-----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, A39pBe3JlJra31/NfK40/S0yDVZ/Fgap/JTDZfVF/pRd85HmetO8fmy+8ebsX3h3 dLwgtp98I6HlPr+CRmNi2Q== 0001126956-07-000045.txt : 20071026 0001126956-07-000045.hdr.sgml : 20071026 20071026170806 ACCESSION NUMBER: 0001126956-07-000045 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20071026 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20071026 DATE AS OF CHANGE: 20071026 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LACLEDE GROUP INC CENTRAL INDEX KEY: 0001126956 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS DISTRIBUTION [4924] IRS NUMBER: 742976504 STATE OF INCORPORATION: MO FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-16681 FILM NUMBER: 071194223 BUSINESS ADDRESS: STREET 1: 720 OLIVE ST CITY: ST LOUIS STATE: MO ZIP: 63101 BUSINESS PHONE: 3143420500 MAIL ADDRESS: STREET 1: 720 OLIVE ST STREET 2: RM 1517 CITY: ST LOUIS STATE: MO ZIP: 63101 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LACLEDE GAS CO CENTRAL INDEX KEY: 0000057183 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS DISTRIBUTION [4924] IRS NUMBER: 430368139 STATE OF INCORPORATION: MO FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-01822 FILM NUMBER: 071194224 BUSINESS ADDRESS: STREET 1: 720 OLIVE ST CITY: ST LOUIS STATE: MO ZIP: 63101 BUSINESS PHONE: 3143420500 MAIL ADDRESS: STREET 1: 720 OLIVE ST CITY: ST LOUIS STATE: MO ZIP: 63101 8-K 1 earngs8k07.htm 2007 YEAR END EARNINGS RELEASE earngs8k07.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):
October 26, 2007
 

Commission File No.
 
Exact Name of Registrant as Specified in its Charter and Principal Office Address and Telephone Number
State of Incorporation
I.R.S. Employer Identification Number
1-16681
 
The Laclede Group, Inc.
 
720 Olive Street
St. Louis, MO 63101
314-342-0500
Missouri
74-2976504
1-1822
 
Laclede Gas Company
 
720 Olive Street
St. Louis, MO 63101
314-342-0500
Missouri
43-0368139
 

 
 
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 13e-4(c))

 


 
 

 

 
Item 2.02 Results of Operations and Financial Condition
 
On October 26, 2007, the Company issued its earnings news release announcing its unaudited results for the year ended September 30, 2007.  The text of that release is included in Exhibit 99.1 attached to this report.
 
Item 9.01 Financial Statements and Exhibits
 
(d) Exhibits
 
99.1 Press release of The Laclede Group, Inc. dated October 26, 2007.
 


 
 

 

 

 

SIGNATURES
 
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.
 

 

 
   
THE LACLEDE GROUP, INC.
 
Date:  October 26, 2007
 
By: 
 
/s/D. H. Yaeger
     
D. H. Yaeger
Chairman, President, and
Chief Executive Officer
 
 
   
LACLEDE GAS COMPANY
 
Date:  October 26, 2007
 
By: 
 
/s/D.H. Yaeger
     
D. H. Yaeger
Chairman, President, and
Chief Executive Officer
 


   

 





EX-99.1 2 ex99.htm 2007 FY EARNINGS PRESS RELEASE OF THE LACLEDE GROUP ex99.htm
NEWS RELEASE
THE LACLEDE GROUP
720 Olive Street, St. Louis, MO 63101

CONTACT: George Csolak
(314) 342-0652
  
  FOR IMMEDIATE RELEASE

The Laclede Group Achieves Record Earnings for Fifth Consecutive Year

ST. LOUIS, MO, October 26, 2007 - The Laclede Group, Inc., (NYSE:LG) reported its fifth consecutive year of record earnings today. For fiscal year 2007, which ended September 30, consolidated earnings were $49.8 million, compared with $49.0 million in fiscal 2006. Diluted earnings per share were $2.31 for the year, compared with diluted earnings of $2.30 per share for fiscal 2006.
Results reported by Laclede Group’s regulated subsidiary, Laclede Gas Company, which celebrated its 150th year of business during this fiscal year, improved $3.6 million compared to fiscal 2006. The improvement was primarily due to the effect of higher utility sales volumes attributable to colder weather, a general rate increase effective August 1, 2007 and additional Infrastructure System Replacement Surcharge revenues. These factors were partially offset by higher operating and depreciation expenses. Laclede Gas is Missouri’s largest natural gas distribution utility.
Net income for SM&P Utility Resources, Inc., Laclede Group’s non-regulated underground facility locating and marking service business, increased $.9 million compared to last year.  The increase was primarily due to the effect of a non-recurring charge related to settlement costs associated with employment-related litigation recorded last year and the addition of new business in existing markets this year, which were partially offset by higher operating expenses this year.
-more-
 

