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TheStreet Open House

Atmos Energy Corporation Reports Earnings For Fiscal 2013 And Initiates Fiscal 2014 Guidance; Raises Dividend 5.7 Percent

Atmos Energy Corporation (NYSE: ATO) today reported consolidated results for its 2013 fiscal year and fourth quarter ended September 30, 2013.

  • Fiscal 2013 consolidated net income, excluding net unrealized margins and a gain on sale, was $232.6 million, or $2.53 per diluted share, compared with consolidated net income of $211.4 million, or $2.31 per diluted share in the prior year, excluding net unrealized margins and the net positive impact of several one-time items, including a gain on sale.
  • Fiscal 2013 net income includes a net gain on the sale of the Georgia assets of $5.3 million, or $0.06 per diluted share. Fiscal 2012 net income included a net gain on the sale of the Missouri, Illinois and Iowa assets of $6.3 million, or $0.07 per diluted share and the net positive impact of several one-time items totaling $4.0 million, or $0.04 per diluted share.
  • Fiscal 2013 net income was $243.2 million, or $2.64 per diluted share, after including noncash, unrealized net gains of $5.3 million, or $0.05 per diluted share and the gain on sale. Net income was $216.7 million, or $2.37 per diluted share in the prior year, after including unrealized net losses of $5.0 million or $(0.05) per diluted share and the net positive impact of several one-time items, including the gain on sale.
  • Atmos Energy expects fiscal 2014 earnings to be in the range of $2.66 to $2.76 per diluted share, excluding net unrealized margins.
  • The company‚Äôs Board of Directors has declared a quarterly dividend of 37 cents per common share. The indicated annual dividend for fiscal 2014 is $1.48, which represents a 5.7 percent increase.

For the quarter ended September 30, 2013, consolidated net income was $7.5 million, or $0.08 per diluted share, compared with net income of $8.0 million, or $0.09 per diluted share for the same quarter last year. Results from nonregulated operations include noncash, unrealized net losses of $4.1 million, or $(0.05) per diluted share for the three months ended September 30, 2013, compared with net losses of $12.4 million, or $(0.14) per diluted share for the prior-year quarter. The prior year fourth quarter net income includes the aforementioned gain on the sale of Missouri, Illinois and Iowa assets totaling $6.3 million, or $0.07 per diluted share and the net positive impact of several one-time items totaling $4.0 million or $0.04 per diluted share.

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