8-K 1 a2120500z8-k.txt FORM 8-K 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: OCTOBER 16, 2003 COMMISSION EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER STATE OF I.R.S. EMPLOYER FILE NUMBER AND PRINCIPAL OFFICE ADDRESS AND TELEPHONE NUMBER INCORPORATION ID. NUMBER ----------- ----------------------------------------------------- ------------- ---------------- 1-14514 Consolidated Edison, Inc. New York 13-3965100 4 Irving Place, New York, New York 10003 (212) 460-4600 1-1217 Consolidated Edison Company of New York, Inc. New York 13-5009340 4 Irving Place, New York, New York 10003 (212) 460-4600 1-4315 Orange and Rockland Utilities, Inc. New York 13-1727729 One Blue Hill Plaza, Pearl River, New York 10965 (845) 352-6000 -------------------------------------------------------------------------------------------------------------------
INFORMATION TO BE INCLUDED IN THE REPORT ITEM 5. OTHER EVENTS Third Quarter Financial Results Unaudited net revenues (operating revenues less purchased power, fuel and gas purchased for resale), operating income and net income for common stock for the three months ended September 30, 2003 and 2002 for Consolidated Edison, Inc. (Con Edison) and its consolidated subsidiaries Consolidated Edison Company of New York, Inc. (Con Edison of New York) and Orange and Rockland Utilities, Inc. (O&R, and together with Con Edison and Con Edison of New York, the Companies) were as follows:
Con Edison Con Edison of New York O&R ---------------------------- ---------------------------- ---------------------------- Three months ended September 30, (Millions of Dollars) 2003 2002 2003 2002 2003 2002 --------------------------- ------------- -------------- ------------- -------------- -------------- ------------- Net revenues $1,337 $1,317 $1,180 $1,180 $103 $95 --------------------------- ------------- -------------- ------------- -------------- -------------- ------------- Operating income $353 $386 $337 $352 $14 $24 --------------------------- ------------- -------------- ------------- -------------- -------------- ------------- Net income for common stock $257 $284 $253 $259 $15 $19 --------------------------- ------------- -------------- ------------- -------------- -------------- -------------
The Companies' results for the three months ended September 30, 2003, as compared to the 2002 period, were negatively affected by the lower than normal number of hot days during the summer of 2003 compared to an exceptionally warm summer in 2002, higher depreciation and property tax expense and the August 2003 power outage. For Con Edison and Con Edison of New York, the results also reflect a reduction in net credits for pension and other post-retirement benefits. In addition, for Con Edison, results were negatively affected by the current weak margins in the wholesale electric markets affecting sales from unregulated generation assets. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS 99 Press release, dated October 16, 2003, furnished pursuant to Item 12 of Form 8-K. ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION On October 16, 2003, Con Edison issued a press release reporting, among other things, its results of operations for the quarterly period ended September 30, 2003. The press release, which is "furnished" as an exhibit to this report pursuant to Item 12 of Form 8-K, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liability of that section and shall not be incorporated by reference into any filing under the Securities Act of 1933. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CONSOLIDATED EDISON, INC. CONSOLIDATED EDISON COMPANY OF NEW YORK, INC. ORANGE AND ROCKLAND UTILITIES, INC. By /s/ EDWARD J. RASMUSSEN ------------------------------- Edward J. Rasmussen Vice President and Controller DATE: October 16, 2003