Atmos Energy Corporation Reports Earnings For Fiscal 2013 First Quarter; Company Affirms Fiscal 2013 Guidance

About Atmos Energy

Atmos Energy Corporation, headquartered in Dallas, is one of the country's largest natural-gas-only distributors, serving over three million natural gas distribution customers in over 1,400 communities in nine states from the Blue Ridge Mountains in the East to the Rocky Mountains in the West. Atmos Energy also provides natural gas marketing and procurement services to industrial, commercial and municipal customers primarily in the Midwest and Southeast and manages company-owned natural gas pipeline and storage assets, including one of the largest intrastate natural gas pipeline systems in Texas. For more information, visit www.atmosenergy.com.

Atmos Energy Corporation
Financial Highlights (Unaudited)
Statements of Income					Three Months EndedDecember 31								Percentage
(000s except per share)						2012				2011			Change
Gross Profit:
Natural gas distribution segment					$	279,631			$	283,595			(1	)%
Regulated transmission and storage segment						60,681				56,759			7	%
Nonregulated segment						22,459				15,405			46	%
Intersegment eliminations						(409	)			(367	)		(11	)%
Gross profit						362,362				355,392			2	%
Operation and maintenance expense						106,527				114,644			(7	)%
Depreciation and amortization						59,579				58,366			2	%
Taxes, other than income						41,334				42,911			(4	)%
Total operating expenses						207,440				215,921			(4	)%
Operating income						154,922				139,471			11	%
Miscellaneous income (expense)						698				(2,016	)		135	%
Interest charges						30,522				35,726			(15	)%
Income from continuing operations
before income taxes						125,098				101,729			23	%
Income tax expense						47,750				39,345			21	%
Income from continuing operations						77,348				62,384			24	%
Income from discontinued operations, net of tax						3,117				6,123			(49	)%
Net income					$	80,465			$	68,507			17	%
Basic earnings per share
Income per share from continuing operations					$	0.85			$	0.68
Income per share from discontinued operations						0.04				0.07
Net income per share – basic					$	0.89			$	0.75
Diluted earnings per share
Income per share from continuing operations					$	0.85			$	0.68
Income per share from discontinued operations						0.03				0.07
Net income per share – diluted					$	0.88			$	0.75
Cash dividends per share					$	0.350			$	0.345
Weighted average shares outstanding:
Basic						90,359				90,254
Diluted						91,309				90,546
					Three Months EndedDecember 31								Percentage
Summary Net Income (Loss) by Segment (000s )						2012				2011			Change
Natural gas distribution – continuing operations					$	53,093			$	44,501			19	%
Natural gas distribution – discontinued operations						3,117				6,123			(49	)%
Regulated transmission and storage						16,105				13,414			20	%
Nonregulated						(4,603	)			(8,501	)		46	%
Unrealized margins, net of tax						12,753				12,970			(2	)%
Consolidated net income					$	80,465			$	68,507			17	%

Atmos Energy Corporation
Financial Highlights, continued (Unaudited)
Discontinued Operations		Three Months Ended
(000s)		December 31
			2012			2011
Operating revenues		$	16,284		$	40,630
Purchased gas cost			8,967			24,640
Gross profit			7,317			15,990
Operating expenses			2,820			6,728
Operating income			4,497			9,262
Other nonoperating income			348			377
Income from discontinued operations before
income taxes			4,845			9,639
Income tax expense			1,728			3,516
Net income from discontinued operations		$	3,117		$	6,123

Atmos Energy Corporation
Financial Highlights, continued (Unaudited)
Condensed Balance Sheets		December 31,			September 30,
(000s)			2012			2012
Net property, plant and equipment		$	5,595,294		$	5,475,604
Cash and cash equivalents			124,601			64,239
Accounts receivable, net			500,863			234,526
Gas stored underground			274,126			256,415
Other current assets			265,044			272,782
Total current assets			1,164,634			827,962
Goodwill and intangible assets			740,836			740,847
Deferred charges and other assets			463,454			451,262
		$	7,964,218		$	7,495,675
Shareholders’ equity		$	2,424,005		$	2,359,243
Long-term debt			1,956,376			1,956,305
Total capitalization			4,380,381			4,315,548
Accounts payable and accrued liabilities			367,312			215,229
Other current liabilities			446,717			489,665
Short-term debt			830,891			570,929
Current maturities of long-term debt			131			131
Total current liabilities			1,645,051			1,275,954
Deferred income taxes			1,066,273			1,015,083
Deferred credits and other liabilities			872,513			889,090
		$	7,964,218		$	7,495,675

Atmos Energy Corporation
Financial Highlights, continued (Unaudited)
Condensed Statements of Cash Flows				Three Months EndedDecember 31
(000s)					2012				2011
Cash flows from operating activities
Net income				$	80,465			$	68,507
Depreciation and amortization					60,628				60,811
Deferred income taxes					45,951				40,042
Other					3,242				4,692
Changes in assets and liabilities					(160,428	)			(189,343	)
Net cash provided (used) by operating activities					29,858				(15,291	)
Cash flows from investing activities
Capital expenditures					(190,027	)			(154,394	)
Other, net					(1,273	)			(1,080	)
Net cash used in investing activities					(191,300	)			(155,474	)
Cash flows from financing activities
Net increase in short-term debt					256,933				173,905
Repayment of long-term debt					—				(2,303	)
Cash dividends paid					(31,992	)			(31,517	)
Repurchase of common stock					—				(12,535	)
Repurchase of equity awards					(3,124	)			(3,120	)
Issuance of common stock					(13	)			76
Net cash provided by financing activities					221,804				124,506
Net increase (decrease) in cash and cash equivalents					60,362				(46,259	)
Cash and cash equivalents at beginning of period					64,239				131,419
Cash and cash equivalents at end of period				$	124,601			$	85,160
				Three Months EndedDecember 31
Statistics, including discontinued operations					2012				2011
Consolidated natural gas distributionthroughput (MMcf as metered)					113,699				121,748
Consolidated regulated transmission and storagetransportation volumes (MMcf)					108,743				105,037
Consolidated nonregulated delivered gas salesvolumes (MMcf)					84,718				90,870
Natural gas distribution meters in service					3,137,298				3,203,008
Natural gas distribution average cost of gas				$	4.93			$	4.78
Nonregulated net physical position (Bcf)					25.8				35.6

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