Xcel Energy Inc. Posts Strong Third Quarter Earnings.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--Oct. 25, 2000 Xcel Energy's third quarter 2000 operating earnings Operating Earnings Profits after subtracting expenses such as marketing, cost of goods sold, administration and general operating costs from revenue. Notes: Tax and interest expenses are not subtracted - operating earnings are synonymous with EBIT (earnings before rose 14 percent from a year ago. Xcel Energy, formed in August by the merger of Minneapolis-based Northern States Power Co. and Denver-based New Century Energies, reported operating earnings of 72 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. for the third quarter of 2000, excluding special charges and extraordinary items, compared with 63 cents per share in the same period of 1999. "We are off to a strong start with good quarterly results even though we were only merged for about one-half of the quarter," said Wayne Wayne, city (1990 pop. 19,899), Wayne co., SE Mich., a suburb of Detroit, on the Lower Rouge River; inc. as a village 1869, and with surrounding areas as a city 1960. It has automobile and aircraft industries and other varied manufactures. Brunetti Brunetti may refer to:
aortic notch dicrotic n. cardiac notch 1. management team and we have established NRG NRG Energy NRG NRG Energy, Inc. NRG Natural Resources Group NRG New Radiancy Group NRG Network Referral Group NRG Network Resource Grapher NRG Numerics Rapporteur Group NRG Neuroprosthetics Research Group NRG notional requirements generator as a successful public company with strong financial results." Regulated operating earnings for the third quarter were 55 cents per share, excluding special charges and extraordinary items, compared with 54 cents per share for the same period in 1999. Higher revenues from sales growth and favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. weather in some regions were partially offset by higher operating costs operating costs npl → gastos mpl operacionales and revenue reductions accrued ac·crue v. ac·crued, ac·cru·ing, ac·crues v.intr. 1. To come to one as a gain, addition, or increment: interest accruing in my savings account. 2. for regulatory mechanisms in Colorado Colorado, state, United States Colorado (kŏlərăd`ə, –răd`ō, –rä`dō), state, W central United States, one of the Rocky Mt. states. and Texas. Xcel Energy's 82 percent stake in NRG Energy NRG Energy, Inc. (NRG) is a wholesale power generation company founded in 1989, which has an ownership interest in 47 power generating facilities around the world. The diverse portfolio of facilities, are primarily in the Northeast, South Central and Western regions of the United , a leading global energy company, contributed 23 cents per share in the third quarter of 2000, compared with 8 cents per share on a 100 percent ownership basis in 1999. Excluding special charges, total nonregulated earnings for the third quarter of 2000 were 17 cents per share, compared with 9 cents per share for the same period in 1999. Special charges and extraordinary items affecting third quarter 2000 earnings include 35 cents per share for costs related to completing the merger transaction and transition and integration activities incurred to date, including severance The act of dividing, or the state of being divided. The term severance has unique meanings in different branches of the law. Courts use the term in both civil and criminal litigation in two ways: first, when dividing a lawsuit into two or more parts, and second, when costs. In addition, special charges of 8 cents per share were recorded for asset impairments and other costs resulting from the post-merger strategic alignment of Xcel Energy's nonregulated businesses. An extraordinary charge of 2 cents per share is related to utility restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). in Texas and New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). . Xcel Energy's earnings for third quarter of 2000, including the impact of special charges and extraordinary items, were 27 cents per share. "Excluding the extraordinary charges from Texas restructuring and special charges for merger-related costs, we are on track to achieve earnings of $2.10 per share for 2000 and $2.20 for 2001," added Brunetti. For the 12 months ended Sept. 30, Xcel Energy had earnings per share (excluding special charges and extraordinary items) of $2.13, compared with $1.86 per share for the comparable period in 1999. NRG Energy contributed 44 cents per share to Xcel Energy's earnings for the 12 months ended Sept. 30, 2000, compared with 25 cents per share for the comparable period in 1999. Earnings for the 12 months ended Sept. 30, 2000, were reduced