UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 9, 2007
Commission | Registrant, State of Incorporation, | I.R.S. Employer |
File Number | Address and Telephone Number | Identification No. |
1-8809 | SCANA Corporation | 57-0784499 |
(a South Carolina corporation) | ||
1426 Main Street, Columbia, South Carolina 29201 | ||
(803) 217-9000 | ||
1-3375 | South Carolina Electric & Gas Company | 57-0248695 |
(a South Carolina corporation) | ||
1426 Main Street, Columbia, South Carolina 29201 | ||
(803) 217-9000 |
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
This combined Form 8-K is separately furnished by SCANA Corporation and South Carolina Electric & Gas Company. Information contained herein relating to any individual company is furnished by such company on its own behalf. Each company makes no representation as to information relating to the other company.
Item 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On February 9, 2007, SCANA Corporation (together with its subsidiaries, the “Company”) issued the press release attached hereto as Exhibit 99.1. The press release discloses a non-GAAP measure, GAAP-adjusted net earnings from operations, which in 2006 excludes from net income (i) the cumulative effect of the Company’s adoption of Statement of Financial Accounting Standards 123(R), “Share-Based Payment,” and (ii) the favorable settlement of certain litigation and in 2005 excludes from net income the effects of sales of certain investments. The Company’s management believes that GAAP-adjusted net earnings from operations provides a meaningful representation of the Company’s fundamental earnings power and can aid in performing period-over-period financial analysis and comparison with peer group data. In management’s opinion, GAAP-adjusted net earnings from operations is a useful indicator of the financial results of the Company’s primary businesses. This measure is also a basis for management’s provision of earnings guidance and growth projections, and it is used by management in making resource allocation and other budgetary and operational decisions. This non-GAAP performance measure is not intended to replace the GAAP measure of net earnings, but is offered as a supplement to it.
Item 8.01 OTHER EVENTS
a. On February 9, 2007, the Company posted information titled “2007 - 2009 Projections for Capital Expenditures and Cash Flow” to its website at www.scana.com. That information is attached hereto as Exhibit 99.2.
b. In January 2007, Public Service Company of North Carolina, Incorporated (PSNC Energy), a subsidiary of SCANA Corporation, ceased to be a reporting company under the Securities Exchange Act of 1934. However, PSNC Energy expects to post financial statements periodically to its website at www.psncenergy.com. Such financial statements are expected to be posted no later than 90 days after December 31 for annual periods and no later than 60 days after March 31, June 30 and September 30,
as applicable, for quarterly periods.
Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
Exhibit 99.1 Press release dated February 9, 2007
Exhibit 99.2 2007 - 2009 Projections for Capital Expenditures and Cash Flow
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, each of the registrants has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. The signature of each registrant shall be deemed to relate only to matters having reference to such registrant and any subsidiaries thereof.
| SCANA Corporation | ||
| South Carolina Electric & Gas Company | ||
| (Registrants) | ||
| February 9, 2007 | By: | /s/James E. Swan, IV | |
| James E. Swan, IV | |||
| Controller |
EXHIBIT INDEX
Number
| 99.1 | Press release dated February 9, 2007 |
| 99.2 | 2007 - 2009 Projections for Capital Expenditures and Cash Flow |