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..................................................................................................................
ATMOS ENERGY CORPORATION
FINANCIAL HIGHLIGHTS
Year Ended September 30,
2000 1999 % Change
(Dollars in thousands, except share data)
Operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 850,152 $ 690,196 23.2%
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 325,706 $ 299,794 8.6%
Utility net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 22,459 $ 10,800 108.0%
Non-utility net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,459 6,944 93.8%
Total
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 35,918 $ 17,744 102.4%
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,348,758 $ 1,230,537 9.6%
Total capitalization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 755,664 $ 755,146 0.1%
Net income per share – diluted . . . . . . . . . . . . . . . . . . . . . $ 1.14 $ .58 96.6%
Cash dividends per share . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1.14 $ 1.10 3.6%
Book value per share at end of year . . . . . . . . . . . . . . . . . $ 12.28 $ 12.09 1.6%
Total throughput (MMcf) . . . . . . . . . . . . . . . . . . . . . . . . . . . 197,564 195,587 1.0%
Heating degree days . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,302 3,374 -2.1%
Degree days as a % of normal . . . . . . . . . . . . . . . . . . . . . 82% 85% -3.5%
Meters in service at end of year . . . . . . . . . . . . . . . . . . . . 1,096,599 1,037,995 5.6%
Return on average shareholders’ equity . . . . . . . . . . . . . . 9.3% 4.7% 97.9%
Shareholders’ equity as a % of total capitalization
(including short-term debt) at end of year . . . . . . . . . . 38.4% 40.1% -4.2%
Shareholders of record . . . . . . . . . . . . . . . . . . . . . . . . . . . 32,394 35,179 -7.9%
Average shares outstanding – diluted (000’s) . . . . . . . . . . 31,594 30,819 2.5%
TABLE OF CONTENTS
Letter to Shareholders 2
Running Our Utilities Exceptionally Well 8
Expanding Our Non-Utility Operations 12
Growing Through Acquisitions 16
Financial Review 22
Atmos Officers 31
Board of Directors 32
Corporate Information 33