Exhibit 99.06
Southern Company
Financial Overview
(In Millions of Dollars)
3 Months Ended September 9 Months Ended September
----------------------------------- ---------------------------------------
2003 2002 % Change 2003 2002 % Change
---- ---- -------- ---- ---- --------
Consolidated -
Operating Revenues $3,337 $3,248 2.7% $8,749 $8,092 8.1%
Earnings Before Income Taxes 898 867 3.5% 1,935 1,689 14.5%
Net Income As Reported 619 595 3.9% 1,349 1,151 17.2%
Net Income Excluding Dynegy (Note) 618 595 3.9% 1,265 1,151 9.9%
Alabama Power -
Operating Revenues $1,234 $1,119 10.2% $3,093 $2,846 8.7%
Earnings Before Income Taxes 357 330 8.0% 679 647 4.8%
Net Income Available to Common 217 201 7.9% 415 389 6.7%
Georgia Power -
Operating Revenues $1,486 $1,517 -2.0% $3,803 $3,728 2.0%
Earnings Before Income Taxes 412 430 -4.2% 876 904 -3.1%
Net Income Available to Common 265 271 -2.4% 557 569 -2.2%
Gulf Power -
Operating Revenues $253 $246 3.0% $666 $617 8.0%
Earnings Before Income Taxes 53 55 -3.4% 106 93 13.3%
Net Income Available to Common 33 34 -3.5% 66 59 10.8%
Mississippi Power -
Operating Revenues $228 $244 -6.3% $686 $632 8.6%
Earnings Before Income Taxes 57 54 3.1% 179 112 59.0%
Net Income Available to Common 35 33 3.0% 109 68 59.7%
Savannah Electric -
Operating Revenues $100 $97 3.4% $248 $233 6.6%
Earnings Before Income Taxes 23 21 13.1% 39 35 11.9%
Net Income Available to Common 14 13 9.4% 24 22 10.0%
Southern Power -
Operating Revenues $208 $136 - $554 $213 -
Earnings Before Income Taxes 53 38 - 220 60 -
Net Income Available to Common 41 28 - 143 41 -
Note: Excludes a one-time gain of $88 million in May 2003 from the previously announced termination of all
long-term wholesale power contracts between Southern Company and Dynegy, Inc. After adjusting for
revenues that otherwise would have been recognized for the remainder of the year, the adjusted gain for
2003 is $83 million.