DPL Inc. Reports Second Quarter Results.DAYTON Dayton, city (1990 pop. 182,044), seat of Montgomery co., SW Ohio, on the Great Miami River where it is joined by the Stillwater River; inc. 1805. It is the trade center for a fertile farm area, but is best known for its involvement with industry, invention, and , Ohio--(BUSINESS WIRE)--July 10, 1998--DPL Inc. (NYSE NYSE See: New York Stock Exchange :DPL (Digital PowerLine) An earlier technology for transmitting a 1 Mbps data signal over electric power lines from Nortel Networks. It was developed in the late 1990s, but later abandoned due to implementation difficulties. See broadband over power lines. ) reported financial results for the second quarter. Year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. earnings were 69 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. , up 3 percent from 67 cents per share for the same period in 1997. Second quarter earnings were 23 cents per share, even with the same period last year. Allen Al·len , Edgar 1892-1943. American anatomist who is noted for his studies of hormones and for the discovery (1923) of estrogen. M. Hill, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of DPL Inc., said, "The second quarter includes seasonal maintenance expenditures to our utility system. Those efforts paid off during the short hot spell Noun 1. hot spell - a spell of hot weather while, spell, patch, piece - a period of indeterminate length (usually short) marked by some action or condition; "he was here for a little while"; "I need to rest for a piece"; "a spell of good weather"; "a patch of bad in June June: see month. as we were prepared to meet the increased needs of our customers during that period." A combination of hot weather toward the end of June and reduced regional generating capacity placed a strain on the electrical systems in Ohio and the entire Midwest Midwest or Middle West, region of the United States centered on the western Great Lakes and the upper-middle Mississippi valley. It is a somewhat imprecise term that has been applied to the northern section of the land between the Appalachians . As a result, some utilities experienced difficulty meeting the demand for electricity. In contrast, all Dayton Power and Light (DP&L) generating units were available and operating due to the exceptional performance of our employees and reflects our continuing commitment to maintain the reliability of our system. DP&L was able to meet the heavy energy demand without purchasing premium replacement power. As a result, DPL successfully met its second quarter earnings target and is on track to meet the 1998 financial and operating objectives. "Given the challenges of the quarter, we are proud of the results we were able to achieve for our customers and our shareholders," Hill concluded. DP&L, a subsidiary of DPL Inc., provides electricity, natural gas and other energy services to 500,000 customers in the Ohio region. The company's combined rates for electricity and gas service are consistently among the lowest in Ohio. -0-
DPL Inc.
FINANCIAL DATA
(Unaudited)
(in millions, except per share amounts)
Three Months Ended
_________________________
June
1998 1997
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Earnings Per Share of Common Stock $ 0.23 $ 0.23
Operating Revenues $ 307.5 $ 282.5
Net Income $ 35.2 $ 35.0
Average Number of Common Shares
Outstanding 152.7 151.3
Six Months Ended
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June
1998 1997
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Earnings Per Share of Common Stock $ 0.69 $ 0.67
Operating Revenues $ 685.4 $ 669.4
Net Income $ 105.4 $ 101.3
Average Number of Common Shares
Outstanding 152.5 151.0
12 Months Ended
_________________________
June
1998 1997
_________________________
Earnings Per Share of Common Stock $ 1.22 $ 1.17
Operating Revenues $ 1,348.9 $ 1,301.2
Net Income $ 185.5 $ 175.6
Average Number of Common Shares
Outstanding 152.1 150.8
CONTACT: DPL Inc., Dayton DPL Medialine, 937/224-5940 |
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