-----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, L9b07m1OooTpHj/JJSEN+8rwKlnrVgPqgWCbRdfWGcKvIzPWm4zrcgJQLF/uPQq5 Y8zx1eQAk0GCeJ7wHunb3A== 0000092122-05-000200.txt : 20050426 0000092122-05-000200.hdr.sgml : 20050426 20050426084450 ACCESSION NUMBER: 0000092122-05-000200 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 7 CONFORMED PERIOD OF REPORT: 20050426 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20050426 DATE AS OF CHANGE: 20050426 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SOUTHERN CO CENTRAL INDEX KEY: 0000092122 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 580690070 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03526 FILM NUMBER: 05771574 BUSINESS ADDRESS: STREET 1: 270 PEACHTREE ST CITY: ATLANTA STATE: GA ZIP: 30303 BUSINESS PHONE: 4045065000 MAIL ADDRESS: STREET 1: 270 PEACHTREE STREET CITY: ATLANTA STATE: GA ZIP: 30303 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SOUTHERN POWER CO CENTRAL INDEX KEY: 0001160661 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 582598670 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-98553 FILM NUMBER: 05771575 BUSINESS ADDRESS: STREET 1: 600 N 18TH ST. CITY: BIRMINGHAM STATE: AL ZIP: 35291 BUSINESS PHONE: 4045067146 MAIL ADDRESS: STREET 1: 241 RALPH MCGILL BLVD STREET 2: NE BIN 10116 CITY: ATLANTA STATE: GA ZIP: 30308 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SAVANNAH ELECTRIC & POWER CO CENTRAL INDEX KEY: 0000086940 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 580418070 STATE OF INCORPORATION: GA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05072 FILM NUMBER: 05771576 BUSINESS ADDRESS: STREET 1: 600 BAY STREET EAST CITY: SAVANNAH STATE: GA ZIP: 31401 BUSINESS PHONE: 912-644-7171 MAIL ADDRESS: STREET 1: 600 BAY STREET EAST CITY: SAVANNAH STATE: GA ZIP: 31401 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MISSISSIPPI POWER CO CENTRAL INDEX KEY: 0000066904 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 640205820 STATE OF INCORPORATION: MS FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11229 FILM NUMBER: 05771577 BUSINESS ADDRESS: STREET 1: 2992 WEST BEACH CITY: GULFPORT STATE: MS ZIP: 39501 BUSINESS PHONE: 2288641211 MAIL ADDRESS: STREET 1: 2992 WEST BEACH CITY: GULFPORT STATE: MS ZIP: 39501 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GULF POWER CO CENTRAL INDEX KEY: 0000044545 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 590276810 STATE OF INCORPORATION: ME FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-31737 FILM NUMBER: 05771578 BUSINESS ADDRESS: STREET 1: ONE ENERGY PLACE CITY: PENSACOLA STATE: FL ZIP: 32520 BUSINESS PHONE: 8504446111 MAIL ADDRESS: STREET 1: ONE ENERGY PLACE CITY: PENSACOLA STATE: FL ZIP: 32520 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GEORGIA POWER CO CENTRAL INDEX KEY: 0000041091 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 580257110 STATE OF INCORPORATION: GA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-06468 FILM NUMBER: 05771580 BUSINESS ADDRESS: STREET 1: 241 RALPH MCGILL BOULEVARD CITY: ATLANTA STATE: GA ZIP: 30308 BUSINESS PHONE: 4045066526 MAIL ADDRESS: STREET 1: 241 RALPH MCGILL BOULEVARD CITY: ATLANTA STATE: GA ZIP: 30308 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ALABAMA POWER CO CENTRAL INDEX KEY: 0000003153 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 630004250 STATE OF INCORPORATION: AL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03164 FILM NUMBER: 05771581 BUSINESS ADDRESS: STREET 1: 600 N 18TH ST STREET 2: P O BOX 2641 CITY: BIRMINGHAM STATE: AL ZIP: 35291 BUSINESS PHONE: 2052571000 MAIL ADDRESS: STREET 1: 600 N 18TH ST CITY: BIRMINGHAM STATE: AL ZIP: 35291 8-K 1 firstquarter05_8k.txt 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) April 26, 2005 -------------------------------- Commission Registrant, State of Incorporation, I.R.S. Employer File Number Address and Telephone Number Identification No. 1-3526 The Southern Company 58-0690070 (A Delaware Corporation) 270 Peachtree Street, N.W. Atlanta, Georgia 30303 (404) 506-5000 1-3164 Alabama Power Company 63-0004250 (An Alabama Corporation) 600 North 18th Street Birmingham, Alabama 35291 (205) 257-1000 1-6468 Georgia Power Company 58-0257110 (A Georgia Corporation) 241 Ralph McGill Boulevard, N.E. Atlanta, Georgia 30308 (404) 506-6526 0-2429 Gulf Power Company 59-0276810 (A Maine Corporation) One Energy Place Pensacola, Florida 32520 (850) 444-6111 001-11229 Mississippi Power Company 64-0205820 (A Mississippi Corporation) 2992 West Beach Gulfport, Mississippi 39501 (228) 864-1211 1-5072 Savannah Electric and Power Company 58-0418070 (A Georgia Corporation) 600 East Bay Street Savannah, Georgia 31401 (912) 644-7171 333-98553 Southern Power Company 58-2598670 (A Delaware Corporation) 270 Peachtree Street, N.W. Atlanta, Georgia 30303 (404) 506-5000 The addresses of the registrants have not changed since the last report. This combined Form 8-K is furnished separately by seven registrants: The Southern Company, Alabama Power Company, Georgia Power Company, Gulf Power Company, Mississippi Power Company, Savannah Electric and Power Company and Southern Power Company. Information contained herein relating to each registrant is furnished by each registrant solely on its own behalf. Each registrant makes no representation as to information relating to the other registrants. 