CONFERENCE CALL AND WEBCAST
Black Hills Corp. will host a live conference call and webcast at 11 a.m. EDT on Tuesday, Aug. 7, 2012, to discuss the company’s financial and operating performance.
To access the live webcast and download a copy of the investor presentation, go to the Black Hills website at www.blackhillscorp.com, and click on “Webcast” in the “Investor Relations” section. The presentation will be posted on the website before the webcast. Listeners should allow at least five minutes for registering and accessing the presentation. Those interested in asking a question during the live broadcast or those without Internet access can call 800-688-0836 if calling within the United States. International callers can call 617-614-4072. All callers need to enter the pass code 52955387 when prompted.
For those unable to listen to the live broadcast, a replay will be available on the company’s website or by telephone through Tuesday, Aug. 21, 2012, at 888-286-8010 in the United States and at 617-801-6888 for international callers. The replay pass code is 52411402.BUSINESS UNIT PERFORMANCE SUMMARY Business Group highlights for the three months ended June 30, 2012, compared to the three months ended June 30, 2011, are discussed below. The following business group and segment information does not include certain intercompany eliminations or discontinued operations. Minor differences in comparative amounts may result due to rounding. All amounts are presented on a pre-tax basis unless otherwise indicated. Prior period information has been revised to reclassify information related to discontinued operations. Utilities Group Income from continuing operations for the Utilities Group for the second quarter ended June 30, 2012, was $15.4 million, compared to $13.0 million in 2011.
|Three Months Ended||Six Months Ended|
|June 30,||Variance||June 30,||Variance|
|2012||2011||2012 vs. 2011||2012||2011||2012 vs. 2011|
|Operations and maintenance||36.9||34.2||2.7||76.1||71.3||4.8|
|Depreciation and amortization||18.7||13.0||5.7||37.6||25.8||11.8|
|Interest expense, net||(12.3||)||(10.1||)||(2.2||)||(25.5||)||(20.1||)||(5.4||)|
|Other (income) expense, net||0.3||(0.1||)||0.4||1.0||0.4||0.6|
|Income tax benefit (expense)||(6.5||)||(3.9||)||(2.6||)||(12.6||)||(8.3||)||(4.3||)|
|Income (loss) from continuing operations||$||14.2||$||8.6||$||5.6||$||22.9||$||18.9||$||4.0|
|Three Months Ended June 30,||Six Months Ended June 30,|
|Retail sales - MWh||1,126,396||1,077,980||2,245,206||2,224,162|
|Contracted wholesale sales - MWh||72,006||82,253||161,054||172,212|
|Off-system sales - MWh||355,123||452,772||882,670||857,616|
|Total electric sales - MWh||1,553,525||1,613,005||3,288,930||3,253,990|
|Total gas sales - Cheyenne Light - Dth||643,221||939,928||2,430,979||2,888,633|
|Regulated power plant availability:|
|Coal-fired plants (a)||81.0||%||88.6||%||86.0||%||89.9||%|
|Other plants (b)||96.4||%||89.9||%||95.7||%||94.3||%|
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