SOUTH JERSEY INDUSTRIES INC - FORM 8-K - EX-99 - EXHIBIT 99 - Q1 2016 MEDIA FINANCIALS - May 6, 2016

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SOURCE: STEPHEN H. CLARK
609-561-9000
 
                          MARISSA TRAVALINE
 
 
COMPANY NAME: SOUTH JERSEY INDUSTRIES, INC.
 
 
MARKET: N
 
 
STOCK SYMBOL: SJI
 
 
 
 
 
 
 
 
SOUTH JERSEY INDUSTRIES, INC. AND SUBSIDIARIES
 
 
COMPARATIVE EARNINGS STATEMENTS
 
 
(In Thousands Except for Per Share Data)
 
 
UNAUDITED
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
 
March 31,
 
 
2016
 
2,015
Operating Revenues:
 
 
 
Utility
 $ 183,669

 
$
266,530

Nonutility
        149,366

 
116,422

 
 
 
 
Total Operating Revenues
        333,035

 
382,952

 
 
 
 
Operating Expenses:
 
 
 
Cost of Sales - (Excluding depreciation)
 
 
 
       - Utility
          65,206

 
144,974

       - Nonutility
          87,769

 
96,733

Operations
          38,797

 
41,861

Maintenance
           4,384

 
3,998

Depreciation
          20,701

 
16,819

Energy and Other Taxes
           1,925

 
2,196

 
 
 
 
Total Operating Expenses
        218,782

 
306,581

 
 
 
 
Operating Income
        114,253

 
76,371

 
 
 
 
Other Income and Expense
           2,203

 
2,241

Interest Charges
          (9,160)

 
(8,601
)
 
 
 
 
Income Before Income Taxes
        107,296

 
70,011

 
 
 
 
Income Taxes
        (39,267)

 
(16,613
)
Equity in Earnings of Affiliated Companies
              158

 
455

 
 
 
 
Income from Continuing Operations
          68,187

 
53,853

 
 
 
 
Loss from Discontinued Operations - (Net of tax benefit)
             (118)

 
(276
)
 
 
 
 




Net Income
 $ 68,069

 
$
53,577

 
 
 
 
 
Basic Earnings per Common Share:
 
 
 
 
 
 
 
 
Continuing Operations
 $ 0.96

 
$
0.79

Discontinued Operations
—

 
—

 
 
 
 
 
Basic Earnings per Common Share
 $ 0.96

 
$
0.79

 
 
 
 
 
Average Shares of Common Stock - Basic
          71,127

 
68,397

 
 
 
 
 
Diluted Earnings per Common Share:
 
 
 
 
 
 
 
 
Continuing Operations
 $ 0.95

 
$
0.79

Discontinued Operations
—

 
—

 
 
 
 
 
Diluted Earnings per Common Share
 $ 0.95

 
$
0.79

 
 
 
 
 
Average Shares of Common Stock Outstanding - Diluted
          71,416

 
68,618

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





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