Atmos Energy 1997 Annual Report Download - page 51

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46 ATMOS ENERGY CORPORATION
Quarterly Financial Data (Unaudited)
Summarized unaudited quarterly financial data are presented below. The sum of net income per share by quarter may not equal the net income per share for the year due to variations
in the weighted average shares outstanding used in computing such amounts. The Company’s natural gas and propane distribution businesses are seasonal due to weather conditions in
the Company’s service areas. For further information on its effects on quarterly results, please see the “Seasonality” discussion included in the “Management’s Discussion and Analysis
of Financial Condition and Results of Operations” section herein.
QUARTER ENDED
DECEMBER 31, MARCH 31, JUNE 30, SEPTEMBER 30,
___________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ ___________________________________________________________________________________________________
(In thousands, except per share data) 1996 1995 1997 1996 1997 1996 1997 1996
______________________________________________ ______________________________________________ ______________________________________________ _____________________________________________ ______________________________________________ ______________________________________________ _____________________________________________ _______________________________________________
Operating revenues .................................................................................................... $280,624 $253,439 $362,636 $341,867 $143,714 $175,240 $119,861 $116,145
Gross profit ................................................................................................................. 97,269 89,707 124,249 120,231 59,546 68,220 48,590 46,254
Operating income (loss).............................................................................................. 25,968 24,365 37,075 41,216 4,599 6,853 (15,331) (3,173)
Net income (loss)......................................................................................................... 18,155 18,496 30,625 35,906 (3,018) (2,795) (21,924) (10,456)
Net income (loss) per share ........................................................................................ .62 .64 1.04 1.26 (.10) (.10) (.74) (.36)
Market Information
The Company’s stock trades on the New York Stock Exchange under the trading symbol “ATO.” The high and low sale prices and dividends paid per share of the Company’s common
stock for fiscal 1997 and 1996 are listed below. Dividends paid for 1997 and 1996 have been restated to reflect the merger of Atmos and UCGC accounted for as a pooling of interests.
Atmos’ actual dividends paid in fiscal 1997 were $.25 for each of the first three quarters and $.255 for the fourth quarter, and $.24 per quarter for each quarter of fiscal 1996. The high
and low prices listed are the actual closing NYSE quotes for Atmos shares.
1997 1996
______________________________________________________________________________________________________________________________________________________________________________________ ________________________________________________________________________________________________________________________________________________________________________________________
Dividends Dividends
High Low paid High Low paid
_______________________________________________________ _______________________________________________________ ________________________________________________________ ________________________________________________________ _________________________________________________________ __________________________________________________________
Quarter ended
December 31............................................................................................................................... $24 3⁄4$22 5⁄8$ .251 $ 23 $ 18 $.245
March 31...................................................................................................................................... 26 1⁄422 1⁄8.252 23 21 .245
June 30........................................................................................................................................ 25 1⁄222 1⁄2.252 31 22 3⁄4.245
September 30.............................................................................................................................. 27 7⁄824 1⁄2.255 30 5⁄820 7⁄8.245
________________________________________________________ __________________________________________________________
$1.01 $ .98
________________________________________________________ __________________________________________________________
________________________________________________________ __________________________________________________________
See Note 7 of notes to consolidated financial statements for restriction on payment of dividends. The number of record holders of the Company’s common stock on September 30, 1997
was 29,867.
Selected Financial Data
The following table sets forth selected financial data of the Company and should be read in conjunction with the consolidated financial statements included herein. Amounts for 1997
reflect the pooled operations of Atmos and the United Cities Division. Prior year amounts have been restated for the pooling.
(In thousands, except per share data) YEAR ENDED SEPTEMBER 30,
1997 1996 1995 1994 1993
__________________________________________________________ _________________________________________________________ __________________________________________________________ __________________________________________________________ ____________________________________________________________
Operating revenues .................................................................................................................................................. $ 906,835 $ 886,691 $749,555 $ 826,302 $794,893
__________________________________________________________ _________________________________________________________ __________________________________________________________ __________________________________________________________ ____________________________________________________________
__________________________________________________________ _________________________________________________________ __________________________________________________________ __________________________________________________________ ____________________________________________________________
Net income................................................................................................................................................................ $ 23,838 $ 41,151 $ 28,808 $ 26,772 $ 29,694
__________________________________________________________ _________________________________________________________ __________________________________________________________ __________________________________________________________ ____________________________________________________________
__________________________________________________________ _________________________________________________________ __________________________________________________________ __________________________________________________________ ____________________________________________________________
Net income per share ............................................................................................................................................... $ .81 $ 1.42 $ 1.06 $ 1.05 $ 1.21
__________________________________________________________ _________________________________________________________ __________________________________________________________ __________________________________________________________ ____________________________________________________________
__________________________________________________________ _________________________________________________________ __________________________________________________________ __________________________________________________________ ____________________________________________________________
Cash dividends per share ......................................................................................................................................... $ 1.01 $ .98 $ .96 $ .91 $ .82
__________________________________________________________ _________________________________________________________ __________________________________________________________ __________________________________________________________ ____________________________________________________________
__________________________________________________________ _________________________________________________________ __________________________________________________________ __________________________________________________________ ____________________________________________________________
Total assets at end of year........................................................................................................................................ $1,088,311 $1,010,610 $900,948 $ 829,385 $786,739
__________________________________________________________ _________________________________________________________ __________________________________________________________ __________________________________________________________ ____________________________________________________________
__________________________________________________________ _________________________________________________________ __________________________________________________________ __________________________________________________________ ____________________________________________________________
Long-term debt at end of year................................................................................................................................. $ 302,981 $ 276,162 $294,463 $ 282,647 $257,696
__________________________________________________________ _________________________________________________________ __________________________________________________________ __________________________________________________________ ____________________________________________________________
__________________________________________________________ _________________________________________________________ __________________________________________________________ __________________________________________________________ ____________________________________________________________