-----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, POaqFj5P0ih5Mait4esVsefHliVTjRMeUyaaH0WgfZTra30buB6crzjMycenhTsZ jCipwmx9VRcxcHRrRKqi2A== 0001108426-08-000128.txt : 20080819 0001108426-08-000128.hdr.sgml : 20080819 20080819173012 ACCESSION NUMBER: 0001108426-08-000128 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080819 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20080819 DATE AS OF CHANGE: 20080819 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PNM RESOURCES INC CENTRAL INDEX KEY: 0001108426 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 850019030 STATE OF INCORPORATION: NM FISCAL YEAR END: 0627 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32462 FILM NUMBER: 081028562 BUSINESS ADDRESS: STREET 1: ALVARADO SQUARE STREET 2: NEW MEXICO CITY: ALBUQUERQUE STATE: NM ZIP: 87158 BUSINESS PHONE: 5052412700 MAIL ADDRESS: STREET 1: ALVARADO SQUARE CITY: ALBUQUERQUE STATE: NM ZIP: 87158 FORMER COMPANY: FORMER CONFORMED NAME: MANZANO CORP DATE OF NAME CHANGE: 20000303 8-K 1 f8k_081908pnmr.htm FORM 8-K f8k_081908pnmr.htm

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)
  August 19, 2008
  
 
 (August 13, 2008)
  

 
Commission
  
Name of Registrant, State of Incorporation,
  
I.R.S. Employer
File Number
  
Address and Telephone Number
  
Identification No.
         
001-32462
  
PNM Resources, Inc.
  
85-0468296
   
(A New Mexico Corporation)
    
   
Alvarado Square
    
   
Albuquerque, New Mexico  87158
    
   
(505) 241-2700
    
         
         
         
         
         
         
         
         
         
         
         
         
         
______________________________
 
(Former name, former address and former fiscal year, 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 7.01  Regulation FD Disclosure.
 
On August 11, 2008, PNM Resources, Inc. (the “Company”) issued a press release announcing its unaudited results of operations for the three and six months ended June 30, 2008.  The Company filed a Current Report on Form 8-K, under Item 2.02, dated August 11, 2008 and that press release was furnished as Exhibit 99.1 to the Form 8-K.  In accordance with general instruction B.2 of Form 8-K, the information in that report, including exhibits, was furnished pursuant to Item 2.02 and not to be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section and not deemed incorporated by reference in any filing under the Securities Act of 1933.

The Company has determined that certain information for the three and six months ended June 30, 2007 and presented on Schedules 3, 4, 7, and 8 that should have been presented on four separate lines was inappropriately combined on one line.  The corrected schedules are being filed with this Current Report on Form 8-K.

In accordance with general instruction B.2 of Form 8-K, the information in this report, including exhibits, is furnished pursuant to Item 7.01 and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section and not deemed incorporated by reference in any filing under the Securities Act of 1933.

Item 9.01                   Financial Statements and Exhibits.

(d) Exhibits:

Exhibit Number      Description

99.1           Corrected Schedules 3, 4, 7, and 8 to the PNM Resources, Inc. Press Release dated August 11, 2008.

 
2
 

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.

   
 
PNM RESOURCES, INC.
   
 
(Registrant)
   
   
Date:  August 19, 2008
/s/ Thomas G. Sategna
 
Thomas G. Sategna
 
Vice President and Corporate Controller
 
(Officer duly authorized to sign this report)



 
3
 

EX-99.1 2 exh99-1_081908.htm EXHIBIT 99.1 exh99-1_081908.htm

Exhibit 99.1

 

 

PNM Resources
Schedule 3
2007 Reconciliation of Ongoing to GAAP Earnings
               (Unaudited)


 
   
Quarter Ended June 30, 2007
    
   
(in thousands)
    
   
 
Utilities
 
Altura
 
FCP
EnergyCo
(50%)
Corp/
Other
  
 
PNMR
   
PNM
Electric
TNMP Electric
PNM Gas
            
Ongoing Earnings (Loss)
  
 $   6,941
 $  4,234
$  (2,034)
$  4,542
$    5,284
 $   1,373
$  (5,253) 
 