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. --------------------------------------------- The information in this Current Report on Form 8-K, including the exhibits attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities under that Section. Furthermore, such information, including the exhibits attached hereto, shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing. On April 26, 2005, The Southern Company issued a press release regarding its earnings for the three months ended March 31, 2005. A copy of this release is being furnished as Exhibit 99.01 to this Current Report on Form 8-K. In addition, certain additional information regarding the financial results for the three months ended March 31, 2005 is being furnished as Exhibits 99.02 through 99.06 to this Current Report on Form 8-K. Exhibits The exhibits hereto contain business segment information for Alabama Power Company, Georgia Power Company, Gulf Power Company, Mississippi Power Company, Savannah Electric and Power Company and Southern Power Company. Accordingly, this report is also being furnished on behalf of each such registrant. The following exhibits relate to the three months ended March 31, 2005: Exhibit 99.01 Press Release. Exhibit 99.02 Financial Highlights. Exhibit 99.03 Significant Factors Impacting EPS. Exhibit 99.04 Analysis of Consolidated Earnings. Exhibit 99.05 Kilowatt-Hour Sales. Exhibit 99.06 Financial Overview. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, each of the registrants has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: April 26, 2005 THE SOUTHERN COMPANY By /s/W. Dean Hudson W. Dean Hudson Comptroller ALABAMA POWER COMPANY GEORGIA POWER COMPANY GULF POWER COMPANY MISSISSIPPI POWER COMPANY SAVANNAH ELECTRIC AND POWER COMPANY SOUTHERN POWER COMPANY By /s/Wayne Boston Wayne Boston Assistant Secretary EX-99.01 2 x9901.txt Exhibit 99.01 News Media Contact: Marc Rice 404-506-5333 or 1-866-506-5333 media@southerncompany.com www.southerncompany.com Investor Relations Contact: Glen Kundert 404-506-5135 gakunder2@southernco.com April 26, 2005 Southern Company reports first quarter earnings ATLANTA - Southern Company today reported first quarter earnings of $323.0 million, or 43 cents a share, compared with $331.1 million, or 45 cents a share, in the same period a year ago. The company said that several factors contributing positively to earnings -- including continued customer growth, sustained economic strength in the Southeast and the overall impact of regulatory actions in Georgia that took effect in the first quarter -- were offset in part by mild weather, which reduced residential demand for electricity, and also by increased operations and maintenance costs. Chairman, President and CEO David M. Ratcliffe said the first quarter earnings, which exceeded analysts' estimates, were boosted by the continued economic health of the Southeast and the region's attractiveness to new residents and businesses. "The fundamentals of our business remain strong," Ratcliffe said. "I believe we will meet our financial, operational and customer satisfaction targets for the year." Revenues for the first quarter were $2.86 billion, compared with $2.73 billion in the same period a year ago, an increase of 4.8 percent. Kilowatt-hour sales to retail customers in Southern Company's four-state service area decreased 0.8 percent in the first quarter, compared with 2004. Residential electricity use decreased 3.5 percent. Electricity use by commercial customers - -- offices, stores and other non-manufacturing firms - increased 0.9 percent. Industrial energy use increased 0.1 percent. Total sales of electricity to Southern Company's customers in the Southeast, including wholesale sales, decreased 0.6 percent in the first quarter, compared with the previous year. In conjunction with this earnings announcement, Southern Company has posted on its Web site a package of detailed financial information on its first quarter performance. These materials are available at 7:30 a.m. EDT April 26 at www.southerncompany.com. Southern Company's financial analyst call will be at 1 p.m. EDT April 26, at which