South Jersey Industries (SJIIU) 8-K Results of Operations and Financial Condition

		Source: Stephen H. Clark, Marissa Travaline	609-561-9000
		South Jersey Industries
		Market: N
		Stock Symbol: SJI
		South Jersey Industries, Inc. and Subsidiaries
		Comparative Earnings Statements
		(In Thousands Except for Per Share Data)
		UNAUDITED
			Three Months Ended
			December 31,
			2015	2014
Operating Revenues:
	Utility		$ 129,431	$ 160,764
	Nonutility		128,413	120,333
		Total Operating Revenues	257,844	281,097
Operating Expenses:
	Cost of Sales - (Excluding depreciation)
	- Utility		48,080	79,188
	- Nonutility		79,486	74,606
	Operations		39,859	40,319

	Maintenance		4,069	3,742
	Depreciation		19,780	16,461
	Energy and Other Taxes		1,334	1,330
		Total Operating Expenses	192,608	215,646
Operating Income			65,236	65,451
Other Income and Expense			1,988	1,847
Interest Charges			(7,440)	(8,862)
Income Before Income Taxes			59,784	58,436
Income Taxes			1,006	(10,415)
Equity in Loss of Affiliated Companies			(9,842)	(4,029)
Income from Continuing Operations			50,948	43,992
Loss from Discontinued Operations - (Net of tax benefit)			(62)	(69)
		Net Income	$ 50,886	$ 43,923
Basic Earnings per Common Share:

	Continuing Operations		$ 0.73	$ 0.66
	Discontinued Operations		0	0
		Basic Earnings per Common Share	$ 0.73	$ 0.66
Average Shares of Common Stock Outstanding - Basic			69,460	67,304
Diluted Earnings per Common Share:
	Continuing Operations		$ 0.73	$ 0.65
	Discontinued Operations		0	0
		Diluted Earnings per Common Share	$ 0.73	$ 0.65
				��
Average Shares of Common Stock Outstanding - Diluted			69,646	67,454
			Twelve Months Ended

			December 31,
			2015	2014
Operating Revenues:
	Utility		$ 528,763	$ 500,752
	Nonutility		430,805	386,244
		Total Operating Revenues	959,568	886,996
Operating Expenses:
	Cost of Sales - (Excluding depreciation)
	- Utility		239,763	230,093
	- Nonutility		319,579	306,859
	Operations		148,672	140,260
	Maintenance		16,183	13,457
	Depreciation		72,451	63,004
	Energy and Other Taxes		6,026	5,720
		Total Operating Expenses	802,674	759,393
Operating Income			156,894	127,603
Other Income and Expense			9,510	11,819
Interest Charges			(31,622)	(29,560)

Income Before Income Taxes			134,782	109,862
Income Taxes			(1,360)	(4,449)
Equity in Loss of Affiliated Companies			(27,812)	(7,785)
Income from Continuing Operations			105,610	97,628
Loss from Discontinued Operations - (Net of tax benefit)			(503)	(582)
		Net Income	$ 105,107	$ 97,046
Basic Earnings per Common Share:
	Continuing Operations		$ 1.54	$ 1.47
	Discontinued Operations		(0.01)	(0.01)
		Basic Earnings per Common Share	$ 1.53	$ 1.46
Average Shares of Common Stock Outstanding - Basic			68,735	66,278
Diluted Earnings per Common Share:
	Continuing Operations		$ 1.53	$ 1.47
	Discontinued Operations		(0.01)	(0.01)

	Diluted Earnings per Common Share	$ 1.52	$ 1.46
Average Shares of Common Stock Outstanding - Diluted		68,931	66,428