$  15,087
                     
Non-Recurring Items
                    
JV formation costs
  
                    -
                -
               -
               -
               -
                    -
        (1,878)
  
       (1,878)
Favorable IRS decision
              
       16,038
  
      16,038
Twin Oaks III Impairment
              
       (2,042)
  
      (2,042)
Loss on contribution of Altura (Twin Oaks)
              
        (2,197)
  
       (2,197)
Speculative trading
  
                    -
                -
               -
               -
         1,082
                    -
                -
  
         1,082
Unrealized impairments of NDT securities
  
                 (62)
                -
               -
               -
               -
                    -
                -
  
            (62)
Economic mark-to-market hedges
  
           (6,234)
                -
           446
               -
               -
                    -
                -
  
      (5,788)
Total Non-Recurring Items
  
    (6,296)
         -
     446
        -
   1,082
           -
    9,921
  
   5,153
                     
                     
GAAP Earnings (Loss) from Continuing Operations
  
         645
   4,234
  
  4,542
   6,366
      1,373
   4,668
  
 21,828
GAAP Earnings (Loss) from Discontinued Operations
      
 (1,588)
          
  (1,588)
GAAP Net Earnings (Loss)
  
 $      645
 $  4,234
$  (1,588)
$  4,542
$  6,366
 $  1,373
 $  4,668
  
$  20,240
                     

Ongoing earnings include earnings from discontinued operations and exclude the impact of non-recurring items and net unrealized mark-to-market gains and losses on economic hedges. Ongoing earnings also exclude gains and losses from speculative trading activity and unrealized losses recorded as impairments of assets held in the Nuclear Decommissioning Trust.


 
 
 

PNM Resources
Schedule 4
2007 Reconciliation of Ongoing to GAAP Earnings
               (Unaudited)

 
   
Six Months Ended June 30, 2007
    
   
(in thousands)
    
   
 
Utilities
 
Altura
 
FCP
EnergyCo
(50%)
Corp/
Other
  
 
PNMR
   
PNM
Electric
TNMP Electric
PNM Gas
            
Ongoing Earnings (Loss)
  
 $  19,202
 $  5,172
$12,613
$ 5,983
$12,417
 $     973
$ (11,541)
  
$ 44,819
                     
Non-Recurring Items
                    
JV formation costs
  
                    -
                -
               -
               -
               -
                    -
       (2,533)
  
      (2,533)
Favorable IRS decision
              
       16,038
  
      16,038
Twin Oaks III Impairment
              
       (2,042)
  
      (2,042)
Loss on contribution of Altura (Twin Oaks)
              
        (2,197)
  
       (2,197)
Speculative trading
  
                    -
                -
               -
               -
       (1,069)
                    -
                -
  
       (1,069)
Unrealized impairments of NDT securities
  
              (208)
                -
               -
               -
               -
                    -
                -
  
         (208)
Economic mark-to-market hedges
  
            (4,123)
                -
            321
               -
           900
                    -
                -
  
      (2,902)
Total Non-Recurring Items
  
     (4,331)
         -
      321
        -
     (169)
           -
   9,266
  
  5,087
                     
                     
GAAP Earnings (Loss) from Continuing Operations
  
     14,871
    5,172
  
  5,983
 12,248
         973
  (2,275)
  
 36,972
GAAP Earnings (Loss) from Discontinued Operations
      
 12,934
          
 12,934
GAAP Net Earnings (Loss)
  
 $  14,871
 $  5,172
$12,934
$ 5,983
$12,248
 $     973
$  (2,275)
  
$ 49,906
                     

Ongoing earnings include earnings from discontinued operations and exclude the impact of non-recurring items and net unrealized mark-to-market gains and losses on economic hedges. Ongoing earnings also exclude gains and losses from speculative trading activity and unrealized losses recorded as impairments of assets held in the Nuclear Decommissioning Trust.

