Atmos Energy 1998 Annual Report Download - page 2

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Letter to Shareholders 2
Chief Executive Q&A 5
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 56
Corporate Information 57
Year ended September 30,
1998 1997 % change
(Dollars in thousands, except per share amounts)
Operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 848,208 $ 906,835 -6.5%
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 331,836 $ 329,654 0.7%
Utility net income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 42,147 $ 16,991 148.1%
Non-utility net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 13,118 $ 6,847 91.6%
Total net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 55,265 $ 23,838 131.8%
Total assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,141,390 $1,088,311 4.9%
Total capitalization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 769,706 $ 630,241 22.1%
Net income per share – diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1.84 $ .81 127.2%
Cash dividends per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1.06 $ 1.01 5.0%
Book value per share at end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 12.21 $ 11.04 10.6%
Total throughput (MMcf). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 215,597 213,008 1.2%
Heating degree days. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,799 3,909 -2.8%
Degree days as a % of normal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 95% 98% -3.1%
Meters in service at end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,004,532 985,448 1.9%
Return on average shareholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.8% 7.3% 116.4%
Shareholders’ equity as a % of total
capitalization at end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41.5% 40.3% 3.0%
Shareholders of record . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36,949 29,867 23.7%
Average shares outstanding – diluted (000’s) . . . . . . . . . . . . . . . . . . . . . . . . 30,031 29,422 2.1%
FINANCIAL HIGHLIGHTS
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