time Ratcliffe and Chief Financial Officer Tom Fanning will discuss earnings and earnings guidance as well as a general business update. Investors, media and the public may listen to a live Webcast of the call at www.southerncompany.com. A replay of the Webcast will be available at the site for 12 months. With more than 4 million customers and nearly 39,000 megawatts of generating capacity, Atlanta-based Southern Company (NYSE: SO) is the premier super-regional energy company in the Southeast and a leading U.S. producer of electricity. Southern Company owns electric utilities in four states, a growing competitive generation company and a competitive retail natural gas business, as well as fiber optics and wireless communications. Southern Company brands are known for excellent customer service, high reliability and retail electric prices that are 15 percent below the national average. Southern Company has been ranked the nation's top energy utility in the American Customer Satisfaction Index five years in a row. Southern Company has more than 500,000 shareholders, making its common stock one of the most widely held in the United States. Visit the Southern Company Web site at www.southerncompany.com. Forward Looking Statements Note: Certain information contained in this release is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, statements concerning results of operations and Southern Company's strategies. Southern Company cautions that there are certain factors that can cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of Southern Company; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Southern Company's Annual Report on Form 10-K for the year ended Dec. 31, 2004, and subsequent securities filings, could cause results to differ materially from management expectations as suggested by such forward-looking information: the impact of recent and future federal and state regulatory change, including legislative and regulatory initiatives regarding deregulation and restructuring of the electric utility industry, and also changes in environmental, tax and other laws and regulations to which Southern Company and its subsidiaries are subject, as well as changes in application of existing laws and regulations; current and future litigation, regulatory investigations, proceedings or inquiries, including the pending EPA civil actions against certain Southern Company subsidiaries, IRS audits and Mirant-related matters; the effects, extent and timing of the entry of additional competition in the markets in which Southern Company's subsidiaries operate; variations in demand for electricity and gas, including those relating to weather, the general economy and population and business growth (and declines); available sources and costs of fuels; ability to control costs; investment performance of Southern Company's employee benefit plans; advances in technology; state and federal rate regulations and the impact of pending and future rate cases and negotiations; the performance of projects undertaken by the non-utility businesses and the success of efforts to invest in and develop new opportunities; internal restructuring or other restructuring options that may be pursued; potential business strategies, including acquisitions or dispositions of assets or businesses, which cannot be assured to be completed or beneficial to Southern Company or its subsidiaries; the ability of counterparties of Southern Company and its subsidiaries to make payments as and when due; the ability to obtain new short- and long-term contracts with neighboring utilities; the direct or indirect effect on Southern Company's business resulting from terrorist incidents and the threat of terrorist incidents; interest rate fluctuations and financial market conditions and the results of financing efforts, including Southern Company's and its subsidiaries' credit ratings; the ability of Southern Company and its subsidiaries to obtain additional generating capacity at competitive prices; catastrophic events such as fires, earthquakes, floods, hurricanes or other similar occurrences; the direct or indirect effects on Southern Company's business resulting from incidents similar to the August 2003 power outage in the Northeast; and the effect of accounting pronouncements issued periodically by standard-setting bodies. Southern Company and its subsidiaries expressly disclaim any obligation to update any forward-looking information. ### EX-99.02 3 x9902.txt Exhibit 99.02 Southern Company Financial Highlights (In Millions of Dollars Except Earnings Per Share) 3 Months Ended March --------------------------- 2005 2004 ---- ---- (Notes) (Notes) Consolidated Earnings- (See Notes) Retail Business $ 233 $ 245 Competitive Generation 58 