of $0.89 per share. Additionally, they acquired 195 billion cubic feet of natural gas reserves and agreed to acquire a full-requirements power supply agreement. The company saw increased earnings due to favorable weather, customer growth and lower interest expenses, though earnings were partially offset by a rate reduction in Florida.
Duke Energy reported higher ongoing diluted EPS of $0.43 per share compared to $0.32 in the prior year's quarter. Revenues were lower at $4.04 billion compared to $5.27 billion due to the deconsolidation of DEFS, but this was partially offset by the addition of Cinergy's operations. Strong performances from Gas Transmission, Field Services and Crescent helped deliver solid results, and the company remains on track to achieve its 2006 EPS target.
This document is a consolidated report from FirstEnergy Corp for the second quarter of 2008. Some key points:
- Normalized non-GAAP earnings were $0.87 per share for Q2 2008, down from $1.13 per share in Q2 2007, with lower distribution deliveries and higher fuel/purchased power costs reducing earnings.
- GAAP earnings were $0.86 per share for Q2 2008 compared to $1.11 per share in the prior year.
- Earnings guidance for 2008 was revised to $4.25 to $4.35 per share on a non-GAAP basis.
DTE Energy reported second quarter 2007 earnings of $385 million, up from a loss of $33 million in the second quarter of 2006. Operating earnings were $101 million for the quarter, an increase from an operating loss of $1 million in the prior year. The sale of the company's Antrim Shale gas business and increased non-utility earnings contributed to the earnings growth. DTE Energy also reported year-to-date cash flow from operations of approximately $998 million, a 12% increase from the previous year. The company reiterated its 2007 operating earnings guidance excluding synthetic fuel of $450-485 million and including synthetic fuel of $150-215 million.
Exelon reported lower third quarter 2008 earnings compared to third quarter 2007. Earnings were impacted by higher operating expenses, unfavorable weather, and economic factors. However, Generation saw higher energy margins. Exelon expects full-year 2008 earnings near the bottom of its guidance range. It also announced a 5% increase to its fourth quarter common stock dividend and provided operating earnings outlooks for its subsidiaries in 2008.
DTE Energy raised its 2008 earnings guidance based on strong expected performance across several business segments. It reported first quarter 2008 operating earnings of $128 million, up from $112 million in the first quarter of 2007, driven by higher earnings at its energy trading business. Several business segments experienced improved results compared to the prior year quarter. The company also advocated for comprehensive energy reform legislation in Michigan to secure clean energy supplies and jobs.
first energy 4Q 06 Consolidated Report to the Financial_Communityfinance21
This document is Consolidated Energy's quarterly report for Q4 2006. It provides an analysis of changes in EPS from Q4 2005 to Q4 2006. Normalized non-GAAP EPS increased from $0.77 to $0.84 primarily due to regulatory changes in Ohio that increased earnings. However, lower distribution deliveries and generation revenues, along with higher fuel and purchase power costs reduced earnings. Guidance for 2007 normalized non-GAAP EPS is $4.05 to $4.25.
- Burlington Northern Santa Fe (BNSF) reported third quarter 2008 earnings of $2.00 per diluted share, up from $1.48 per diluted share in third quarter 2007.
- Freight revenues increased 21% to $4.77 billion compared to third quarter 2007, driven by improved yields and higher fuel surcharges of $570 million from increased fuel prices.
- Operating expenses were $3.70 billion compared to $3.07 billion in third quarter 2007, with fuel expenses rising $501 million due to higher fuel prices.
- BNSF operates one of the largest rail networks in North America and transports a variety of commodities and goods.
This document summarizes an earnings conference call for Integrys Energy Group for the first quarter of 2008. Key highlights included achieving their 50th consecutive year of dividend increases and completing integration of the Peoples Energy acquisition. Financial results were presented, showing income from continuing operations of $136.6 million compared to $117.2 million in the prior year. Segment results and capital expenditure plans were also reviewed. Guidance for 2008 diluted EPS of $3.37-$3.82 was provided.
DTE Energy reported 2006 operating earnings of $593 million, or $3.33 per share, compared to 2005 operating earnings of $577 million, or $3.28 per share. Excluding synthetic fuels, 2006 operating earnings were $2.89 per share, above guidance. The company's electric utility had strong results due to higher rates and customers returning to service, while its gas utility saw lower earnings due to mild weather. DTE Energy reiterated 2007 operating earnings guidance, excluding synthetic fuels, of $2.60 to $2.80 per share and including synthetic fuels of $3.20 to $4.05 per share.
Danaher Corporation announced its second quarter 2007 results, with net earnings of $311 million compared to $314 million in the second quarter of 2006. Sales increased 13.5% to $2.67 billion. For the first six months of 2007, net earnings were $566 million on sales of $5.23 billion, increases of 5.5% and 16.5% respectively over the same period in 2006. The company stated that core revenue growth was 4.5% in the quarter despite difficult comparisons, and that performance through the first half gives them confidence in achieving positive results for the full year.
Xcel Energy Inc. is a holding company that owns several regulated electric and natural gas utility subsidiaries serving customers in 11 states. In 2003, Xcel Energy directly owned five utility subsidiaries operating in the electric and natural gas segments. It also had several nonregulated subsidiaries and conducted corporate financing activities. Xcel Energy sold some subsidiaries in 2003 and classified others as discontinued operations. Regulated utility income from continuing operations decreased in 2003 primarily due to higher operating costs and weather impacts as well as share dilution. Income from discontinued operations increased due to lower losses from NRG compared to 2002.
Symantec reported its fiscal 2009 third quarter supplemental financial information. Key highlights include:
- Non-GAAP revenue increased 1% year-over-year to $1.538 billion. GAAP revenue was flat at $1.514 billion.
- Diluted non-GAAP EPS grew 27% to $0.42. Diluted GAAP EPS was $(8.23).
- Security and compliance revenue declined 5% to $396 million. Storage and server management grew 1% to $569 million.
- International revenue declined 5% to $771 million. US revenue grew 7% to $768 million.
