-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, Bh5jwRkn7C2XjckN4arwxPRx5Pw4iKl8pEft5t6IjC+fQ1BJCn7TnSoikrdIo+sY WC3LfginDGClyYVE/vbVGA== 0000950123-94-001242.txt : 19940808 0000950123-94-001242.hdr.sgml : 19940808 ACCESSION NUMBER: 0000950123-94-001242 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19940729 ITEM INFORMATION: Other events FILED AS OF DATE: 19940729 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LONG ISLAND LIGHTING CO CENTRAL INDEX KEY: 0000060251 STANDARD INDUSTRIAL CLASSIFICATION: 4931 IRS NUMBER: 111019782 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03571 FILM NUMBER: 94540781 BUSINESS ADDRESS: STREET 1: 175 E OLD COUNTRY RD CITY: HICKSVILLE STATE: NY ZIP: 11801 BUSINESS PHONE: 5169334590 8-K 1 LONG ISLAND LIGHTING COMPANY 1 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: July 29, 1994 LONG ISLAND LIGHTING COMPANY (Exact name of registrant as specified in charter) New York 1-3571 11-1019782 (State of Incorporation) (Commission File No.) (I.R.S. Employer Identification No.)
175 East Old Country Road, Hicksville, New York 11801 516-755-6650 (Address and telephone number of Principal Executive Offices) 2 Item 1. Changes in Control of Registrant Not applicable. Item 2. Acquisition or Disposition of Assets Not applicable. Item 3. Bankruptcy or Receivership Not applicable. Item 4. Changes in Registrant's Certifying Accountant Not applicable. Item 5. Other Information The Company reported earnings of $.10 per average common share on revenues of $626,310,000 for the three months ended June 30, 1994. In the same 1993 period, earnings per average common share were $.38 on revenues of $604,871,000. The average number of common shares outstanding in the two periods were 114,457,000 and 111,970,000, respectively. Earnings for the six months ended June 30, 1994, were $.60 per average common share on revenues of $1,498,454,000 compared to $.86 per average common share on revenues of $1,365,321,000 for the comparable 1993 period. The average number of common shares outstanding in the two periods were 113,496,000 and 111,875,000, respectively. As expected, earnings for the three and six month periods ended June 30, 1994 were significantly lower than the same periods in 1993 due to certain factors. These include the recognition of previously deferred storm costs, a lower allowed rate of return on common equity for the gas business as provided by the PSC, recognition of certain operating and maintenance expenses earlier in 1994 than in 1993, and a refinement in the Company's procedures used to estimate gas revenues not yet billed. The earlier recognition of these operating and maintenance expenses and the refinement in accounting procedures relating to gas revenues will have a positive impact on second half earnings. While the Company can give no assurances, it is expecting that its 1994 annual earnings will be comparable to its 1993 annual earnings. - 2 - 3 The Company also announced that its Board of Directors declared its quarterly common stock dividend of 44.5 cents per share. The dividend will be paid on October 1, 1994, to common shareowners of record on September 9, 1994. LONG ISLAND LIGHTING COMPANY FINANCIAL SUMMARY (In Thousands Except Per Share Amounts)
Three Months Ended Six Months Ended June 30 June 30 --------------------- ------------------------ 1994 1993 1994 1993 --------------------- ------------------------ Revenues $ 626,310 $ 604,871 $1,498,454 $1,365,321 Operating Income $ 139,478 $ 167,599 $ 323,345 $ 359,991 Net Income $ 24,787 $ 56,806 $ 94,409 $ 124,665 Earnings for Common Stock $ 11,516 $ 42,451 $ 67,866 $ 95,735 Average Common Shares Outstanding 114,457 111,970 113,496 111,875 Earnings Per Common Share $ .10 $ .38 $ .60 $ .86 Dividends Declared Per Common Share $ .445 $ .435 $ .89 $ .87
Item 6. Resignations of Registrant's Directors Not applicable. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits Not applicable. Item 8. Change in Fiscal Year Not applicable. - 3 - 4 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. LONG ISLAND LIGHTING COMPANY Registrant By /S/ ANTHONY NOZZOLILLO --------------------------------- ANTHONY NOZZOLILLO Senior Vice President-Finance Dated: July 29, 1994 - 4 - -----END PRIVACY-ENHANCED MESSAGE-----