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The Empire District Electric Company Third Quarter 2012 Earnings Report, Declaration Of Dividend And Earnings Guidance Update

This reconciliation and margin information may not be comparable to other companies or more useful than the GAAP presentation included in the statements of income. We also note that the presentation below does not purport to be an alternative to EPS determined in accordance with GAAP as a measure of operating performance or any other measure of financial performance presented in accordance with GAAP. Management compensates for the limitations of using non-GAAP financial measures by using them to supplement GAAP results to provide a more complete understanding of the factors and trends affecting the business than GAAP results alone. The dilutive effect of additional shares issued in this table reflects the impact of all shares issued in the respective periods presented.

       

Quarter Ended

Twelve Months Ended

Basic Earnings Per Share – September 30, 2011 $ 0.60 $ 1.31
Revenues
Electric segment (0.07 ) (0.13 )
Gas segment 0.00 (0.12 )
Other segment   0.00     0.01  
Total Revenue (0.07 ) (0.24 )
 
Electric fuel and purchased power 0.09 0.29
Cost of natural gas sold and transported   0.00     0.08  
Gross Margin 0.02 0.13
 
Expenses
Operating – electric segment (0.01 ) (0.16 )
Operating – gas segment 0.00 0.00
Operating - other segment 0.00 (0.01 )
Maintenance and repairs (0.02 ) (0.03 )
Depreciation and amortization (0.01 ) 0.10
Other taxes 0.00 (0.01 )
Interest charges 0.01 0.01
AFUDC 0.00 (0.03 )
Change in effective income tax rates 0.01 (0.02 )
Other income and deductions 0.01 0.02
Dilutive effect of additional shares   (0.01 )   (0.01 )
 
Basic Earnings Per Share – September 30, 2012 $ 0.60   $ 1.30  
 

Earnings Guidance Update

We are revising our full-year 2012 earnings guidance range from $1.13 to $1.27 per share to $1.18 to $1.27 per share, primarily as a result of favorable summer weather. Our 2012 guidance range assumes 30-year average weather and flat overall system customer growth through the remainder of the year. In addition, as previously noted, other factors that may impact earnings include the speed of recovery in the tornado-impacted area of Joplin, Missouri, and unanticipated or unplanned events that may impact operating and maintenance costs. The effects of assumptions and other factors evaluated for the purpose of providing guidance are not necessarily independent of one another, and the combination of effects can cause individual impacts smaller or larger than the indicated guidance range.

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