 
PNM Resources
Schedule 7:
2007 Reconciliation of Ongoing to GAAP Earnings Per Share
(Unaudited)

 

   
Quarter Ended June 30, 2007
    
                     
   
 
Utilities
 
Altura
 
FCP
EnergyCo
(50%)
Corp/
Other
 
PNMR
   
PNM Electric
TNMP Electric
   PNM
    Gas
          
Ongoing Earnings (Loss)
  
 $ 0.09
 $0.05
$  (0.03)
$  0.06
$  0.07
 $   0.02
$  (0.07)
  
         $  0.19
                     
Non-Recurring Items
                    
JV formation costs
  
              -
             -
           -
           -
          -
                  -
      (0.02)
  
     (0.02)
Favorable IRS decision
              
               0.20
  
               0.20
Twin Oaks III Impairment
              
      (0.02)
  
     (0.02)
Loss on contribution of Altura (Twin Oaks)
              
      (0.03)
  
     (0.03)
Speculative trading
  
              -
             -
           -
           -
      0.01
                  -
             -
  
               0.01
Unrealized impairments of NDT securities
  
              -
             -
           -
           -
          -
                  -
             -
  
            -
Economic mark-to-market hedges
  
       (0.08)
             -
       0.01
           -
          -
                  -
             -
  
     (0.07)
Total Non-Recurring Items
  
(0.08)
0.00
0.01
0.00
0.01
0.00
              0.13
  
             0.07
                     
                     
GAAP Earnings (Loss) from Continuing Operations
  
0.01
0.05
  
0.06
0.08
0.02
             0.06
  
             0.28
GAAP Earnings (Loss) from Discontinued Operations
      
(0.02)
          
(0.02)
GAAP Net Earnings (Loss)
  
 $ 0.01
 $0.05
$  (0.02)
$  0.06
$  0.08
 $   0.02
         $  0.06
  
        $   0.26
Average Diluted Shares Outstanding: 78,792,899
                    
                     

Ongoing earnings include earnings from discontinued operations and exclude the impact of non-recurring items and net unrealized mark-to-market gains and losses on economic hedges. Ongoing earnings also exclude gains and losses from speculative trading activity and unrealized losses recorded as impairments of assets held in the Nuclear Decommissioning Trust.

 
 
PNM Resources
Schedule 8:
2007 Reconciliation of Ongoing to GAAP Earnings Per Share
(Unaudited)

 
   
Six Months Ended June 30, 2007
    
                     
   
 
Utilities
 
Altura
 
FCP
EnergyCo
(50%)
Corp/
 Other
 
PNMR
   
PNM Electric
TNMP Electric
    PNM
     Gas
          
Ongoing Earnings (Loss)
  
 $ 0.24
 $0.07
$  0.16
$  0.08
$  0.16
 $    0.01
$  (0.15)
  
$  0.57
                     
Non-Recurring Items
                    
JV formation costs
  
              -
             -
           -
           -
          -
                  -
      (0.03)
  
     (0.03)
Favorable IRS decision
              
               0.20
  
               0.20
Twin Oaks III Impairment
              
      (0.02)
  
     (0.02)
Loss on contribution of Altura (Twin Oaks)
              
      (0.03)
  
     (0.03)
Speculative trading
  
              -
             -
           -
           -
    (0.01)
                  -
             -
  
      (0.01)
Unrealized impairments of NDT securities
  
       (0.00)
             -
           -
           -
          -
                  -
             -
  
     (0.00)
Economic mark-to-market hedges
  
       (0.05)
             -
           -
           -
      0.01
                  -
             -
  
     (0.04)
Total Non-Recurring Items
  
(0.05)
0.00
0.00
0.00
0.00
0.00
0.12
  
0.07
                     
                     
GAAP Earnings (Loss) from Continuing Operations
  
0.19
0.07
  
0.08
0.16
0.01
(0.03)
  
0.48
GAAP Earnings (Loss) from Discontinued Operations
      
0.16
          
0.16
GAAP Net Earnings (Loss)
  
 $ 0.19
 $0.07
$  0.16
$  0.08
$  0.16
 $    0.01
$  (0.03)
  
$  0.64
Average Diluted Shares Outstanding: 78,446,067
                    

Ongoing earnings include earnings from discontinued operations and exclude the impact of non-recurring items and net unrealized mark-to-market gains and losses on economic hedges. Ongoing earnings also exclude gains and losses from speculative trading activity and unrealized losses recorded as impairments of assets held in the Nuclear Decommissioning Trust.

 
 
 

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