Laclede Energy Resources, Inc. (LER), Laclede Group’s non-regulated natural gas commodity service provider, posted earnings totaling $13.3 million for fiscal 2007 compared to $17.1 million in fiscal 2006. While LER achieved increased sales volumes this year over last, margins this year were reduced as pricing volatility in Gulf Coast markets stabilized.
 
For further details concerning The Laclede Group’s fiscal 2007 results, see the accompanying unaudited Statements of Consolidated Income.
 
Note: This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. The Company's future operating results may be affected by various uncertainties and risk factors, many of which are beyond the Company's control, including weather conditions, governmental and regulatory policy and action, the competitive environment and economic factors. For a more complete description of these uncertainties and risk factors, see the Company's Form 10-Q for the quarter ended June 30, 2007, filed with the Securities and Exchange Commission.

#  # #





 
UNAUDITED
 
STATEMENTS OF CONSOLIDATED INCOME
 
THE LACLEDE GROUP, INC.
 
(Thousands, Except Per Share Amounts)
     
Three Months Ended
September 30,
 
Twelve Months Ended
September 30,
   
2007
 
2006
 
2007
 
2006
                 
OPERATING REVENUES
               
 
Regulated
               
 
   Gas distribution
 
$  103,777
 
$    91,637
 
$ 1,131,554
 
$ 1,141,011
 
Non-Regulated
               
 
   Services
 
47,463
 
46,089
 
165,733
 
162,523
 
   Gas marketing
 
170,616
 
130,135
 
718,704
 
689,572
 
   Other
 
1,416
 
1,133
 
5,603
 
4,445
 
Total operating revenues
 
323,272
 
268,994
 
2,021,594
 
1,997,551
                   
OPERATING EXPENSES
               
 
Regulated
               
 
   Natural and propane gas
 
51,335
 
47,989
 
797,924
 
821,721
 
   Other operation expenses
 
32,019
 
26,282
 
131,798
 
128,180
 
   Maintenance
 
6,818
 
5,463
 
24,306
 
21,198
 
   Depreciation and amortization
 
8,450
 
8,368
 
34,080
 
30,904
 
   Taxes, other than income taxes
 
7,894
 
8,127
 
68,361
 
71,038
 
Total regulated operating expenses
 
106,516
 
96,229
 
1,056,469
 
1,073,041
 
Non-Regulated
               
 
   Services
 
41,738
 
41,070
 
156,658
 
155,133
 
   Gas marketing
 
167,465
 
126,446
 
698,962
 
662,391
 
   Other
 
761
 
603
 
4,239
 
3,711
 
Total operating expenses
 
316,480
 
264,348
 
1,916,328
 
1,894,276
Operating Income
 
6,792
 
4,646
 
105,266
 
103,275
Other Income and (Income Deductions) – Net
 
1,409
 
1,659
 
6,812
 
5,508
                   
Interest Charges:
               
 
Interest on long-term debt
 
5,625
 
5,626
 
22,502
 
22,329
 
Interest on long-term debt to unconsolidated affiliate trust
 
893
 
893
 
3,573
 
3,573
 
Other interest charges
 
2,955
 
2,524
 
11,154
 
10,277
 
Total interest charges
 
9,473
 
9,043
 
37,229
 
36,179
Income (Loss) Before Income Taxes and Dividends on Redeemable Preferred Stock – Laclede Gas
 
(1,272)
 
(2,738)
 
74,849
 
72,604
Income Tax Expense (Benefit)
 
(1,885)
 
(1,913)
 
25,035
 
23,567
Dividends on Redeemable Preferred Stock – Laclede Gas
 
10
 
11
 
43
 
48
Net Income (Loss)
 
$         603
 
 $        (836)
 
$      49,771
 
$      48,989
                 
Average Number of Common Shares Outstanding
 
21,514
 
21,298
 
21,455
 
21,247
Basic Earnings (Loss) Per Share of Common Stock
 
$ 0.03
 
$ (0.04)
 
$ 2.32
 
$ 2.31
Diluted Earnings (Loss) Per Share of Common Stock
 
$ 0.03
 
$ (0.04)
 
$ 2.31
 
$ 2.30

 



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