Atmos Energy 1997 Annual Report Download - page 2

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Table of Contents:
Letter to Shareholders . . . . . . . . . .2
Chief Executive Officer Q & A . . .6
Utility Operations . . . . . . . . . . . . .8
Energas Company
Information . . . . . . . . . . . . . . . .10
Greeley Gas Company
Information . . . . . . . . . . . . . . . .12
Trans Louisiana Gas Company
Information . . . . . . . . . . . . . . . .14
United Cities Gas Company
Information . . . . . . . . . . . . . . . .16
Western Kentucky Gas Company
Information . . . . . . . . . . . . . . . .18
Non-Utility Operations . . . . . . . . .20
Shared Services . . . . . . . . . . . . . . .22
Financial Information . . . . . . . . . .23
Board of Directors . . . . . . . . . . . .48
Corporate Information . . . . . . . . .49
YEAR ENDED SEPTEMBER 30,
1997 1996 % Change
____________________________________________________________________________________________________________________________________________________________________________________________________
Operating revenues......................................................................................... 906,835 886,691 2.3%
Gross profit ...................................................................................................... 329,654 324,412 1.6%
Net income ...................................................................................................... 23,838 41,151 -42.1%
Utility operations........................................................................................... 20,463 36,740 -44.3%
Non-utility operations ................................................................................... 3,375 4,411 -23.5%
Assets............................................................................................................... 1,088,311 1,010,610 7.7%
Total capitalization ........................................................................................... 630,241 605,744 4.0%
Total volumes handled (MMcf) ........................................................................ 213,008 222,439 -4.2%
Heating degree days ....................................................................................... 3,909 4,043 -3.3%
Percent of normal ............................................................................................ 98% 101% -3.0%
Meters in service (average) ............................................................................. 984,835 974,767 1.0%
Net income per share...................................................................................... 0.81 1.42 -43.0%
Cash dividends per share ................................................................................ 1.01 0.98 3.1%
Book value per share at end of year............................................................... 11.04 11.27 -2.0%
Return on average common shareholders’ equity.......................................... 7.3% 13.0% -43.8%
Shareholders’ equity as a percentage
of total capitalization at end of year ........................................................... 40.3% 43.9% -8.2%
Shareholders of record .................................................................................... 29,867 36,472 -18.1%
Average shares outstanding............................................................................ 29,409 28,978 1.5%
Financial Highlights