| 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 | |||||||
| June 30, | |||||||
| 2016 | 2,015 | ||||||
| Operating Revenues: | |||||||
| Utility | $ 68,273 | $ | 75,294 | ||||
| Nonutility | 86,129 | 102,416 | |||||
| Total Operating Revenues | 154,402 | 177,710 | |||||
| Operating Expenses: | |||||||
| Cost of Sales - (Excluding depreciation) | |||||||
| - Utility | 19,508 | 24,901 | |||||
| - Nonutility | 78,832 | 66,044 | |||||
| Operations | 36,250 | 33,802 | |||||
| Maintenance | 4,259 | 3,928 | |||||
| Depreciation | 22,296 | 17,430 | |||||
| Energy and Other Taxes | 1,243 | 1,265 | |||||
| Total Operating Expenses | 162,388 | 147,370 | |||||
| Operating (Loss) Income | (7,986) | 30,340 | |||||
| Other Income and Expense | 4,361 | 3,040 | |||||
| Interest Charges | (8,229) | (7,474 | ) | ||||
| (Loss) Income Before Income Taxes | (11,854) | 25,906 | |||||
| Income Taxes | 7,189 | 3,279 | |||||
| Losses in Earnings of Affiliated Companies | (133) | (15,844 | ) | ||||
| (Loss) Income from Continuing Operations | (4,798) | 13,341 | |||||
| Loss from Discontinued Operations - (Net of tax benefit) | (29) | (74 | ) | ||||
| Net (Loss) Income | $ (4,827) | $ | 13,267 | ||||
| Basic Earnings per Common Share: | |||||||
| Continuing Operations | $ (0.06) | $ | 0.19 | ||||
| Discontinued Operations | — | — | |||||
| Basic Earnings per Common Share | $ (0.06) | $ | 0.19 | ||||
| Average Shares of Common Stock Outstanding - Basic | 75,298 | 68,467 | |||||
| Diluted Earnings per Common Share: | |||||||
| Continuing Operations | $ (0.06) | $ | 0.19 | ||||
| Discontinued Operations | — | — | |||||
| Diluted Earnings per Common Share | $ (0.06) | $ | 0.19 | ||||
| Average Shares of Common Stock Outstanding - Diluted | 75,298 | 68,653 | |||||
| Six Months Ended | |||||||
| June 30, | |||||||
| 2016 | 2,015 | ||||||
| Operating Revenues: | |||||||
| Utility | $ 251,942 | $ | 341,824 | ||||
| Nonutility | 235,495 | 218,838 | |||||
| Total Operating Revenues | 487,437 | 560,662 | |||||
| Operating Expenses: | |||||||
| Cost of Sales - (Excluding depreciation) | |||||||
| - Utility | 84,714 | 169,875 | |||||
| - Nonutility | 166,601 | 162,777 | |||||
| Operations | 75,047 | 75,663 | |||||
| Maintenance | 8,643 | 7,926 | |||||
| Depreciation | 42,997 | 34,249 | |||||
| Energy and Other Taxes | 3,168 | 3,461 | |||||
| Total Operating Expenses | 381,170 | 453,951 | |||||
| Operating Income | 106,267 | 106,711 | |||||
| Other Income and Expense | 6,564 | 5,281 | |||||
| Interest Charges | (17,389) | (16,075 | ) | ||||
| Income Before Income Taxes | 95,442 | 95,917 | |||||
| Income Taxes | (32,078) | (13,334 | ) | ||||
| Equity in Earnings (Losses) of Affiliated Companies | 25 | (15,389 | ) | ||||
| Income from Continuing Operations | 63,389 | 67,194 | |||||
| Loss from Discontinued Operations - (Net of tax benefit) | (147) | (350 | ) | ||||
| Net Income | $ (63,242) | $ | 66,844 | ||||
| Basic Earnings per Common Share: | |||||||
| Continuing Operations | $ 0.86 | $ | 0.98 | ||||
| Discontinued Operations | — | — | |||||
| Basic Earnings per Common Share | $ 0.86 | $ | 0.98 | ||||
| Average Shares of Common Stock Outstanding - Basic | 73,213 | 68,432 | |||||
| Diluted Earnings per Common Share: | |||||||
| Continuing Operations | $ 0.86 | $ | 0.98 | ||||
| Discontinued Operations | — | — | |||||
| Diluted Earnings per Common Share | $ 0.86 | $ | 0.98 | ||||
| Average Shares of Common Stock Outstanding - Diluted | 73,506 | 68,636 | |||||
