Atmos Energy 2006 Annual Report Download - page 16

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F O R W A R D - L O O K I N G S T A T E M E N T S
The matters discussed or incorporated by
reference in this Summary Annual Report may
contain “forward-looking statements” within
the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements other than
statements of historical fact included in this
report are forward-looking statements made in
good faith by the Company and are intended
to qualify for the safe harbor from liability
established by the Private Securities Litigation
Reform Act of 1995. When used in this report
or any other of the Company’s documents or
oral presentations, the words “anticipate,”
“believe,” “estimate,” “expect,” “forecast,” “goal,”
“intend,” “objective,” “plan,” “projection,”
“seek,” “strategy” or similar words are intended
to identify forward-looking statements. Such
forward-looking statements are subject to risks
and uncertainties that could cause actual
results to differ materially from those discussed
in this report. These risks and uncertainties are
discussed in the Company’s Form 10-K for the
fiscal year ended September 30, 2006. Although
the Company believes these forward-looking
statements to be reasonable, there can be
no assurance that they will approximate actual
experience or that the expectations derived
from them will be realized. Further, the Company
undertakes no obligation to update or revise
any of its forward-looking statements, whether
as a result of new information, future events
or otherwise.
Year Ended September 30
2 0 0 6 2 0 05 2 0 0 4 2 0 0 3 2 0 02
Balance Sheet Data at September 30 (000s)
Capital expenditures $ 425,324 $ 333,183 $ 190,285 $ 159,439 $ 132,252
Net property, plant and equipment 3,629,156 3,374,367 1,722,521 1,624,394 1,380,070
Working capital (1,616) 151,675 283,310 16,248 (139,150)
Total assets 5,719,547 5,653,527 2,912,627 2,625,495 2,059,631
Shareholders’ equity 1,648,098 1,602,422 1,133,459 857,517 573,235
Long-term debt, excluding current maturities 2,180,362 2,183,104 861,311 862,500 668,959
Total capitalization 3,828,460 3,785,526 1,994,770 1,720,017 1,242,194
Income Statement Data
Operating revenues (000s) $ 6,152,363 $ 4,961,873 $ 2,920,037 $ 2,799,916 $ 1,650,964
Gross profit (000s) 1,216,570 1,117,637 562,191 534,976 431,140
Net income (000s) 147,737 135,785 86,227 71,688 59,656
Net income per diluted share 1.82 1.72 1.58 1.54 1.45
Common Stock Data
Shares outstanding (000s)
End of year 81,740 80,539 62,800 51,476 41,676
Weighted average 81,390 79,012 54,416 46,496 41,250
Cash dividends per share $ 1.26 $ 1.24 $ 1.22 $ 1.20 $ 1.18
Shareholders of record 24,690 26,242 27,555 28,510 28,829
Market price – High $ 29.11 $ 29.76 $ 26.86 $ 25.45 $ 24.46
Low $ 25.79 $ 24.85 $ 23.68 $ 20.70 $ 18.37
End of year $ 28.55 $ 28.25 $ 25.19 $ 23.94 $ 21.50
Book value per share at end of year $ 20.16 $ 19.90 $ 18.05 $ 16.66 $ 13.75
Price/Earnings ratio at end of year 15.69 16.42 15.94 15.55 14.83
Market/Book ratio at end of year 1.42 1.42 1.40 1.44 1.56
Annualized dividend yield at end of year 4.4% 4.4% 4.8% 5.0% 5.5%
Customers and Volumes (as metered)
Consolidated utility gas sales volumes (MMcf) 272,033 296,283 173,219 184,512 145,488
Consolidated utility gas transportation
volumes (MMcf) 121,962 114,851 72,814 63,453 63,053
Consolidated utility throughput (MMcf) 393,995 411,134 246,033 247,965 208,541
Consolidated natural gas marketing
throughput (MMcf) 283,962 238,097 222,572 225,961 204,027
Consolidated pipeline transportation
volumes (MMcf) 420,217 383,377 — — —
Meters in service at end of year 3,181,199 3,157,840 1,679,136 1,672,798 1,389,341
Heating degree days* 2,527 2,587 3,271 3,473 3,368
Degree days as a percentage of normal 87% 89% 96% 101% 94%
Utility average cost of gas per Mcf sold $ 10.02 $ 7.41 $ 6.55 $ 5.76 $ 3.87
Utility average transportation fee per Mcf $ .49 $ .49 $ .36 $ .43 $ .41
Statistics
Return on average shareholders’ equity 8.9% 9.0% 9.1% 9.9% 9.9%
Number of employees 4,632 4,543 2,864 2,905 2,338
Net utility plant per meter $ 969 $ 927 $ 994 $ 930 $ 939
Utility operation and maintenance
expense per meter $ 112 $ 110 $ 116 $ 115 $ 101
Meters per employee – utility 723 730 612 594 616
Times interest earned before income taxes 2.55 2.59 3.05 2.75 2.55
*Heating degree days are adjusted for service areas with weather-normalized operations.
C O N S O L I D A T E D F I N A N C I A L A N D S T A T I S T I C A L S U M M A R Y ( 2 0 0 2 - 2 0 0 6 )