by 43 cents per share for the special charges discussed above, by 6 cents for special charges recorded in the fourth quarter of 1999 and by 6 cents for extraordinary charges related to utility restructuring in Texas and New Mexico. Xcel Energy's earnings for the 12 months ended Sept. 30, 2000, including the impact of special charges and extraordinary items, were $1.58 per share. This release includes forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are subject to certain risks, uncertainties and assumptions. Such forward-looking statements are intended to be identified in this document by the words "anticipate," "estimate," "expect," "objective," "outlook," "possible," "potential" and similar expressions. Actual results may vary materially. Factors that could cause actual results to differ materially include, but are not limited to: general economic conditions, including their impact on capital expenditures; business conditions in the energy industry; competitive factors; unusual weather; changes in federal or state legislation; regulation; currency translation and transaction adjustments; the higher degree of risk associated with Xcel Energy's nonregulated businesses compared with Xcel Energy's regulated business; and the other risk factors listed from time to time by Xcel Energy in reports filed with the Securities and Exchange Commission (SEC), including Exhibit 99.04 to Xcel Energy's report on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. filed Aug. 21, 2000. Xcel Energy will host an earnings conference call beginning at 1:30 Central time on Oct. 25. The conference call will be broadcast on our Web site at the following location: http://www.xcelenergy.com, then click on: Investor Information. In addition the call can be accessed live at 1-800-230-1092. The call will be available in a replay mode from 5:00 p.m. on Oct. 25 through 11:59 p.m. on Oct. 30, Central Time. Replay numbers: U.S. Dial-In: 800-475-6701 International Dial-In: 320-365-3844 Access Code: 542596 For more information, contact: E J McIntyre McIntyre, or MacIntyre, is a Scottish surname derived from the Gaelic Mac an t-Saoir literally meaning "Son of the Carpenter". McIntyre is the name of several places:
The process by which the corporation communicates with its investors. 612/215-4559 M D Pritchard Pritchard can refer to:
For news media inquiries only, please call Xcel Energy media relations at 612/215-5300. Xcel Energy Internet Address There are two kinds of addresses that are widely used on the Internet. One is a person's e-mail address, and the other is the address of a Web site, which is known as a URL. Following is an explanation of Internet e-mail addresses only. For more on URLs, see URL and Internet domain name. : http://www.xcelenergy.com This information is not given in connection with any sale or offer for sale or offer to buy any security.
XCEL ENERGY INC.
UNAUDITED EARNINGS RELEASE SUMMARY
All dollars in thousands, except earnings per share
3 months ended Sept. 30 2000 1999
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Operating revenue $2,562,487 $1,816,928
Net income $92,614 $209,264
Earnings available for common $91,554 $208,204
Average shares - common and
potentially dilutive 338,876 332,591
Earnings per share - diluted:
-----------------------------
Earnings before special charges
& extraordinary item $0.72 $0.63
Special charges ($0.43) $0.00
Extraordinary item ($0.02) $0.00
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Total Earnings Per Share $0.27 $0.63
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9 months ended Sept. 30 2000 1999
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Operating revenue $6,606,253 $5,043,773
Net income $389,027 $423,244
Earnings available for common $385,846 $419,013
Average shares - common and
potentially dilutive 337,450 331,505
Earnings per share - diluted:
-----------------------------
Earnings before special charges
& extraordinary item $1.57 $1.26
Special charges ($0.43) $0.00
Extraordinary item ($0.06) $0.00
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Total Earnings Per Share $1.14 $1.26
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12 months ended Sept. 30 2000 1999
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Operating revenue $8,530,981 $6,776,437
Net income $535,288 $620,590
Earnings available for common $532,107 $615,290
Average shares - common and
potentially dilutive 336,508 330,634
Earnings per share - diluted:
-----------------------------
Earnings before special charges
& extraordinary item $2.13 $1.86
Special charges ($0.49) $0.00
Extraordinary item ($0.06) $0.00
----- -----
Total Earnings Per Share $1.58 $1.86
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