Peak sales periods for TEP and UNS Electric generally occur during the summer while UNS Gas’ sales generally peak during the winter. Accordingly, comparisons among quarters of a year may not represent overall trends and changes in operations.


	UNS Energy
	First		Second		Third		Fourth
	-Thousands of Dollars- (Except Per Share Amounts)
2012
Operating Revenue	$	315,387	$	363,997	$	434,108	$	348,274
Operating Income		34,403		68,065		106,409		42,918
Net Income		6,476		26,273		50,664		7,506
Basic EPS		0.17		0.65		1.22		0.18
Diluted EPS		0.17		0.64		1.21		0.18

2011
Operating Revenue	$	338,177	$	365,141	$	441,557	$	333,827
Operating Income		44,820		71,290		123,760		41,837
Net Income		13,472		28,604		59,712		8,187
Basic EPS		0.37		0.77		1.61		0.22
Diluted EPS		0.35		0.71		1.46		0.22

EPS is computed independently for each of the quarters presented. Therefore, the sum of the quarterly EPS amounts may not equal the total for the year.


	TEP
	First			Second		Third		Fourth
	-Thousands of Dollars-
2012
Operating Revenue	$	223,978		$	299,419	$	366,910	$	271,353
Operating Income		17,892			58,211		94,079		30,305
Net Income (Loss)		(1,461	)		21,910		44,569		452

2011
Operating Revenue	$	239,588		$	295,233	$	369,845	$	251,720
Operating Income		27,792			62,497		111,479		27,640
Net Income		4,704			25,158		53,912		1,560

The following tables reflect the quarterly impact of revisions on UNS Energy’s statements of income recorded in the fourth quarter of 2012 (See Note 1):


	UNS Energy
	2012 Three Months Ended
	March 31,				June 30,				September 30,
	As Reported		As Revised		As Reported		As Revised		As Reported		As Revised
	-Thousands of Dollars-
Income Statement
Operating Revenue	$	318,874	$	315,387	$	367,171	$	363,997	$	437,261	$	434,108
Operating Income ⁽¹⁾		34,395		34,403		68,059		68,065		106,409		106,409
	2011 Three Months Ended
	March 31,				June 30,				September 30,				December 31,
	As Reported		As Revised		As Reported		As Revised		As Reported		As Revised		As Reported		As Revised
	-Thousands of Dollars-
Income Statement
Operating Revenue	$	344,766	$	338,177	$	369,673	$	365,141	$	450,947	$	441,557	$	344,129	$	333,827
Operating Income ⁽¹⁾		44,820		44,820		71,290		71,290		123,760		123,760		41,802		41,837

⁽¹⁾	Includes immaterial reclassifications from Operating Expense to Other Expense to conform with current year presentation.