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

SOURCE: STEPHEN H. CLARK			609-561-9000
MARISSA TRAVALINE
COMPANY NAME: SOUTH JERSEY INDUSTRIES, INC.
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
		March 31,
		2016		2,015
Operating Revenues:
Utility		$ 183,669		$	266,530
Nonutility		149,366		116,422
Total Operating Revenues		333,035		382,952
Operating Expenses:
Cost of Sales - (Excluding depreciation)
- Utility		65,206		144,974
- Nonutility		87,769		96,733
Operations		38,797		41,861
Maintenance		4,384		3,998
Depreciation		20,701		16,819
Energy and Other Taxes		1,925		2,196
Total Operating Expenses		218,782		306,581
Operating Income		114,253		76,371
Other Income and Expense		2,203		2,241
Interest Charges		(9,160)		(8,601		)
Income Before Income Taxes		107,296		70,011
Income Taxes		(39,267)		(16,613		)
Equity in Earnings of Affiliated Companies		158		455
Income from Continuing Operations		68,187		53,853
Loss from Discontinued Operations - (Net of tax benefit)		(118)		(276		)

Net Income	$ 68,069	$	53,577
Basic Earnings per Common Share:
Continuing Operations	$ 0.96	$	0.79
Discontinued Operations	—	—
Basic Earnings per Common Share	$ 0.96	$	0.79
Average Shares of Common Stock - Basic	71,127	68,397
Diluted Earnings per Common Share:
Continuing Operations	$ 0.95	$	0.79
Discontinued Operations	—	—
Diluted Earnings per Common Share	$ 0.95	$	0.79
Average Shares of Common Stock Outstanding - Diluted	71,416	68,618