- Operating expenses declined 7% to $838 million. Operating income grew 18
The document discusses Thermo Scientific's leadership in serving science through analytical instruments, equipment, reagents, software and services. It highlights the company's size and scale, unmatched capabilities, portfolio of leading brands, and mission to make the world healthier, cleaner and safer. Key strengths include global industry leadership, ability to continuously invest in growth opportunities through R&D, and an excellent track record of financial performance. New products are presented for applications such as sample preparation, analysis, and data interpretation.
Over the last five years, USG invested over $900 million to improve operations, built its distribution arm into a $2.5 billion business, generated $1.5 billion in cash, and emerged from Chapter 11 bankruptcy with a landmark agreement that preserved shareholder equity. In 2006, USG reported record sales of $5.8 billion despite challenges from a slowing housing market. USG is well positioned for continued success due to investments in production, a diverse product portfolio beyond wallboard, and the trust built with stakeholders during its restructuring.
The document is Southwest Airlines' annual report for 1997. It discusses Southwest's continued profitability and growth over its 25-year history. Key points include:
- Net income increased 53.3% to $317.8 million in 1997.
- The airline took delivery of new Boeing 737-700 aircraft and ordered 59 additional planes to support future growth.
- Southwest aims to replicate its success over the past 25 years in the next 25 years.
- The report discusses Southwest's symbols of freedom including its flag, low fares, operating strategy, and culture.
This document is Symantec Corporation's Form 10-Q quarterly report filed with the SEC on November 7, 2008 for the quarterly period ended October 3, 2008. It includes Symantec's condensed consolidated financial statements and management's discussion and analysis of financial condition and results of operations for the quarter. The report provides information on Symantec's revenues, costs, expenses, operating income, net income, assets, liabilities and cash flows for the quarterly period.
The annual report summarizes Symantec's financial results for fiscal year 2006. It reported record non-GAAP revenue of $5 billion, up 8% from the previous year. Non-GAAP earnings per share were $1, up 16% from 2005. Symantec completed its merger with Veritas Software, significantly expanding its portfolio and market position in storage and backup software. Going forward, Symantec aims to continue innovating its security and availability products and establishing new solutions to address evolving cyber threats and market needs.
Energy East Corporation achieved several goals in 2007 that positioned it for long-term success and sustainability. It exceeded earnings targets, increased its dividend for the 10th straight year, and maintained high customer satisfaction ratings. Energy East also made progress on key infrastructure initiatives and acquired more fuel-efficient vehicles. Most significantly, Energy East agreed to be acquired by Iberdrola, one of the world's largest renewable energy producers, a deal that will provide expertise and funding to achieve Energy East's sustainability goals over the coming decades.
DTE Energy reported first quarter 2007 earnings of $134 million, down slightly from $136 million in first quarter 2006. Operating earnings were $149 million in first quarter 2007, down from $171 million in the prior year period. The company reiterated its full year 2007 operating earnings guidance. DTE Energy saw increased earnings at its gas utility segment due to colder weather, while earnings declined at its electric utility due to a rate reduction and higher storm costs. The company is pursuing plans to restructure its non-utility businesses and return value to shareholders through stock buybacks.
DTE Energy announced its 2007 financial results. Reported earnings were $971 million or $5.70 per share, up from $433 million or $2.43 per share in 2006. This was largely driven by asset sales. Operating earnings excluding special items were $2.82 per share, down slightly from $2.89 per share in 2006. DTE Energy expects over 80% of its earnings to come from its utility businesses going forward and provided 2008 operating earnings guidance of $2.70 to $3.10 per share.
DTE Energy announced its third quarter 2007 earnings. Operating earnings were $181 million compared to $255 million in third quarter 2006, primarily due to one-time gains in 2006 and startup costs for new systems in 2007. For the first nine months, operating earnings were $317 million compared to $377 million in 2006, mainly due to onetime costs at Detroit Edison including new system startup costs and a temporary rate reduction. The company expects to meet its annual operating earnings guidance and sees strong cash flow providing flexibility for growth.
DTE Energy announced its third quarter 2007 earnings. Operating earnings were $181 million compared to $255 million in third quarter 2006, primarily due to one-time gains in 2006 and startup costs for new systems in 2007. For the first nine months, operating earnings were $317 million compared to $377 million in 2006, mainly due to onetime costs at Detroit Edison including new system startup. The company expects to meet its annual operating earnings guidance and sees underlying business performing well despite some one-time items.
Duke Energy reported higher ongoing diluted EPS of $0.43 per share compared to $0.32 in the prior year's quarter. Revenues were lower at $4.04 billion compared to $5.27 billion due to the deconsolidation of DEFS, but this was partially offset by the addition of Cinergy's operations. Strong performances from Gas Transmission, Field Services and Crescent helped deliver solid results, and the company remains on track to achieve its 2006 EPS target.
This document is a consolidated report from FirstEnergy Corp for the second quarter of 2008. Some key points:
- Normalized non-GAAP earnings were $0.87 per share for Q2 2008, down from $1.13 per share in Q2 2007, with lower distribution deliveries and higher fuel/purchased power costs reducing earnings.
- GAAP earnings were $0.86 per share for Q2 2008 compared to $1.11 per share in the prior year.
- Earnings guidance for 2008 was revised to $4.25 to $4.35 per share on a non-GAAP basis.
DTE Energy reported second quarter 2007 earnings of $385 million, up from a loss of $33 million in the second quarter of 2006. Operating earnings were $101 million for the quarter, an increase from an operating loss of $1 million in the prior year. The sale of the company's Antrim Shale gas business and increased non-utility earnings contributed to the earnings growth. DTE Energy also reported year-to-date cash flow from operations of approximately $998 million, a 12% increase from the previous year. The company reiterated its 2007 operating earnings guidance excluding synthetic fuel of $450-485 million and including synthetic fuel of $150-215 million.
