Exhibit 99
Form 10-Q
June 30, 1999
NATIONAL FUEL GAS
CONSOLIDATED STATEMENT OF INCOME
(UNAUDITED)
Twelve Months Ended
June 30,
--------------------
1999 1998
(Thousands of Dollars, Except Per
Common Share Amounts)
INCOME
Operating Revenues $1,249,892 $1,228,156
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Operating Expenses
Purchased Gas 400,790 448,221
Fuel Used in Heat and Electric Generation 54,988 30,160
Operation 308,108 277,817
Maintenance 23,846 26,744
Property, Franchise and Other Taxes 90,715 92,729
Depreciation, Depletion and Amortization 126,398 115,615
Impairment of Oil & Gas Producing Properties - 128,996
Income Taxes - Net 59,266 24,040
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1,064,111 1,144,322
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Operation Income 185,781 83,834
Other Income 11,358 33,012
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Income Before Interest Charges and
Minority Interest in Foreign Subsidiary 197,139 116,846
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Interest Charges
Interest on Long-Term Debt 65,267 48,980
Other Interest 22,626 29,367
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87,893 78,347
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Minority Interest in Foreign Subsidiary (1,717) (3,036)
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Income Before Cumulative Effect 107,529 35,463
Cumulative Effect of Change in Accounting for
Depletion - (9,116)
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Net Income Available for Common Stock $ 107,529 $ 26,347
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Basic Earnings (Loss) Per Common Share
Income Before Cumulative Effect $ 2.79 $ 0.93
Cumulative Effect fo Change in Accounting
for Depletion - (0.24)
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Net Income Available for Common Stock $ 2.79 $ 0.69
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Diluted Earnings (Loss) Per Common Share
Income Before Cumulative Effect $ 2.76 $ 0.92
Cumulative Effect of Change in Accounting
for Depletion - (0.24)
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Net Income Available for Common Stock $ 2.76 $ 0.68
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Weighted Average Common Shares Outstanding
Used in Basic Calculation 38,574,864 38,242,231
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Used in Diluted Calculation 38,917,221 38,649,662
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