-----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, CmIfEL6IesviarT0JIBtIKKxFaR9wKpFkE2/A1brqzXKZqjNlveGryx5Lv6P5d1N Vzffaq1J1eBCJLXE3LMw5Q== 0001046861-08-000014.txt : 20080501 0001046861-08-000014.hdr.sgml : 20080501 20080501171859 ACCESSION NUMBER: 0001046861-08-000014 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080501 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080501 DATE AS OF CHANGE: 20080501 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: 08795684 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 e8k050108.htm ENERGY EAST'S 8-K FILED 05-01-2008 Energy East Form 8-K Filed 05/01/08

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 1, 2008
_____________________

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 2008 Financial Results

On May 1, 2008, Energy East Corporation issued a news release concerning its financial results for the quarter ended March 31, 2008.

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 1, 2008.

 

 

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 1, 2008

ENERGY EAST CORPORATION
              (Registrant)


By   /s/Robert D. Kump                                           
           Robert D. Kump
           Senior Vice President
           and Chief Financial Officer

 

 

 

EX-99.1 2 e8k050108e99-1.htm ENERGY EAST'S 8-K EXHIBIT 99-1 FILED 05-01-2008 Energy East Form 8-K Exhibit 99-1 Filed 5/1/08

Exhibit 99-1

ENERGY EAST CORPORATION ANNOUNCES FIRST QUARTER 2008 FINANCIAL RESULTS

 

FOR IMMEDIATE RELEASE

Portland, Maine, May 1, 2008 - Energy East Corporation [NYSE:EAS] today announced its first quarter financial results. Earnings per basic share for the first quarter 2008 were 84 cents compared to 90 cents per share earned in the first quarter 2007.

For the 12 months ended March 31, 2008, earnings per basic share were $1.59 per share compared with $1.77 per share for the 12 months ended March 31, 2007.

Earnings per basic share for the first quarter of 2008 were 6 cents lower than first quarter 2007 earnings of 90 cents per share. The major factors affecting first quarter earnings include:

  • A reduction of 8 cents per share due to lower electric margins, and
  • Higher average common shares outstanding, which reduced earnings per share 5 cents.

Those decreases were partially offset by increases in earnings per share of:

  • 3 cents due to higher gas margins, and
  • 4 cents resulting from a lower estimated annualized effective income tax rate for 2008.

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

In addition, today Energy East filed its Form 10-Q with the Securities and Exchange Commission. The document contains additional details regarding first quarter 2008 financial results and is available on Energy East's website: www.energyeast.com. Shareholders may obtain a free copy of our Form 10-Q by contacting Investor Relations at (207) 688-4386.

About Energy East:
Energy East is a respected super-regional energy services and delivery company serving about 3 million customers throughout upstate New York and New England. By providing outstanding customer service and meeting customers' energy requirements in an environmentally friendly manner, Energy East will continue to be a valuable asset to the communities we serve.

 

 

 

 

 

 

 

Energy East Corporation
Consolidated Statements of Income

 

 

Three Months

Twelve Months

Period Ended March 31,

2008 

2007 

2008 

2007 

(Thousands, except per share amounts)

       

Operating Revenues

       

    Utility

$1,511,663 

$1,564,064 

$4,600,382 

$4,741,554 

    Other

154,987 

149,674 

530,638 

506,295 

      Total Operating Revenues

1,666,650 

1,713,738 

5,131,020 

5,247,849 

Operating Expenses

       

  Electricity purchased and fuel used in generation

       

    Utility

338,894 

385,273 

1,394,622 

1,475,001 

    Other

92,928 

88,853 

367,867 

352,864 

  Natural gas purchased

       

    Utility

546,883 

538,506 

1,124,469 

1,108,717 

    Other

41,344 

42,375 

89,387 

78,073 

  Other operating expenses

190,529 

193,723 

839,802 

803,967 

  Maintenance

40,875 

40,818 

175,674 

206,853 

  Depreciation and amortization

68,502 

68,799 

277,193 

281,963 

  Other taxes

78,174 

75,713 

258,142 

251,682 

      Total Operating Expenses

1,398,129 

1,434,060 

4,527,156 

4,559,120 

Operating Income

268,521 

279,678 

603,864 

688,729 

Other (Income)

(6,889)

(8,955)

(36,818)

(44,681)

Other Deductions

1,006 

3,231 

9,257 

23,792 

Interest Charges, Net

68,736 

68,401 

276,274 

298,505 

Preferred Stock Dividends of Subsidiaries

282 

282 

1,128 

1,129 

Income Before Income Taxes

205,386 

216,719 

354,023 

409,984 

Income Taxes

73,431 

83,425 

104,064 

150,099 

Net Income

$131,955 

$133,294 

$249,959 

$259,885 

Earnings per Share, basic

$.84 

$.90 

$1.59 

$1.77 

Earnings per Share, diluted

$.83 

$.90 

$1.58 

$1.76 

Dividends Declared per Share

$.31 

$.30 

$1.22 

$1.18 

Average Common Shares Outstanding, basic

157,090 

147,517 

157,161 

147,082 

Average Common Shares Outstanding, diluted

158,251 

148,406 

158,233 

147,896 

 

 

 

 

Energy East Corporation
Energy Distribution Statistics

 

Three Months

Twelve Months

Periods Ended March 31,

2008

2007

% change

2008

2007

% change

             

Electricity (thousands of megawatt-hours)

           

   Residential

3,381

3,427

(1)%

12,393 

12,252 

1% 

   Commercial

2,434

2,461

(1)%

10,009 

9,852 

2% 

   Industrial

1,722

1,596

8 %

7,425 

6,963 

7% 

   Other

615

598

3 %

2,317 

2,295 

1% 

     Total retail

8,152

8,082

1 %

32,144 

31,362 

2% 

   Wholesale

1,310

1,935

(32)%

6,617 

8,749 

(24)%

     Total

9,462

10,017

(6)%

38,761 

40,111 

(3)%

Natural Gas (thousands of dekatherms)

           

   Residential

36,332

38,688

(6)%

75,705 

75,489 

-   

   Commercial

11,920

12,416

(4)%

25,190 

25,182 

-   

   Industrial

1,496

1,537

(3)%

3,551 

3,568 

-   

   Other

4,084

4,396

(7)%

13,027 

13,780 

(5)%

   Transportation of customer-owned gas

28,086

26,484

6 %

79,273 

78,193 

1 %

     Total retail

81,918

83,521

(2)%

196,746 

196,212 

-   

   Wholesale

556

351

58 %

1,958 

416 

NM 

      Total

82,474

83,872

(2)%

198,704 

196,628 

1% 

NM = Not meaningful

Energy East Corporation
Weather Statistics

 

Three months ended March 31,

2008

2007

Normal

New York

     

Heating degree days

3,287

3,350

3,411

 (Warmer) than prior year

(2%)

   

 (Warmer) than normal

(4%)

   

New England

     

Heating degree days

3,033

3,176

3,175

 (Warmer) than prior year

(5%)

   

 (Warmer) than normal

(5%)

   

-30-

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