-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VXUDklBoM7TtkEx7MZd+1pSZLUnI0KddELPxNhZ0XxuIkixR1Wbjl7YxnnMGzCNg qGIoNrZkiLkWcMJ9bzhdJA== 0001046861-05-000007.txt : 20050210 0001046861-05-000007.hdr.sgml : 20050210 20050210163317 ACCESSION NUMBER: 0001046861-05-000007 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050210 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050210 DATE AS OF CHANGE: 20050210 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ENERGY EAST CORP CENTRAL INDEX KEY: 0001046861 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 141798693 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14766 FILM NUMBER: 05593474 BUSINESS ADDRESS: STREET 1: PO BOX 12904 STREET 2: STE 2006A 20TH FL CITY: ALBANY STATE: NY ZIP: 12212-2904 BUSINESS PHONE: 5184343049 MAIL ADDRESS: STREET 1: PO BOX 12904 STREET 2: SUITE 2006A 20TH FLOOR CITY: ALBANY STATE: NY ZIP: 12212-2904 FORMER COMPANY: FORMER CONFORMED NAME: NGE RESOURCES INC DATE OF NAME CHANGE: 19970924 8-K 1 e8k021005.htm ENERGY EAST'S FORM 8-K DATED FEBRUARY 10, 2005 Form 8-K 02/10/2005

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

_____________________

 

FORM 8-K
CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 10, 2005
_____________________

Commission
file number

Exact name of Registrant as specified in its charter,
State of incorporation, Address and Telephone number

IRS Employer
Identification No.

1-14766

Energy East Corporation
(A New York Corporation)
P. O. Box 12904
Albany, New York 12212-2904
(518) 434-3049
www.energyeast.com

14-1798693

 

 

Not Applicable
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[   ]

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[   ]

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[   ]

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[   ]

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 

 

Item 2.02  Results of Operations and Financial Condition and Item 7.01  Regulation FD Disclosure

News Release Concerning Fourth Quarter 2004 Financial Results

On February 10, 2005, Energy East Corporation issued a news release concerning its financial results for the quarter and 12 months ended December 31, 2004.

The news release is attached as Exhibit 99-1 to this document and is being furnished pursuant to Item 2.02, Results of Operations and Financial Condition and Item 7.01, Regulation FD Disclosure, of Form 8-K.

 

Item 9.01  Financial Statements and Exhibits

(c)  Exhibits

99-1

Energy East Corporation's news release dated February 10, 2005.

 

 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 





Date:  February 10, 2005

ENERGY EAST CORPORATION
              (Registrant)


By   /s/Robert D. Kump                                             
           Robert D. Kump
           Vice President, Treasurer
           and Secretary

EX-99.1 2 e8k021005e99-1.htm EXHIBIT 99-1 EARNINGS NEWS RELEASE FEBRUARY 10, 2005 Form 8-K Exhibit 99-1, 2/10/2005

Exhibit 99-1

Energy East Corporation Announces 2004 Financial Results

 

FOR IMMEDIATE RELEASE

Albany, NY, and Portland, ME, February 10, 2005 - Energy East Corporation [NYSE:EAS] today announced the following unaudited financial results.

Earnings per share from continuing operations for the 12 months ended December 31, 2004, were $1.63 while earnings per share for the quarter ended December 31, 2004, were 39 cents per share. Those earnings exclude discontinued operations that reflect the results of two nonutility businesses sold in 2004.

Earnings from continuing operations for the 12 months ended December 31, 2004, were up 20 cents compared to 2003 earnings of $1.43. The increase in earnings was primarily due to the RG&E Electric and Natural Gas Rate Agreements and the sale of the Ginna nuclear plant which increased earnings 16 cents per share, and 10 cents per share from lower financing costs and savings from integration and efficiency initiatives. The improvements in earnings for 2004, as compared to 2003, also reflect a loss on reacquired debt in the fourth quarter of 2003 of 9 cents per share. Those increases were partially offset by lower income from gas operations due, in part, to a 4% drop in retail sales of 7 cents per share, higher stock option expense of 6 cents per share and higher depreciation due to electric plant additions of 3 cents per share.

Earnings of 39 cents per share for the quarter ended December 31, 2004, were 7 cents higher than earnings for the fourth quarter of 2003 of 32 cent per share. Fourth quarter 2004 earnings were favorably affected by the ongoing impacts of the RG&E Electric and Natural Gas Rate Agreements of 3 cents per share, as well as lower financing costs of 2 cents per share. Earnings for 2004, as compared to 2003, also reflect a loss on reacquired debt in the fourth quarter of 2003 of 9 cents per share. Those increases were partially offset by an Earnings Sharing Mechanism at NYSEG, which reduced earnings 6 cents per share and higher stock option expense of 2 cents per share.