Exelon reported lower third quarter 2008 earnings compared to third quarter 2007. Earnings were impacted by higher operating expenses, unfavorable weather, and economic factors. However, Generation saw higher energy margins. Exelon expects full-year 2008 earnings near the bottom of its guidance range. It also announced a 5% increase to its fourth quarter common stock dividend and provided operating earnings outlooks for its subsidiaries in 2008.
DTE Energy raised its 2008 earnings guidance based on strong expected performance across several business segments. It reported first quarter 2008 operating earnings of $128 million, up from $112 million in the first quarter of 2007, driven by higher earnings at its energy trading business. Several business segments experienced improved results compared to the prior year quarter. The company also advocated for comprehensive energy reform legislation in Michigan to secure clean energy supplies and jobs.
first energy 4Q 06 Consolidated Report to the Financial_Communityfinance21
This document is Consolidated Energy's quarterly report for Q4 2006. It provides an analysis of changes in EPS from Q4 2005 to Q4 2006. Normalized non-GAAP EPS increased from $0.77 to $0.84 primarily due to regulatory changes in Ohio that increased earnings. However, lower distribution deliveries and generation revenues, along with higher fuel and purchase power costs reduced earnings. Guidance for 2007 normalized non-GAAP EPS is $4.05 to $4.25.
- Burlington Northern Santa Fe (BNSF) reported third quarter 2008 earnings of $2.00 per diluted share, up from $1.48 per diluted share in third quarter 2007.
- Freight revenues increased 21% to $4.77 billion compared to third quarter 2007, driven by improved yields and higher fuel surcharges of $570 million from increased fuel prices.
- Operating expenses were $3.70 billion compared to $3.07 billion in third quarter 2007, with fuel expenses rising $501 million due to higher fuel prices.
- BNSF operates one of the largest rail networks in North America and transports a variety of commodities and goods.
This document summarizes an earnings conference call for Integrys Energy Group for the first quarter of 2008. Key highlights included achieving their 50th consecutive year of dividend increases and completing integration of the Peoples Energy acquisition. Financial results were presented, showing income from continuing operations of $136.6 million compared to $117.2 million in the prior year. Segment results and capital expenditure plans were also reviewed. Guidance for 2008 diluted EPS of $3.37-$3.82 was provided.
DTE Energy reported 2006 operating earnings of $593 million, or $3.33 per share, compared to 2005 operating earnings of $577 million, or $3.28 per share. Excluding synthetic fuels, 2006 operating earnings were $2.89 per share, above guidance. The company's electric utility had strong results due to higher rates and customers returning to service, while its gas utility saw lower earnings due to mild weather. DTE Energy reiterated 2007 operating earnings guidance, excluding synthetic fuels, of $2.60 to $2.80 per share and including synthetic fuels of $3.20 to $4.05 per share.
Danaher Corporation announced its second quarter 2007 results, with net earnings of $311 million compared to $314 million in the second quarter of 2006. Sales increased 13.5% to $2.67 billion. For the first six months of 2007, net earnings were $566 million on sales of $5.23 billion, increases of 5.5% and 16.5% respectively over the same period in 2006. The company stated that core revenue growth was 4.5% in the quarter despite difficult comparisons, and that performance through the first half gives them confidence in achieving positive results for the full year.
Xcel Energy Inc. is a holding company that owns several regulated electric and natural gas utility subsidiaries serving customers in 11 states. In 2003, Xcel Energy directly owned five utility subsidiaries operating in the electric and natural gas segments. It also had several nonregulated subsidiaries and conducted corporate financing activities. Xcel Energy sold some subsidiaries in 2003 and classified others as discontinued operations. Regulated utility income from continuing operations decreased in 2003 primarily due to higher operating costs and weather impacts as well as share dilution. Income from discontinued operations increased due to lower losses from NRG compared to 2002.
Symantec reported its fiscal 2009 third quarter supplemental financial information. Key highlights include:
- Non-GAAP revenue increased 1% year-over-year to $1.538 billion. GAAP revenue was flat at $1.514 billion.
- Diluted non-GAAP EPS grew 27% to $0.42. Diluted GAAP EPS was $(8.23).
- Security and compliance revenue declined 5% to $396 million. Storage and server management grew 1% to $569 million.
- International revenue declined 5% to $771 million. US revenue grew 7% to $768 million.
- Operating expenses declined 7% to $838 million. Operating income grew 18
The document discusses Thermo Scientific's leadership in serving science through analytical instruments, equipment, reagents, software and services. It highlights the company's size and scale, unmatched capabilities, portfolio of leading brands, and mission to make the world healthier, cleaner and safer. Key strengths include global industry leadership, ability to continuously invest in growth opportunities through R&D, and an excellent track record of financial performance. New products are presented for applications such as sample preparation, analysis, and data interpretation.
Over the last five years, USG invested over $900 million to improve operations, built its distribution arm into a $2.5 billion business, generated $1.5 billion in cash, and emerged from Chapter 11 bankruptcy with a landmark agreement that preserved shareholder equity. In 2006, USG reported record sales of $5.8 billion despite challenges from a slowing housing market. USG is well positioned for continued success due to investments in production, a diverse product portfolio beyond wallboard, and the trust built with stakeholders during its restructuring.
The document is Southwest Airlines' annual report for 1997. It discusses Southwest's continued profitability and growth over its 25-year history. Key points include:
- Net income increased 53.3% to $317.8 million in 1997.
- The airline took delivery of new Boeing 737-700 aircraft and ordered 59 additional planes to support future growth.
- Southwest aims to replicate its success over the past 25 years in the next 25 years.
- The report discusses Southwest's symbols of freedom including its flag, low fares, operating strategy, and culture.
This document is Symantec Corporation's Form 10-Q quarterly report filed with the SEC on November 7, 2008 for the quarterly period ended October 3, 2008. It includes Symantec's condensed consolidated financial statements and management's discussion and analysis of financial condition and results of operations for the quarter. The report provides information on Symantec's revenues, costs, expenses, operating income, net income, assets, liabilities and cash flows for the quarterly period.
