-----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, Nmjx2y6H1kWzE50DkPNItT2ysGQToQqyGAALfKPGE54I2UhnPMd5Q9B7JnsO/Jbq HFR3A6rGuRiVWFwiJF8k1g== 0001046861-06-000013.txt : 20060505 0001046861-06-000013.hdr.sgml : 20060505 20060504180547 ACCESSION NUMBER: 0001046861-06-000013 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060504 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060505 DATE AS OF CHANGE: 20060504 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: 06809765 BUSINESS ADDRESS: STREET 1: 52 FARM VIEW DRIVE CITY: NEW GLOUCESTER STATE: ME ZIP: 04260 BUSINESS PHONE: 2076886300 MAIL ADDRESS: STREET 1: 52 FARM VIEW DRIVE CITY: NEW GLOUCESTER STATE: ME ZIP: 04260 FORMER COMPANY: FORMER CONFORMED NAME: NGE RESOURCES INC DATE OF NAME CHANGE: 19970924 8-K 1 e8k050406.htm ENERGY EAST'S FORM 8-K FILED 05/04/06 Energy East Corporation Form 8-K Filed 05/04/2006

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) May 4, 2006
_____________________

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
(Incorporated in New York)
52 Farm View Drive
New Gloucester, Maine 04260-5116
(207) 688-6300
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 First Quarter 2006 Financial Results

On May 4, 2006, Energy East Corporation issued a news release concerning its financial results for the quarter and 12 months ended March 31, 2006.

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

(d) Exhibits

99-1 Energy East Corporation's news release dated May 4, 2006.

 

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 hereunto duly authorized.





Date:  May 4, 2006

ENERGY EAST CORPORATION
              (Registrant)


By   /s/Robert D. Kump                                             
           Robert D. Kump
           Vice President, Controller &
           Chief Accounting Officer

 

 

EX-99.1 2 e8k050406e99-1.htm EXHIBIT 99.1 PRESS RELEASE FOR ENERGY EAST CORPORATION Energy East Form 8-K Exhibit 99-1 Filed 05/04/2006

Exhibit 99-1

Energy East Corporation Announces First Quarter 2006 Financial Results

 

FOR IMMEDIATE RELEASE

Albany, NY, and Portland, ME, May 4, 2006, Energy East Corporation [NYSE:EAS] today announced the following financial results.

Earnings per share from continuing operations, basic for the quarter ended March 31, 2006, were 91 cents and for the 12 months ended March 31, 2006, were $1.60.

Earnings from continuing operations, basic for the quarter ended March 31, 2006, decreased 14 cents per share compared to $1.05 per share for the quarter ended March 31, 2005. First quarter earnings decreased due to higher operating and maintenance costs, caused largely by storm restoration costs, higher interest costs due in part to higher carrying costs on regulatory liabilities and lower electricity sales due to mild winter weather. Natural gas margins were essentially unchanged from 2005 as the effect of lower delivery volumes was largely offset by weather normalization accruals.

Earnings per share from continuing operations, basic for the 12 months ended March 31, 2006, decreased 25 cents per share compared to $1.85 for the 12 months ended March 31, 2005. The decrease in earnings per share was primarily due to higher operating and maintenance costs including storm-related repairs and maintenance, increases in bad debt expense and increases in transmission costs. In addition, the reduction also reflects the writedown of our South Glens Falls generating facility in the fourth quarter of 2005 and earnings in 2004 from the one-time effects of the sale of the Ginna nuclear power plant and the approval of Rochester Gas and Electric Company's Electric and Natural Gas Rate Agreements. Those decreases were partially offset by higher electric retail deliveries.

Unaudited Consolidated Statements of Income and Energy Delivery Statistics are presented on the following pages.

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 March 31,

2006   

2005   

2006   

2005   

(Thousands, except per share amounts)

       

Operating Revenues

$1,696,554 

$1,637,278 

$5,357,819 

$4,842,614 

  Sales and services

       

Operating Expenses

       

  Electricity purchased and fuel used in generation

466,731 

437,191 

1,847,907 

1,610,948 

  Natural gas purchased

553,543 

519,130 

1,303,227 

1,065,928 

  Other operating expenses

186,106 

181,673 

801,448 

770,318 

  Maintenance

52,464 

42,515 

207,653 

175,181 

  Depreciation and amortization

69,404 

67,921 

278,700 

281,866 

  Other taxes

73,865 

68,031 

252,105 

247,248 

  Gain on sale of generation assets

-      

-      

-      

(340,739)

  Deferral of asset sale gain

-      

-      

-      

228,785 

      Total Operating Expenses

1,402,113 

1,316,461 

4,691,040 

4,039,535 

Operating Income

294,441 

320,817 

666,779 

803,079 

Other (Income)

(10,400)

(7,824)

(37,849)

(34,112)

Other Deductions

4,017 

1,975 

13,268 

11,031 

Interest Charges, Net

78,720 

69,736 

297,880 

276,637 

Preferred Stock Dividends of Subsidiaries

282 

476 

1,281 

3,179 

Income from Continuing Operations
  Before Income Taxes


221,822 


256,454 


392,199 


546,344 

Income Taxes

88,581 

102,088 

156,491 

275,287 

Income from Continuing Operations

133,241 

154,366 

235,708 

271,057 

Discontinued Operations

       

  Loss from businesses sold

-      

-      

-      

(6,473)

  Income taxes

-      

-      

-      

1,433 

Loss from Discontinued Operations

-      

-      

-      

(7,906)

Net Income

$133,241 

$154,366 

$235,708 

$263,151 

Earnings per Share from Continuing
  Operations, basic

$0.91 


$1.05 

$1.60 


$1.85 

Earnings per Share from Continuing
  Operations, diluted

$0.90 


$1.05 

$1.60 


$1.84 

Total Earnings per Share, basic

$0.91 

$1.05 

$1.60 

$1.80 

Total Earnings per Share, diluted

$0.90 

$1.05 

$1.60 

$1.79 

Dividends Paid per Share

$0.29 

$.275 

$1.13 

$1.07 

Average Common Shares Outstanding, basic

147,034 

146,875 

147,004 

146,500 

Average Common Shares Outstanding, diluted

147,679 

147,196 

147,594 

146,903 

 

 

Energy Delivery Statistics - (Unaudited)

 

Three Months

Twelve Months

Periods Ended March 31

2006  

2005  

2006  

2005  

         

Electricity (thousands of megawatt-hours)

       

   Residential

3,300

3,402

12,499

11,892

   Commercial

2,239

2,379

9,665

9,524

   Industrial

1,729

1,699

7,364

7,384

   Other

496

596

2,179

2,244

     Total retail

7,764

8,076

31,707

31,044

   Wholesale

2,503

1,984

9,985

7,741

     Total

10,267

10,060

41,692

38,785

Natural Gas (thousands of dekatherms)

       

   Residential

33,834

39,789

74,095

81,009

   Commercial

11,137

13,095

24,775

26,622

   Industrial

1,497

1,700

3,747

4,145

   Other

3,509

3,512

11,017

11,612

   Transportation of customer-owned gas

25,668

28,161

80,430

83,716

     Total retail

75,645

86,257

194,064

207,104

   Wholesale

47

350

580

1,681

      Total

75,692

86,607

194,644

208,785

 

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