Virginia | 000-26591 | 54-1909697 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
519 Kimball Ave., N.E. Roanoke, Virginia | 24016 | |
(Address of principal executive offices) | (Zip Code) |
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 240.425) |
¨ | 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 13c-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
ITEM 2.02. | RESULTS OF OPERATIONS AND FINANCIAL CONDITION. |
ITEM 9.01. | FINANCIAL STATEMENT AND EXHIBITS. |
99.1 | Press Release dated November 23, 2015. |
RGC RESOURCES, INC. | ||||||
Date: November 24, 2015 | By: | /s/ Paul W. Nester | ||||
Paul W. Nester | ||||||
Vice President, Treasurer, Secretary and CFO |
Release Date: | November 23, 2015 | |
Contact: | John S. D'Orazio | |
President and CEO | ||
Telephone: | 540-777-3815 |
Three Months Ended September 30, | Twelve Months Ended September 30, | |||||||||||||||
2015 | 2014 | 2015 | 2014 | |||||||||||||
Revenues | $ | 9,733,404 | $ | 10,280,158 | $ | 68,189,607 | $ | 75,016,134 | ||||||||
Cost of sales | 4,324,712 | 5,028,737 | 37,983,174 | 45,679,045 | ||||||||||||
Gross margin | 5,408,692 | 5,251,421 | 30,206,433 | 29,337,089 | ||||||||||||
Other operating expenses, net | 4,947,380 | 5,017,865 | 20,429,037 | 19,862,108 | ||||||||||||
Interest expense | 371,340 | 450,130 | 1,512,419 | 1,827,001 | ||||||||||||
Income (loss) before income taxes | 89,972 | (216,574 | ) | 8,264,977 | 7,647,980 | |||||||||||
Income tax expense (benefit) | 54,217 | (72,237 | ) | 3,170,562 | 2,939,540 | |||||||||||
Net income (loss) | $ | 35,755 | $ | (144,337 | ) | $ | 5,094,415 | $ | 4,708,440 | |||||||
Net earnings per share of common stock: | ||||||||||||||||
Basic | $ | 0.01 | $ | (0.03 | ) | $ | 1.08 | $ | 1.00 | |||||||
Diluted | $ | 0.01 | $ | (0.03 | ) | $ | 1.08 | $ | 1.00 | |||||||
Cash dividends per common share | $ | 0.1925 | $ | 0.185 | $ | 0.770 | $ | 0.740 | ||||||||
Weighted average number of common shares outstanding: | ||||||||||||||||
Basic | 4,737,307 | 4,719,513 | 4,728,210 | 4,715,478 | ||||||||||||
Diluted | 4,739,745 | 4,719,513 | 4,731,676 | 4,716,282 |
September 30, | ||||||||
Assets | 2015 | 2014 | ||||||
Current assets | $ | 18,443,358 | $ | 21,010,617 | ||||
Total property, plant and equipment, net | 118,629,552 | 108,743,577 | ||||||
Other assets | 11,067,820 | 9,373,447 | ||||||
Total Assets | $ | 148,140,730 | $ | 139,127,641 | ||||
Liabilities and Stockholders’ Equity | ||||||||
Current liabilities | $ | 23,202,984 | $ | 20,352,634 | ||||
Long-term debt, net of unamortized debt issuance costs | 30,316,573 | 30,306,919 | ||||||
Deferred credits and other liabilities | 41,780,182 | 36,447,241 | ||||||
Total Liabilities | 95,299,739 | 87,106,794 | ||||||
Stockholders’ Equity | 52,840,991 | 52,020,847 | ||||||
Total Liabilities and Stockholders’ Equity | $ | 148,140,730 | $ | 139,127,641 |