The annual report summarizes Symantec's financial results for fiscal year 2006. It reported record non-GAAP revenue of $5 billion, up 8% from the previous year. Non-GAAP earnings per share were $1, up 16% from 2005. Symantec completed its merger with Veritas Software, significantly expanding its portfolio and market position in storage and backup software. Going forward, Symantec aims to continue innovating its security and availability products and establishing new solutions to address evolving cyber threats and market needs.
Energy East Corporation achieved several goals in 2007 that positioned it for long-term success and sustainability. It exceeded earnings targets, increased its dividend for the 10th straight year, and maintained high customer satisfaction ratings. Energy East also made progress on key infrastructure initiatives and acquired more fuel-efficient vehicles. Most significantly, Energy East agreed to be acquired by Iberdrola, one of the world's largest renewable energy producers, a deal that will provide expertise and funding to achieve Energy East's sustainability goals over the coming decades.
DTE Energy reported first quarter 2007 earnings of $134 million, down slightly from $136 million in first quarter 2006. Operating earnings were $149 million in first quarter 2007, down from $171 million in the prior year period. The company reiterated its full year 2007 operating earnings guidance. DTE Energy saw increased earnings at its gas utility segment due to colder weather, while earnings declined at its electric utility due to a rate reduction and higher storm costs. The company is pursuing plans to restructure its non-utility businesses and return value to shareholders through stock buybacks.
DTE Energy announced its 2007 financial results. Reported earnings were $971 million or $5.70 per share, up from $433 million or $2.43 per share in 2006. This was largely driven by asset sales. Operating earnings excluding special items were $2.82 per share, down slightly from $2.89 per share in 2006. DTE Energy expects over 80% of its earnings to come from its utility businesses going forward and provided 2008 operating earnings guidance of $2.70 to $3.10 per share.
DTE Energy announced its third quarter 2007 earnings. Operating earnings were $181 million compared to $255 million in third quarter 2006, primarily due to one-time gains in 2006 and startup costs for new systems in 2007. For the first nine months, operating earnings were $317 million compared to $377 million in 2006, mainly due to onetime costs at Detroit Edison including new system startup costs and a temporary rate reduction. The company expects to meet its annual operating earnings guidance and sees strong cash flow providing flexibility for growth.
DTE Energy announced its third quarter 2007 earnings. Operating earnings were $181 million compared to $255 million in third quarter 2006, primarily due to one-time gains in 2006 and startup costs for new systems in 2007. For the first nine months, operating earnings were $317 million compared to $377 million in 2006, mainly due to onetime costs at Detroit Edison including new system startup. The company expects to meet its annual operating earnings guidance and sees underlying business performing well despite some one-time items.
Spectra Energy reported third quarter 2007 results with ongoing net income of $240 million, up 32% from the prior year. Key highlights included strong performance from US Transmission and Distribution businesses, as well as progress on their $3 billion 2007-2009 capital investment program with $625-650 million expected to be completed by the end of 2007. Management remains confident in meeting 2007 financial goals and delivering steady growth and attractive dividends.
DTE Energy reported second quarter 2007 earnings of $385 million, up from a loss of $33 million in the second quarter of 2006. Operating earnings were $101 million for the quarter, an increase from an operating loss of $1 million in the prior year. The sale of the company's Antrim Shale gas exploration business and increased non-utility earnings contributed to the earnings growth. DTE Energy also reported year-to-date cash flow from operations of approximately $998 million, a 12% increase from the previous year. The company reiterated its 2007 operating earnings guidance excluding synthetic fuel of $450-485 million and including synthetic fuel of $150-215 million.
Spectra Energy reported second quarter 2007 net income of $196 million, down from $320 million in the second quarter of 2006. Ongoing net income, which excludes special items, was $192 million compared to $264 million in the prior year. Earnings were lower due to decreased results in the Western Canada Transmission & Processing and Field Services segments, which faced planned maintenance and power outages. However, the company remains on track to achieve its 2007 financial goals due to strong ongoing operations and continued progress on its $3 billion capital expansion program.
Exelon Corporation reported strong financial results for Q4 and full year 2007. Key highlights included record-setting nuclear output and fleet capacity factors. Adjusted operating earnings for Q4 2007 were $677 million compared to $487 million in 2006, driven by higher energy margins and favorable weather. For 2008, Exelon expects adjusted operating earnings per share of $4.00-$4.40 and GAAP earnings of $3.70-$4.10 per share. The company also announced a dividend increase and new $500 million share repurchase program.
DTE Energy reported second quarter 2001 operating earnings of $70 million compared to $108 million in the second quarter of 2000. While earnings were impacted by Michigan's electric restructuring legislation, the company remains on track to reach its projected full year earnings of $3.50 to $3.60 per share. The acquisition of MCN Energy was completed during the quarter, and earnings are expected to benefit in the second half of the year from the addition of MCN's gas operations and projected cost synergies from the merger. Several non-regulated businesses performed well during the quarter and are also expected to contribute to meeting the company's full year earnings projection.
DTE Energy reported second quarter 2001 operating earnings of $70 million compared to $108 million in the second quarter of 2000. While earnings were impacted by Michigan's electric restructuring legislation, the company remains on track to reach its projected full year earnings of $3.50 to $3.60 per share. The acquisition of MCN Energy was completed during the quarter, and earnings are expected to benefit in the second half of the year from the addition of MCN's gas operations and projected cost synergies from the merger. Several non-regulated businesses performed well during the quarter and are also expected to contribute to meeting the company's full year earnings projection.
The document is a transcript from Duke Energy's first quarter 2007 earnings conference call.
- Duke Energy reported first quarter 2007 ongoing diluted EPS of $0.30, up from $0.21 in the prior year quarter. Results exceeded internal plans.
- Key drivers included the addition of Cinergy's regulated Midwest assets, improved results at Duke Energy International, and continued strong performance from core regulated businesses.
- Segment results were positively impacted by customer growth, favorable weather, a DOE settlement, and synergies from the Cinergy merger, partially offset by rate reductions related to merger approval requirements.
