Atmos Energy presentation at New York Society of Security Analysts.NEW YORK--(BUSINESS WIRE)--Nov. 30, 1994--The following is a summary of a presentation today at the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Society of Security Analysts by Ronald L. Fancher, president and chief executive officer of Atmos Energy. -0- The geographic diversification and growth potential of Atmos Energy Corp. (NYSE NYSE See: New York Stock Exchange :ATO ATO Australian Taxation Office ATO Ambito Territoriale Ottimale (Italy) ATO Alpha Tau Omega ATO Air Traffic Organization (FAA) ATO Arab Towns Organization ATO Air Tasking Order ATO Assemble To Order ) distinguish it from other natural gas utilities, President and Chief Executive Officer Ronald L. Fancher said in a presentation today before the New York Society of Security Analysts. The company's long-standing corporate development for diversifying its exposure to weather patterns, local economic conditions and regulatory climates is working, Fancher said. In the fiscal year ended Sept. 30, 1994, the weather in the six states the company serves averaged slightly warmer than normal, though individual areas averaged from 9 percent colder than normal to 7 percent warmer than normal. The company's five-year annual customer growth rate was 4.3 percent, and the 10-year growth rate was over 8 percent, including acquisitions and internal growth. The acquisition of Greeley Gas Co. in December 1993 added nearly 20 percent to the company's customer base. "Greeley Gas Company serves ski and resort areas in Colorado, including Steamboat Springs, Durango and Crested Butte Butte, city, United States Butte (by  t), city (1990 pop. 33,336), seat of Silver Bow co., SW Mont.; inc. 1879. It is a trade, ranching, and industrial center. , which
are experiencing customer growth rates Growth RatesThe compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. of more than 8 percent per year. We also see good economic conditions in all of our service areas to support excellent internal growth," Fancher said. In 1994, the company absorbed exceptional expenses, including one-time expenses for the Greeley Gas acquisition, assimilation and an early retirement program. The company also implemented SFAS SFAS Statement of Financial Accounting Standards SFAS Special Forces Assessment and Selection SFAS Student Financial Aid Services SFAS Sport Fishing Association of Singapore SFAS Safety Features Actuation System SFAS Statewide Fixed Assets System 106 requiring accrual accounting Accrual Accounting An accounting method that measures the performance and position of a company by recognizing economic events regardless of when cash transactions happen. Notes: for post-retirement medical benefits. These costs reduced earnings for the year by 22 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , said James Purser PURSER. The person appointed by the master of a ship or vessel, whose duty it is to take care of the ship's books, in which everything on board is inserted, as well the names of mariners as the articles of merchandise shipped. Rosc. Ins. note. 2. , Atmos executive vice president and chief financial officer. Highlights of the year included a 1 cent per share quarterly dividend increase to 23 cents per share approved in November 1994, a three-for-two stock split in May 1993, and annual rate increases of $6.4 million granted during the fiscal year, of which $2.8 million was realized in 1994. The company is structured to compete in the industrial market despite the competitive post-FERC Order 636 environment. The company restructured its supplies in its Kentucky service area, which was most impacted by FERC FERC Federal Energy Regulatory Commission FERC FEMA Emergency Response Capability 636 deregulating de·reg·u·late tr.v. de·reg·u·lat·ed, de·reg·u·lat·ing, de·reg·u·lates To free from regulation, especially to remove government regulations from: deregulate the airline industry. interstate pipelines. About 48 percent of the company's throughput is to industrial (including agricultural) customers. The company experienced a 2.2 Bcf, or 9.2 percent, increase in industrial throughput in its Kentucky interstate-supplied system in 1994. Looking ahead, Fancher said Atmos expects to see the benefits of the actions taken in 1994, including the restructuring completed in Greeley Gas Co. The company also will have the full impact of rate increases granted late in the 1994 heating season, and a $1.5 million annual increase implemented in November 1994 in a portion of the company's West Texas service area. The company will continue its corporate development strategy of seeking natural gas distribution properties to purchase, and its focus on expense management. "We expect to add to our customer base and our bottom line," Fancher said. Employees, management and the board of directors own nearly a quarter of the company's stock, and about 98 percent of Atmos employees are shareholders, he noted. Atmos Energy Corp. of Dallas provides natural gas service to approximately 650,000 customers in Texas, Colorado, Kansas, Missouri, Louisiana, and Kentucky through its operating companies - Energas Co., Greeley Gas Co., Trans Louisiana Gas Co. and Western Kentucky Gas Co. NOTE: Teleconference available via Darome. Call 800/424-2149. CONTACT: Atmos Energy Corp.
Investor/Analyst:
Jack Eversull, 214/788-3729
or
Media:
Margaret Watson, 214/450-4050
REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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