54 ------ ----- Total 291 299 Synthetic Fuels 22 20 Leasing Business 6 7 Parent Company and Other 4 5 ------ ------ Net Income $ 323 $ 331 ====== ====== Basic Earnings Per Share-(See Notes) $ 0.43 $ 0.45 Operating Revenues $2,864 $2,732 Average Shares Outstanding (in millions) 744 737 End of Period Shares Outstanding (in millions) 744 737 Notes - ----- - -Diluted earnings per share are not more than 1 cent for any period reported above and are not material. - -Certain prior year data has been reclassified to conform with current year presentation. - -Information contained in this report is subject to audit and adjustments and certain classifications may be different from final results published in the Form 10-Q. EX-99.03 4 x9903.txt Exhibit 99.03 Significant Factors Impacting EPS (Notes) 3 Months Ended March --------------------------- 2005 2004 Change ---- ---- ------ Consolidated Earnings- $0.43 $0.45 $(0.02) Significant Factors: Retail Business (0.02) Competitive Generation - Synthetic Fuels - Leasing Business - Parent Company and Other - Impact of Additional Shares - ------- Total $(0.02) ======= Notes - ----- - -Diluted earnings per share are not more than 1 cent for any period reported above and are not material. - -Certain prior year data has been reclassified to conform with current year presentation. - -Information contained in this report is subject to audit and adjustments and certain classifications may be different from final results published in the Form 10-Q. EX-99.04 5 x9904.txt Exhibit 99.04 Southern Company Analysis of Consolidated Earnings (In Millions of Dollars) 3 Months Ended March ---------------------------------------- 2005 2004 Change ---- ---- ------ Income Account- Retail Revenue $2,269 $2,144 $125 Wholesale Revenue 347 351 (4) Other Electric Revenues 101 93 8 Non-regulated Operating Revenues 147 144 3 ------ ------ ---- Total Revenues 2,864 2,732 132 ------ ------ ---- Fuel and Purchased Power 1,018 959 59 Non-fuel O & M 821 751 70 Depreciation and Amortization 293 241 52 Taxes Other Than Income Taxes 163 158 5 ------ ------ ---- Total Operating Expenses 2,295 2,109 186 ------ ------ ---- Operating Income 569 623 (54) Other Income, net 11 (2) 13 Interest Charges and Dividends 178 167 11 Income Taxes 79 123 (44) ------ ------ ---- NET INCOME (See Notes) $ 323 $ 331 $ (8) ====== ====== ===== Notes - ----- - -Certain prior year data has been reclassified to conform with current year presentation. - -Information contained in this report is subject to audit and adjustments and certain classifications may be different from final results published in the Form 10-Q. EX-99.05 6 x9905.txt Exhibit 99.05 Kilowatt-Hour Sales (In Millions of KWHs) 3 Months Ended March ------------------------------------ 2005 2004 Change ---- ---- ------ Kilowatt-Hour Sales- Total Sales 45,527 45,785 -0.6% Total Retail Sales- 36,728 37,030 -0.8% Residential 11,641 12,063 -3.5% Commercial 11,399 11,298 0.9% Industrial 13,439 13,420 0.1% Other 249 249 0.1% Total Wholesale Sales 8,799 8,755 0.5% Notes - ----- - -Certain prior year data has been reclassified to conform with current year presentation. - -Information contained in this report is subject to audit and adjustments and certain classifications may be different from final results published in the Form 10-Q. EX-99.06 7 x9906.txt Exhibit 99.06 Southern Company Financial Overview (In Millions of Dollars) 3 Months Ended March ----------------------------------------- 2005 2004 % Change ---- ---- -------- Consolidated - Operating Revenues $2,864 $2,732 4.8% Earnings Before Income Taxes 402 454 -11.4% Net Income 323 331 -2.5% Alabama Power - Operating Revenues $970 $960 1.0% Earnings Before Income Taxes 113 153 -26.1% Net Income Available to Common 93 91 2.9% Georgia Power - Operating Revenues $1,370 $1,199 14.3% Earnings Before Income Taxes 227 225 0.9% Net Income Available to Common 142 144 -1.0% Gulf Power - Operating Revenues $225 $215 4.5% Earnings Before Income Taxes 22 27 -17.0% Net Income Available to Common 15 17 -13.0% Mississippi Power - Operating Revenues $215 $210 2.6% Earnings Before Income Taxes 28 29 -1.9% Net Income Available to Common 17 17 -2.1% Savannah Electric - Operating Revenues $89 $72 22.5% Earnings Before Income Taxes 2 4 -58.4% Net Income Available to Common 1 3 -77.2% Southern Power - Operating Revenues $153 $176 -13.0% Earnings Before Income Taxes 38 44 -15.2% Net Income Available to Common 23 27 -15.1% Notes - ----- - -Certain prior year data has been reclassified to conform with current year presentation. - -Information contained in this report is subject to audit and adjustments and certain classifications may be different from final results published in the Form 10-Q. -----END PRIVACY-ENHANCED MESSAGE-----