Exelon announced its third quarter 2007 results, reporting GAAP earnings of $780 million compared to a loss of $44 million in the third quarter of 2006. Adjusted operating earnings for the third quarter of 2007 were $823 million compared to $690 million for the same period in 2006, driven by higher energy margins and weather conditions. Exelon reaffirmed its full year 2007 adjusted operating earnings guidance range of $4.15 to $4.30 per share and raised its GAAP earnings guidance range to $3.90 to $4.20 per share. Key events in the quarter included an Illinois electric rate settlement providing $1 billion in rate relief over four years and Exelon's board approving a $
Exelon announced its third quarter 2007 results, reporting GAAP earnings of $780 million compared to a loss of $44 million in third quarter 2006. Adjusted operating earnings were $823 million compared to $690 million in third quarter 2006, driven by higher energy margins and nuclear output. Exelon reaffirmed its 2007 adjusted operating earnings guidance range of $4.15-$4.30 per share and raised its GAAP earnings guidance range to $3.90-$4.20 per share. Key events in the quarter included an Illinois electric rate settlement providing $1 billion in customer rate relief over four years and Exelon initiating a $1.25 billion share repurchase program.
DTE Energy reported third quarter earnings of $0.96 per share, up from $0.51 per share in the third quarter of 2001, excluding merger and restructuring expenses. Year-to-date earnings increased 30% to $2.62 per share. The company's regulated utility operations performed well due to higher residential sales from increased cooling demand and lower fuel costs. Non-regulated businesses such as energy services also contributed significantly to earnings growth. Despite challenges in the industry, DTE Energy reaffirmed its 2002 earnings guidance of $3.75-$3.95 per share and 2003 guidance of $3.90-$4.10 per share, expecting continued cost controls to offset cost pressures.
DTE Energy reported third quarter earnings of $0.96 per share, up from $0.51 per share in the third quarter of 2001, excluding merger and restructuring expenses. Year-to-date earnings increased 30% compared to 2001. The company's regulated utility operations performed well due to higher residential sales from increased cooling demand and lower fuel costs. Non-regulated businesses such as energy services also contributed significantly to earnings. DTE Energy reaffirmed its guidance for 2002 earnings of $3.75-$3.95 per share and 2003 earnings of $3.90-$4.10 per share, expecting continued challenges from the economy but benefits from cost controls.
DTE Energy raised its 2008 earnings guidance due to strong expected performance across several business segments. It reported first quarter 2008 earnings of $212 million compared to $134 million in first quarter 2007. Operating earnings for first quarter 2008 were $128 million compared to $112 million in first quarter 2007, driven by higher earnings from energy trading. Several business segments experienced improved earnings compared to first quarter 2007. DTE Energy also saw higher cash flows from operations compared to first quarter 2007.
The document provides an overview of Pepco Holdings, Inc.'s (PHI) strategy to build shareholder value. PHI aims to increase investment in infrastructure through its Blueprint programs to modernize its electric grid. It also plans growth for its competitive energy businesses, Conectiv Energy and Pepco Energy Services. PHI expects its regulated Power Delivery business to remain the primary driver of earnings, contributing 60-70% of operating income over the planning period through infrastructure investments and favorable regulatory outcomes.
Energy East Corporation announced its third quarter 2007 financial results, reporting earnings per share of $0.16, up from $0.14 in third quarter 2006. For the 12 months ended September 30, 2007, earnings per share were $1.68, unchanged from the prior year. Key factors influencing the quarterly results included a decline in electric margins, lower income taxes which increased earnings, and reduced interest costs due to debt refinancing. The company also discussed an upcoming shareholder vote on a proposed merger with Iberdrola and an increase to its common stock dividend.
Energy East Corporation announced its third quarter 2007 financial results. Earnings per share were $0.16, up from $0.14 in the third quarter of 2006. For the 12 months ended September 30, 2007, earnings per share were $1.68, the same as the previous year. Key factors impacting the quarterly results included lower electric margins, lower income taxes, and reduced interest costs. The company also announced a 3.3% increase to its quarterly common stock dividend to $0.31 per share. Subject to shareholder approval, Energy East expects to complete its merger with Iberdrola in the first half of 2008.
This document provides a summary of Exelon Corporation's second quarter 2007 financial results and outlook. Key points include:
- Reported GAAP earnings of $702 million compared to $644 million in Q2 2006. Adjusted operating earnings were $700 million compared to $577 million.
- Affirmed full-year 2007 adjusted operating earnings guidance of $4.00-$4.30 per share. Revised GAAP earnings guidance to $3.70-$4.00 per share.
- Announced a comprehensive electric rate settlement in Illinois that provides $1 billion in rate relief for customers over multiple years. Generation will contribute funding as a one-time transition to market rates.
- Thermo Electron Corporation filed a quarterly report with the SEC for Q1 2006.
- In the report, they disclosed revenues of $684 million for Q1 2006 and net income of $46.9 million.
- They also noted that in May 2005, their Life and Laboratory Sciences segment acquired the Kendro Laboratory Products division of SPX Corporation.
- Thermo Electron Corporation filed a quarterly report with the SEC for Q1 2006.
- In the report, they disclosed revenues of $684 million for Q1 2006 and net income of $46.9 million.
- They also noted that in May 2005, their Life and Laboratory Sciences segment acquired the Kendro Laboratory Products division of SPX Corporation.
This document is Thermo Electron Corporation's Form 10-Q quarterly report filed with the SEC for the quarter ended July 1, 2006. It includes Thermo's consolidated balance sheet, income statement, and cash flow statement for the quarter, as well as notes to the financial statements. The financial statements show that for the quarter, Thermo's revenues increased 9% to $713 million, net income decreased 20% to $48 million, and earnings per share from continuing operations decreased 14% to $0.30. Thermo also announced a definitive agreement to merge with Fisher Scientific International in an all-stock transaction expected to close in the fourth quarter of 2006.
- Thermo Electron Corporation filed a Form 10-Q with the SEC for the quarter ended July 1, 2006.
- Thermo announced an agreement to merge with Fisher Scientific International in a stock-for-stock exchange to create Thermo Fisher Scientific.
