SOURCE: STEPHEN H. CLARK
MARISSA TRAVALINE
COMPANY NAME: SOUTH JERSEY INDUSTRIES, INC.
MARKET: N
STOCK SYMBOL: SJI
SOUTH JERSEY INDUSTRIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(In Thousands Except for Per Share Data)
|
| | | | | | | | | | | |
| | Three Months Ended December 31, |
| | 2017 | | 2016 |
| Operating Revenues: | | | |
| Utility | $ | 169,302 | | | $ | 140,894 | |
| Nonutility | 176,436 | | | 189,087 | |
| Total Operating Revenues | 345,738 | | | 329,981 | |
| Operating Expenses: | | | |
| Cost of Sales - (Excluding depreciation) | | | |
| - Utility | 67,733 | | | 57,087 | |
| - Nonutility | 142,852 | | | 129,597 | |
| Operations (including Impairment Charges) | 104,223 | | | 42,114 | |
| Maintenance | 5,459 | | | 4,756 | |
| Depreciation | 26,925 | | | 24,283 | |
| Energy and Other Taxes | 1,348 | | | 1,725 | |
| Total Operating Expenses | 348,540 | | | 259,562 | |
| Operating (Loss) Income | (2,802 | ) | | 70,419 | |
| | | | |
| Other Income and Expense | 4,584 | | | 1,202 | |
| Interest Charges | (15,728 | ) | | (6,705 | ) |
| (Loss) Income Before Income Taxes | (13,946 | ) | | 64,916 | |
| Income Taxes | 16,498 | | | (19,266 | ) |
| Equity in Earnings of Affiliated Companies | 1,457 | | | 358 | |
| Income from Continuing Operations | 4,009 | | | 46,008 | |
| Gain (Loss) from Discontinued Operations - (Net of tax benefit) | 36 | | | (75 | ) |
| Net Income | $ | 4,045 | | | $ | 45,933 | |
| | | | |
| Basic Earnings Per Common Share: | | | |
| Continuing Operations | $ | 0.05 | | | $ | 0.58 | |
| Discontinued Operations | — | | | — | |
| Basic Earnings Per Common Share | $ | 0.05 | | | $ | 0.58 | |
| | | | |
| Average Shares of Common Stock Outstanding - Basic | 79,549 | | | 79,478 | |
| | | | |
| Diluted Earnings Per Common Share: | | | |
| Continuing Operations | $ | 0.05 | | | $ | 0.58 | |
| Discontinued Operations | — | | | — | |
| Diluted Earnings Per Common Share | $ | 0.05 | | | $ | 0.58 | |
| | | | |
| Average Shares of Common Stock Outstanding - Diluted | 79,705 | | | 79,643 | |
|
| | | | | | | | | | | |
| | | | |
| | Twelve Months Ended December 31, |
| | 2017 | | 2016 |
| Operating Revenues: | | | |
| Utility | $ | 512,482 | | | $ | 453,819 | |
| Nonutility | 730,586 | | | 582,681 | |
| Total Operating Revenues | 1,243,068 | | | 1,036,500 | |
| Operating Expenses: | | | |
| Cost of Sales - (Excluding depreciation) | | | |
| - Utility | 199,660 | | | 167,154 | |
| - Nonutility | 646,567 | | | 413,833 | |
| Operations (including Impairment Charges) | 264,844 | | | 151,957 | |
| Maintenance | 19,727 | | | 17,549 | |
| Depreciation | 100,718 | | | 90,389 | |
| Energy and Other Taxes | 6,487 | | | 6,342 | |
| Total Operating Expenses | 1,238,003 | | | 847,224 | |
| Operating Income | 5,065 | | | 189,276 | |
| | | | |
| Other Income and Expense | 14,819 | | | 9,989 | |
| Interest Charges | (54,019 | ) | | (31,449 | ) |
| (Loss) Income Before Income Taxes | (34,135 | ) | | 167,816 | |
| Income Taxes | 24,937 | | | (54,151 | ) |
| Equity in Earnings of Affiliated Companies | 5,794 | | | 5,396 | |
| (Loss) Income from Continuing Operations | (3,404 | ) | | 119,061 | |
| Loss from Discontinued Operations - (Net of tax benefit) | (86 | ) | | (251 | ) |
| Net (Loss) Income | $ | (3,490 | ) | | $ | 118,810 | |
| | | | |
| Basic (Loss) Earnings per Common Share: | | | |
| Continuing Operations | $ | (0.04 | ) | | $ | 1.56 | |
| Discontinued Operations | — | | | — | |
| Basic (Loss) Earnings per Common Share | $ | (0.04 | ) | | $ | 1.56 | |
| | | | |
| Average Shares of Common Stock Outstanding - Basic | 79,541 | | | 76,362 | |
| | | | |
| Diluted (Loss) Earnings per Common Share: | | | |
| Continuing Operations | $ | (0.04 | ) | | $ | 1.56 | |
| Discontinued Operations | — | | | — | |
| Diluted (Loss) Earnings per Common Share | $ | (0.04 | ) | | $ | 1.56 | |
| | | | |
| Average Shares of Common Stock Outstanding - Diluted | 79,541 | | | 76,475 | |
