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,
		2017				2016
Operating Revenues:
Utility		$	195,769			$	183,669
Nonutility		230,060				149,366
Total Operating Revenues		425,829				333,035
Operating Expenses:
Cost of Sales - (Excluding depreciation)
- Utility		71,379				65,206
- Nonutility		215,763				87,769
Operations		39,626				38,797
Maintenance		4,981				4,384
Depreciation		24,323				20,701
Energy and Other Taxes		2,071				1,925
Total Operating Expenses		358,143				218,782
Operating Income		67,686				114,253
Other Income and Expense		5,665				2,203
Interest Charges		(16,745		)		(9,160		)
Income Before Income Taxes		56,606				107,296
Income Taxes		(21,870		)		(39,267		)
Equity in Earnings of Affiliated Companies		3,011				158
Income from Continuing Operations		37,747				68,187
Loss from Discontinued Operations - (Net of tax benefit)		(30		)		(118		)

Net Income	$	37,717	$	68,069
Basic Earnings per Common Share:
Continuing Operations	$	0.47	$	0.96
Discontinued Operations	—		—
Basic Earnings per Common Share	$	0.47	$	0.96
Average Shares of Common Stock Outstanding - Basic	79,519		71,127
Diluted Earnings per Common Share:
Continuing Operations	$	0.47	$	0.95
Discontinued Operations	—		—
Diluted Earnings per Common Share	$	0.47	$	0.95
Average Shares of Common Stock Outstanding - Diluted	79,641		71,416