- The merger is subject to shareholder and regulatory approvals and is expected to close in the fourth quarter of 2006.
This document is Thermo Electron Corporation's quarterly report filed with the SEC for the quarter ended September 30, 2006. It provides condensed financial statements and notes for the periods presented. The financial statements show revenues of $724.9 million for the quarter and income from continuing operations of $48.8 million. Notes include details on the planned merger with Fisher Scientific International and recent acquisitions completed during the periods.
This document is Thermo Electron Corporation's quarterly report filed with the SEC for the quarter ended September 30, 2006. It provides condensed financial statements and notes for the periods presented. The financial statements show that revenues increased from the prior year period but net income decreased due to higher costs and expenses. Thermo also announced a definitive agreement in May 2006 to combine with Fisher Scientific International in an all-stock merger transaction subject to regulatory approvals.
The document is Thermo Fisher Scientific's annual report on Form 10-K for the fiscal year ended December 31, 2006. It provides information on the company's business operations and financial performance. Specifically, it discusses Thermo Fisher's merger with Fisher Scientific to create a global leader in serving science. It also describes the company's two business segments - Analytical Technologies and Laboratory Products and Services - and provides an overview of key product lines within the Analytical Technologies segment, including scientific instruments, biosciences products, and diagnostic and environmental instruments.
The document is Thermo Fisher Scientific's annual report on Form 10-K for the fiscal year ended December 31, 2006. It provides information on the company's business operations and financial performance. Specifically, it discusses Thermo Fisher's merger with Fisher Scientific to create a global leader in serving science. It also describes the company's two business segments - Analytical Technologies and Laboratory Products and Services - and provides an overview of key product lines within the Analytical Technologies segment, including scientific instruments, biosciences products, and diagnostic and environmental instruments.
This document is Thermo Fisher Scientific's quarterly report filed with the SEC for the quarter ended March 31, 2007. It includes Thermo Fisher's consolidated balance sheet, statement of income, and notes on significant events from the quarter. The quarter saw revenues of $2.3 billion, operating income of $192 million, and net income of $139 million. Expenses increased along with revenues from the prior year quarter following Thermo Fisher's merger transactions.
This document is Thermo Fisher Scientific's quarterly report filed with the SEC for the quarter ended March 31, 2007. It includes Thermo Fisher's consolidated balance sheet, statement of income, and statement of cash flows for the quarter, as well as notes to the financial statements. The notes disclose that in the first quarter of 2007, Thermo Fisher acquired two businesses in Switzerland for $24 million and a small manufacturer of electrostatic discharge products for $5 million total. Thermo Fisher also paid $5 million for various acquisition-related costs and adjustments.
- Thermo Fisher Scientific Inc. filed a quarterly report with the SEC for the quarter ended June 30, 2007.
- The company reported revenues of $2.385.9 million for the quarter and income from continuing operations of $187.9 million.
- Thermo Fisher has major operations in scientific instrument manufacturing, life sciences, diagnostics, and laboratory products and services.
This document is Thermo Fisher Scientific's Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2007. It provides financial statements and notes including the consolidated balance sheet, statement of income, and statement of cash flows for the quarter, as well as information on acquisitions, accounting policies, and segment information. In the quarter, Thermo Fisher reported revenues of $2.4 billion, net income of $164 million, and earnings per share of $0.39. It also acquired Spectronex AG and Flux AG for $24 million in cash to expand its mass spectrometry offerings.
This document is Thermo Fisher Scientific's quarterly report filed with the SEC for the quarter ended September 29, 2007. It provides financial statements including the consolidated balance sheet, statement of income, and statement of cash flows. Key details include total revenues of $2.4 billion for the quarter, net income of $218.5 million, and cash and cash equivalents increasing to $830.8 million. It also summarizes two acquisitions completed in the first nine months of 2007, expanding analytical technologies offerings.
This document is Thermo Fisher Scientific's quarterly report filed with the SEC for the quarter ended September 29, 2007. It provides Thermo Fisher's consolidated balance sheet and income statement for the periods shown. The balance sheet shows the company had total assets of $21.2 billion, including $8.5 billion in goodwill. Total liabilities were $6.7 billion and shareholders' equity was $14.4 billion. The income statement shows revenues of $2.4 billion for the quarter and net income of $218.5 million.
This document is Thermo Fisher Scientific's annual report on Form 10-K for the fiscal year ended December 31, 2007. It provides information on Thermo Fisher's business, including that it was formed through the merger of Thermo Electron and Fisher Scientific in 2006. Thermo Fisher has two principal brands, Thermo Scientific and Fisher Scientific, that serve over 350,000 customers in various industries through analytical instruments, equipment, consumables and services. The report provides an overview of Thermo Fisher's products and services and its strategy to continuously advance its technologies and services to address customers' emerging needs.
The document is Thermo Fisher Scientific's annual report on Form 10-K for the fiscal year ended December 31, 2007. It provides information on the company's business segments and products. Specifically, it discusses the company's two business segments - Analytical Technologies and Laboratory Products and Services. It provides details on the various product groupings within the Analytical Technologies segment, which serves markets like pharmaceutical, biotechnology, academic, and clinical laboratories.
Thermo Fisher Scientific filed a Form 10-Q with the SEC for the quarter ended March 29, 2008. The filing includes financial statements and notes. The financial statements show that Thermo Fisher's revenues increased to $2.55 billion for the quarter, up from $2.34 billion in the same quarter the previous year. Net income was $233 million compared to $139 million in the prior year. Thermo Fisher also acquired the intellectual property of an immunohistochemistry control slide business during the quarter for $3 million in cash plus potential future payments of up to $2 million.
Thermo Fisher Scientific filed a Form 10-Q with the SEC for the quarter ended March 29, 2008. The filing includes financial statements and notes. The financial statements show that Thermo Fisher's revenues increased to $2.55 billion for the quarter, up from $2.34 billion in the same quarter of the prior year. Net income for the quarter was $233 million compared to $139 million in the prior year. Thermo Fisher also acquired the intellectual property of an immunohistochemistry control slide business during the quarter for $3 million in cash plus potential future payments of up to $2 million.
