The Utility segment’s earnings of $58.6 million, or $0.70 per share, for the fiscal year ended September 30, 2012, decreased from earnings of $63.2 million, or $0.76 per share, for the fiscal year ended September 30, 2011. Warmer weather in Pennsylvania was the main reason for the decrease in earnings. Temperatures in Pennsylvania were 21.4 percent warmer in the fiscal year ended September 30, 2012, than the prior fiscal year. Higher depreciation expense also reduced earnings. The decrease in earnings was partially offset by the impact of certain regulatory adjustments in the prior fiscal year that did not recur, lower interest expense on deferred gas costs and lower income tax expense.Energy Marketing Segment
National Fuel Reports 2012 Earnings
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