Unaudited Consolidated Statements of Income and Energy Delivery Statistics are presented on the following pages. The company expects to issue audited financial statements in conjunction with the filing of its Form 10-K for 2004.

Energy East is a respected super-regional energy services and delivery company that our customers can depend on every day. We are a motivated and skilled team of professionals dedicated to creating shareholder value through our focus on profitable growth, operational excellence and strong customer partnerships. We serve about 3 million customers throughout upstate New York and New England.

Contact:

Scott Martin

 

Manager, Investor Relations

 

(207) 688-4336

 

Energy East Corporation
Consolidated Statements of Income - (Unaudited)

 

 

Three Months

Twelve Months

Periods Ended December 31

2004

2003

2004

2003

(Thousands, except per share amounts)

       

Operating Revenues

       

  Sales and services

$1,268,927 

$1,171,464 

$4,757,026 

$4,514,490 

Operating Expenses

 

 

 

 

  Electricity purchased and fuel used in generation

411,112 

323,087 

1,570,410 

1,338,369 

  Natural gas purchased

318,959 

262,843 

1,030,665 

939,464 

  Other operating expenses

227,281 

209,047 

794,857 

813,133 

  Maintenance

54,162 

74,545 

181,725 

203,042 

  Depreciation and amortization

41,968 

75,432 

292,458 

299,432 

  Other taxes

64,425 

64,996 

252,860 

269,238 

  Restructuring expenses

-    

-    

-    

-    

  Gain on sale of generation assets

-    

-    

(340,739)

-    

  Deferral of asset sale gain

(1,998)

-    

228,785 

-    

      Total Operating Expenses

1,115,909 

1,009,950 

4,011,021 

3,862,678 

Operating Income

153,018 

161,514 

746,005 

651,812 

Other (Income)

(8,955)

(11,565)

(36,249)

(21,852)

Other Deductions

4,598 

28,631 

11,603 

32,712 

Interest Charges, Net

68,403 

72,737 

276,890 

284,790 

Preferred Stock Dividends of Subsidiaries

476 

864 

3,691 

19,009 

Income from Continuing Operations
  Before Income Taxes


88,496 


70,847 


490,070 


337,153 

Income Taxes

31,525 

24,355 

251,845 

128,663 

Income From Continuing Operations

56,971 

46,492 

238,225 

208,490 

Discontinued Operations

       

  Loss from discontinued operations

(1,485)

(1,715)

(7,108)

(12,032)

  Income taxes (benefits)

136 

(8,467)

1,176 

(13,988)

(Loss) Income From Discontinued Operations

(1,621)

6,752 

(8,284)

1,956 

Net Income

$55,350 

$53,244 

$229,941 

$210,446 

Earnings Per Share From Continuing
  Operations, basic


$.39 


$.32 


$1.63 


$1.43 

Earnings Per Share From Continuing
  Operations, diluted


$.39 


$.32 


$1.62 


$1.43 

Earnings (Loss) Per Share From Discontinued
  Operations, basic


$(.01)


$.05 


$(.06)


$.02 

Earnings (Loss) Per Share From Discontinued
  Operations, diluted


$(.01)


$.04 


$(.05)


$.01 

Total Earnings Per Share, basic

$.38 

$.37 

$1.57 

$1.45 

Total Earnings Per Share, diluted

$.38 

$.36 

$1.57 

$1.44 

Dividends Paid Per Share

$.275 

$.25 

$1.055 

$1.00 

Average Common Shares Outstanding, basic

146,597 

145,936 

146,305 

145,535 

Average Common Shares Outstanding, diluted

147,015 

146,150 

146,713 

145,730 

 

 

Energy Delivery Statistics - (Unaudited)

 

Three Months

Twelve Months

Periods Ended December 31

2004

2003

2004

2003

         

Electricity (thousands of megawatt-hours)

       

   Residential

2,961

2,849

11,856

11,676

   Commercial

2,353

2,252

9,480

9,266

   Industrial

1,876

1,849

7,446

7,412

   Other

593

570

2,245

2,239

     Total retail

7,783

7,520

31,027

30,593

   Wholesale

2,143

1,878

7,850

5,734

     Total

9,926

9,398

38,877

36,327

Natural Gas (thousands of dekatherms)

       

   Residential

24,449

24,321

82,572

85,401

   Commercial

7,386

7,652

26,604

25,938

   Industrial

1,222

982

3,959

3,458

   Other

3,252

3,257

11,026

11,301

   Transportation of customer-owned gas

23,025

21,739

84,278

86,647

     Total retail

59,334

57,951

208,439

212,745

   Wholesale

858

729

1,783

5,360

      Total

60,192

58,680

210,222

218,105

 

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