This document is a quarterly report filed with the SEC by Thermo Fisher Scientific Inc. for the quarter ended September 27, 2008. It includes Thermo Fisher's consolidated balance sheet, statement of income, and statement of cash flows for the periods presented. Some key details:
- Thermo Fisher reported revenues of $2.6 billion for the quarter and $7.9 billion for the nine months ended September 27, 2008.
- Net income was $221.5 million for the quarter and $704 million for the nine months.
- In the first nine months of 2008, Thermo Fisher made several acquisitions for aggregate consideration of $142 million in cash, plus $8 million of assumed debt and up to $19
This document is a quarterly report filed with the SEC by Thermo Fisher Scientific Inc. for the quarter ended September 27, 2008. It includes Thermo Fisher's consolidated balance sheet, statement of income, and statement of cash flows for the periods presented. Some key details:
- Thermo Fisher reported revenues of $2.6 billion for the third quarter of 2008 and $7.9 billion for the first nine months of 2008.
- Net income was $221.5 million for the third quarter and $704 million for the first nine months.
- Cash flows from operating activities totaled $960 million for the first nine months of 2008.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
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+12349014282
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
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Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
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+12349014282
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
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Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the what'sapp contact of my personal pi vendor
+12349014282
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
BONKMILLON Unleashes Its Bonkers Potential on Solana.pdfcoingabbar
Introducing BONKMILLON - The Most Bonkers Meme Coin Yet
Let's be real for a second – the world of meme coins can feel like a bit of a circus at times. Every other day, there's a new token promising to take you "to the moon" or offering some groundbreaking utility that'll change the game forever. But how many of them actually deliver on that hype?
BONKMILLON Unleashes Its Bonkers Potential on Solana.pdf
EnergyEastQ22007EarningsRelease
1. ENERGY EAST CORPORATION ANNOUNCES SECOND QUARTER 2007 FINANCIAL
RESULTS
PORTLAND, Maine, August 2, 2007 Energy East Corporation (NYSE: EAS) today
announced its second quarter 2007 financial results. Earnings per basic share for the
second quarter 2007 were $0.12 compared to $0.19 per share earned in the second
quarter 2006.
For the 12 months ended June 30, 2007, earnings per basic share were $1.68 per share
consistent with $1.68 per share for the 12 months ended June 30, 2006.
The primary factors driving year-over-year results in the second quarter were:
Impacts from the August 2006 NYSEG Rate Order
Exclusive of increased deliveries, electric margins declined 17 cents per share
primarily driven by the impacts of the August 2006 NYSEG electric rate order. This
rate order resulted in lower delivery rates and changes to NYSEG s Voice Your
Choice program.
Increased Electric and Natural Gas Margins
Electric margins increased by 5 cents per share versus 2006, driven by a 5%
increase in total retail sales. This improvement was due in part to favorable
weather compared to last year. Residential and industrial deliveries increased 7%
and 12% respectively.
Natural gas margins increased by 4 cents per share versus 2006. This was driven
by a 1% increase in retail deliveries and the impact of the Connecticut Natural Gas
rate settlement that was effective on April 1, 2007.
Operation & Maintenance Costs
During April, two severe storms hit Central Maine Power s service territory resulting
in significant customer outages and increased maintenance and repair costs. The
increased storm costs negatively impacted earnings by 3 cents per share.
During the quarter the company incurred costs of 3 cents per share associated with
the proposed merger with Iberdrola, which is discussed below.
Other
Interest costs declined by 3 cents per share on a year-over-year basis driven by
lower carrying costs on regulatory liabilities and savings from debt refinancings
completed in 2006.
In March 2007, Energy East issued 10 million shares of common stock to finance
previously announced infrastructure investments. This increase in shares
outstanding produced a negative impact of 1 cent per share for the quarter.
In addition, there were approximately 3 cents of other impacts that positively
affected earnings, including a reduction in bad debt expense
2. Recent Developments
Iberdrola Merger
On June 25, 2007, the company announced that it had entered into a merger
agreement with Iberdrola. Under the terms of the agreement Iberdrola would pay
$28.50 for each share of outstanding Energy East common stock. Iberdrola is one
of the world s largest energy companies and is a leading owner and operator of
renewable energy facilities, including the largest wind generation portfolio in the
world. The consummation of the merger, which is expected to be completed in
2008, is subject to various customary closing conditions and regulatory approvals.
On August 1, 2007, the company made many of the required state and federal
regulatory filings. The remaining filings are expected to be made over the next
several weeks.
Joint Proposal for NYSEG s Supply Service Filing
On July 10, 2007, the New York Public Service Commission (NYPSC) staff and
other interested parties submitted a joint proposal resolving all issues related to
NYSEG s Supply Service proposal, which was originally filed in April 2007. The
proposal provides customers the option to continue to receive a fixed price for
electricity from NYSEG.
Central Maine Power Alternative Rate Plan
On May 1, 2007, Central Maine Power filed an Alternative Rate Plan proposal to
replace the current rate plan that expires on December 31, 2007. This proposal
retains the basic structure of the current rate plan and incorporates the incremental
investment of $90 million in advanced metering infrastructure.
Further details on all of these recent developments as well as additional supplemental
financial information regarding second quarter results are available in the Financial
Information section of the Energy East website at www.energyeast.com. In addition, the
company will file its Form 10-Q today, which contains further details on second quarter and
year-to-date results.
FORWARD LOOKING STATEMENTS
This communication contains forward-looking information and statements about Energy East.
Forward-looking statements are statements that are not historical facts. These statements may
include financial projections and estimates and their underlying assumptions, statements regarding
plans, objectives and expectations with respect to future operations, products and services, and
statements regarding future performance. Forward-looking statements are generally identified by
the words quot;expects,quot; quot;anticipates,quot; quot;believes,quot; quot;intends,quot; quot;estimatesquot; and similar expressions.
