This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

New Jersey Resources Announces Fiscal 2013 First-Quarter Earnings; Reaffirms Fiscal 2013 Earnings Guidance

New Jersey Resources (NYSE: NJR) today reported net financial earnings for the first quarter of fiscal 2013 and reaffirmed earnings guidance for fiscal 2013.

A reconciliation of net income to net financial earnings for the first quarter of fiscal years 2013 and 2012 is provided below.
        Three Months Ended
December 31,
(Thousands)           2012         2011  
Net income $ 60,206     $ 57,357
Add:
Unrealized (gain) on derivative instruments and relatedtransactions, net of taxes (11,594 ) (17,372 )
 
Effects of economic hedging related to natural gas inventory, net of taxes   (13,119 )   5,323  
Net financial earnings $ 35,493   $ 45,308  
 
Weighted Average Shares Outstanding
Basic 41,695 41,434
Diluted   41,758     41,651  
 
Basic earnings per share $ 1.44   $ 1.38  
Basic net financial earnings per share $ .85   $ 1.09  
 

Net financial earnings is a financial measure not calculated in accordance with generally accepted accounting principles (GAAP) of the United States as it excludes all unrealized, and certain realized, gains and losses associated with derivative instruments. For further discussion of this financial measure, as well as reconciliation to the most comparable GAAP measure, please see the explanation below under “Additional Non-GAAP Financial Information.”
  • NJR Reports Net Financial Earnings

First-quarter net financial earnings for fiscal 2013 at NJR were $35.5 million, or $.85 per share, compared with $45.3 million, or $1.09 per share, during the same period last year. This decrease, which was expected, is due primarily to lower earnings at NJR Clean Energy Ventures and NJR Energy Services.

1 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,102.38 -272.38 -1.66%
S&P 500 1,921.22 -29.91 -1.53%
NASDAQ 4,683.9190 -49.5780 -1.05%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs