Exhibit 99
[DQE Logo] Information
Box 68 for the
Pittsburgh, PA 15230-0068 Financial Community
Financial Data
Second Quarter & Twelve Months Ended June 30,
(All figures in thousands except per share amounts)
(Unaudited)
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Three Months Ended Twelve Months Ended
June 30 June 30
1999 1998 1999 1998
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Total operating revenues $326,829 $303,510 $1,320,197 $1,239,375
Net income $41,606 $40,204 (a) $201,425 $186,306 (a,b)
Average number of common
shares outstanding (c) 75,776 77,720 77,083 77,671
Basic earnings per share
of common stock $0.55 $0.52 (a) $2.59 $2.40 (a,b)
Dividend declared per share
of common stock $0.38 $0.36 $1.50 $1.42
(a) Excluding the extraordinary Pennsylvania restructuring charge in June 1998
of $82,548 or $1.06 per share.
(b) Excluding non-recurring gain associated with sale of Exide Electronics'
stock of $6,254 or $.08 per share.
(c) Actual shares outstanding were 75,682,696 at June 30, 1999 and 77,373,428
at year-end 1998.
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Duquesne Light Company, an electric utility, is the largest of the DQE
subsidiaries, and had the following sales in millions of kilowatt-hours for the
periods indicated.
Direct Sales:
Residential 752 731 3,451 3,278
Commercial 1,440 1,417 5,909 5,744
Industrial 873 854 3,381 3,526
Other 17 17 71 76
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Total sales to customers 3,082 3,019 12,812 12,624
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If you have any questions or comments regarding this information, please call:
Gary L. Schwass James D. Mitchell M. Beth Straka Quynh T. McGuire
Executive Vice President Vice President, Asst. VP, Investor Relations Director,
and CFO Finance and Marketing Communications Investor Relations
(412) 393-6200 (412) 320-4410 (412) 393-6265 (412) 393-6741
July 23, 1999
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DQE is an innovative, dynamic, multi-utility delivery and services company with
active business ventures and partnerships throughout the United States and
Canada. We are positioned to meet the expanding needs of the marketplace by
"delivering" creative solutions to our customers and value to our shareholders.