Although the management of Energy East Corporation believes that the expectations reflected in
such forward- looking statements are reasonable, investors and holders of Energy East Corporation
shares are cautioned that forward-looking information and statements are subject to various risks
and uncertainties, many of which are difficult to predict and generally beyond the control of Energy
East Corporation, that could cause actual results and developments to differ materially from those
expressed in, or implied or projected by, the forward-looking information and statements. These
risks and uncertainties include those discussed or identified in the public documents sent by Energy
East to their regulators and under quot;Risk Factorsquot; in their annual and quarterly reports filed with the
SEC. Except as required by applicable law, Energy East undertakes no obligation to update any
forward-looking information or statements.
3. In connection with the proposed transaction with Iberdrola, S.A., Energy East will file a proxy
statement with the Securities and Exchange Commission. Before making any voting or investment
decision, investors and security holders of Energy East are urged to carefully read the entire proxy
statement, when it becomes available, and any other relevant documents filed with the Securities
and Exchange Commission, as well as any amendments or supplements to those documents,
because they will contain important information about the proposed transaction. A definitive proxy
statement will be sent to the shareholders of Energy East in connection with the proposed
transaction. Investors and security holders may obtain a free copy of the proxy statement (when
available) and other documents filed by Energy East at the Securities and Exchange Commission's
Web site at http://www.sec.gov. The proxy statement and such other documents may also be
obtained for free from Energy East by directing such request to Energy East, 52 Farm View Drive,
New Gloucester, ME 04260, Attention Marc Siwak.
Energy East, its directors, executive officers and other members of its management, employees,
and certain other persons may be deemed to be participants in the solicitation of proxies from
Energy East shareholders in connection with the proposed transaction. Information about the
interests of Energy East's participants in the solicitation is set forth in Energy East's proxy
statements and Annual Reports on Form 10-K, previously filed with the Securities and Exchange
Commission, and in the proxy statement relating to the transaction when it becomes available
About Energy East:
Energy East is a respected super-regional energy services and delivery company serving about 3
million customers throughout upstate New York and New England. By providing outstanding
customer service and meeting customers' energy requirements in an environmentally friendly
manner, Energy East will continue to be a valuable asset to the communities we serve.
Contact: Marc Siwak
Director Investor Relations
Energy East
207-688-4336
4. Energy East Corporation
Condensed Consolidated Statements of Income - (Unaudited)
Three Months Twelve Months
Periods ended June 30, 2007 2006 2007 2006
(Thousands, except per share amounts)
Operating Revenues
Utility $1,000,898 $4,836,613
$977,006 $4,718,605
Other 111,927 549,489
112,020 506,387
Total Operating Revenues 1,112,825 5,386,102
1,089,026 5,224,992
Operating Expenses
Electricity purchased and fuel used in generation
Utility 354,208 1,475,770
351,412 1,472,205
Other 84,237 373,803
85,164 353,791
Natural gas purchased
Utility 172,663 1,201,206
174,232 1,110,286
Other 9,560 103,252
12,120 80,632
Other operating expenses 202,174 814,562
203,503 801,295
Maintenance 43,750 199,857
48,809 216,855
Depreciation and amortization 70,061 280,640
68,273 280,176
Other taxes 58,265 250,627
58,787 252,204
Total Operating Expenses 994,918 4,699,717
1,002,300 4,567,444
Operating Income 117,907 686,385
86,726 657,548
Other (Income) (6,910) (39,765)
(10,752) (48,523)
Other Deductions 4,131 14,419
1,423 21,085
Interest Charges, Net 75,142 300,741
67,855 291,217
Preferred Stock Dividends of Subsidiaries 283 1,130
282 1,129
Income Before Income Taxes 45,261 409,860
27,918 392,640
Income Taxes 16,976 163,232
8,427 141,549
Net Income $28,285 $246,628
$19,491 $251,091
$.19 $1.68
$.12 $1.68
Earnings per Share, basic
$.19 $1.67
$.12 $1.67
Earnings per Share, diluted
Dividends Declared per Share $.29 $1.145
$.30 $1.19
Average Common Shares Outstanding, basic 146,903 147,022
157,112 149,627
Average Common Shares Outstanding, diluted 147,678 147,665
158,122 150,500
5. Energy East Corporation
Energy Delivery Statistics - (Unaudited)
Electricity Deliveries (MWh) Natural Gas Deliveries (Dth)
Three months ended June 30, 2007 2006 Change 2007 2006 Change
(Thousands)
Residential 2,609 7% 11,139 3%
2,784 11,493
Commercial 2,433 2% 3,848 10%
2,470 4,234
Industrial 1,740 12% 547 (1%)
1,945 539
Other 591 (8%) 2,982 (10%)
545 2,698
Transportation of customer-
owned natural gas NA NA 17,121 (1%)
NA 16,885
Total Retail 7,373 5% 35,637 1%
7,744 35,849
Wholesale 2,485 (28%) 45 493%
1,783 267
Total Deliveries 9,858 (3%) 35,682 1%
9,527 36,116
Electricity Deliveries (MWh) Natural Gas Deliveries (Dth)
12 months ended June 30, 2007 2006 Change 2007 2006 Change
(Thousands)
Residential 12,125 2% 70,636 7%
12,428 75,846
Commercial 9,630 3% 23,904 7%
9,887 25,567
Industrial 7,149 NA 3,529 1%
7,167 3,564
Other 2,229 1% 12,892 5%
2,249 13,494
Transportation of customer-
owned natural gas NA NA 77,955 77,318 1%
NA
Total Retail 31,133 2% 196,426 188,279 4%
31,731
Wholesale 9,317 (14%) 111 475%
8,050 638
Total Deliveries 40,450 (2%) 197,064 188,390 5%
39,781
Energy East Corporation
Weather Statistics (Unaudited)
Three Months
Periods ended June 30, 2007 2006 Normal
New York
Total heating degree days 846 957
910
Colder than prior year 8%
(Warmer) than normal (5%)
New England
Total heating degree days 728 835
824
Colder than prior year 13%
(Warmer) than normal (1%)