Third Quarter Gas Segment Results
Gas segment gross margin (gas revenues less the cost of natural gas sold and transported) decreased $0.1 million during the second quarter of 2012 compared to 2011. Gas operating expenses were approximately $0.2 million lower, due primarily to decreased transmission and distribution operating expenses and customer accounts expenses. Maintenance and depreciation expenses were relatively unchanged during the quarter. Net income for the gas segment was relatively unchanged during the 2012 quarter compared to 2011.
Third Quarter Consolidated Results
Total interest expense decreased approximately $0.9 million during the 2012 quarter when compared to the 2011 quarter, primarily due to a decrease in long-term debt interest expense resulting from the refinancing of debt at more favorable interest rates. Other income and deductions were higher by $0.6 million during the 2012 quarter.
|THE EMPIRE DISTRICT ELECTRIC COMPANY SEGMENT FINANCIAL HIGHLIGHTS (in 000’s except per share information, certain segment amounts exclude eliminations )|
|Twelve Months Ended September 30, 2012|
|Revenues||$ 514,515||$ 39,571||$ 7,249||$ 560,743|
|Fuel, Purchased Power, and Cost of Natural Gas Sold and Transported||183,288||18,384||––||201,672|
|Other Operating Expenses||241,473||16,192||5,641||262,714|
|Net Income||$ 51,870||$ 1,244||$ 1,631||$ 54,745|
|Earnings Per Weighted-Average Share, Basic and Diluted||$1.30|
|Twelve Months Ended September 30, 2011|
|Revenues||$ 523,177||$ 47,750||$ 6,584||$ 576,919|
|Fuel, Purchased Power, and Cost of Natural Gas Sold and Transported||202,835||23,662||––||226,497|
|Other Operating Expenses||233,084||17,457||4,777||254,726|
|Net Income||$ 50,340||$ 2,840||$ 1,560||$ 54,740|
|Earnings Per Weighted-Average Share, Basic and Diluted||$1.31|
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