Atmos Energy Corporation (NYSE: ATO) today reported consolidated results for its fiscal 2013 third quarter and nine months ended June 30, 2013.
- Fiscal 2013 third quarter consolidated net income, excluding net unrealized margins and a gain on sale, was $39.4 million, or $0.42 per diluted share, compared with net income, excluding net unrealized margins of $29.3 million, or $0.32 per diluted share in the prior-year quarter.
- Fiscal 2013 third quarter net income includes a net gain on the sale of the Georgia assets of $5.3 million, or $0.06 per diluted share.
- After including noncash, unrealized net losses of $5.9 million, or $(0.06) per diluted share and the gain on sale, fiscal 2013 third quarter net income was $38.8 million, or $0.42 per diluted share. Prior-year quarter net income was $31.1 million, or $0.34 per diluted share, after including unrealized net gains of $1.8 million or $0.02 per diluted share.
- As anticipated, net income for the quarter increased due to rate design changes recently implemented in the Texas service areas, which shift margins from the first half of the fiscal year into the third and fourth quarters.
For the nine months ended June 30, 2013, consolidated net income was $235.7 million, or $2.57 per diluted share, compared with net income of $208.8 million, or $2.28 per diluted share for the same period last year. Excluding the net gain on the sale of the Georgia assets of $5.3 million, or $0.06 per diluted share and the noncash unrealized net gains of $9.7 million, or $0.11 per diluted share, consolidated net income was $220.7 million, or $2.40 per diluted share for the nine months ended June 30, 2013. Prior-year net income, excluding noncash unrealized net gains of $7.1 million, or $0.08 per diluted share, was $201.7 million, or $2.20 per diluted share. For the current nine-month period, regulated operations contributed $223.7 million of net income, or $2.44 per diluted share, and nonregulated operations contributed net income of $12.0 million, or $0.13 per diluted share.
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