SOUTH JERSEY INDUSTRIES INC - FORM 8-K - EX-99 - EXHIBIT 99 - MEDIA FINANCIALS - August 4, 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
 
 
June 30,
 
 
2016
 
2,015
Operating Revenues:
 
 
 
Utility
 $ 68,273

 
$
75,294

Nonutility
          86,129

 
102,416

 
 
 
 
Total Operating Revenues
        154,402

 
177,710

 
 
 
 
Operating Expenses:
 
 
 
Cost of Sales - (Excluding depreciation)
 
 
 
       - Utility
          19,508

 
24,901

       - Nonutility
          78,832

 
66,044

Operations
          36,250

 
33,802

Maintenance
           4,259

 
3,928

Depreciation
          22,296

 
17,430

Energy and Other Taxes
           1,243

 
1,265

 
 
 
 
Total Operating Expenses
        162,388

 
147,370

 
 
 
 
Operating (Loss) Income
(7,986)

 
30,340

 
 
 
 
Other Income and Expense
           4,361

 
3,040

Interest Charges
          (8,229)

 
(7,474
)
 
 
 
 
(Loss) Income Before Income Taxes
        (11,854)

 
25,906

 
 
 
 
Income Taxes
           7,189

 
3,279

Losses in Earnings of Affiliated Companies
             (133)

 
(15,844
)
 
 
 
 
(Loss) Income from Continuing Operations
          (4,798)

 
13,341

 
 
 
 
Loss from Discontinued Operations - (Net of tax benefit)
             (29)

 
(74
)
 
 
 
 




Net (Loss) Income
 $ (4,827)

 
$
13,267

 
 
 
 
 
Basic Earnings per Common Share:
 
 
 
 
 
 
 
 
Continuing Operations
 $ (0.06)

 
$
0.19

Discontinued Operations
—

 
—

 
 
 
 
 
Basic Earnings per Common Share
 $ (0.06)

 
$
0.19

 
 
 
 
 
Average Shares of Common Stock Outstanding - Basic
          75,298

 
68,467

 
 
 
 
 
Diluted Earnings per Common Share:
 
 
 
 
 
 
 
 
Continuing Operations
 $ (0.06)

 
$
0.19

Discontinued Operations
—

 
—

 
 
 
 
 
Diluted Earnings per Common Share
 $ (0.06)

 
$
0.19

 
 
 
 
 
Average Shares of Common Stock Outstanding - Diluted
          75,298

 
68,653

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended
 
 
June 30,
 
 
2016
 
2,015
Operating Revenues:
 
 
 
Utility
 $ 251,942

 
$
341,824

Nonutility
        235,495

 
218,838

 
 
 
 
Total Operating Revenues
        487,437

 
560,662

 
 
 
 
Operating Expenses:
 
 
 
Cost of Sales - (Excluding depreciation)
 
 
 
       - Utility
          84,714

 
169,875

       - Nonutility
        166,601

 
162,777

Operations
          75,047

 
75,663

Maintenance
           8,643

 
7,926

Depreciation
          42,997

 
34,249

Energy and Other Taxes
           3,168

 
3,461

 
 
 
 
Total Operating Expenses
        381,170

 
453,951

 
 
 
 
Operating Income
106,267

 
106,711

 
 
 
 




Other Income and Expense
           6,564

 
5,281

Interest Charges
          (17,389)

 
(16,075
)
 
 
 
 
Income Before Income Taxes
      95,442

 
95,917

 
 
 
 
Income Taxes
        (32,078)

 
(13,334
)
Equity in Earnings (Losses) of Affiliated Companies
                25

 
(15,389
)
 
 
 
 
Income from Continuing Operations
          63,389

 
67,194

 
 
 
 
Loss from Discontinued Operations - (Net of tax benefit)
             (147)

 
(350
)
 
 
 
 
Net Income
 $ (63,242)

 
$
66,844

 
 
 
 
 
Basic Earnings per Common Share:
 
 
 
 
 
 
 
 
Continuing Operations
 $ 0.86

 
$
0.98

Discontinued Operations
—

 
—

 
 
 
 
 
Basic Earnings per Common Share
 $ 0.86

 
$
0.98

 
 
 
 
 
Average Shares of Common Stock Outstanding - Basic
          73,213

 
68,432

 
 
 
 
 
Diluted Earnings per Common Share:
 
 
 
 
 
 
 
 
Continuing Operations
 $ 0.86

 
$
0.98

Discontinued Operations
—

 
—

 
 
 
 
 
Diluted Earnings per Common Share
 $ 0.86

 
$
0.98

 
 
 
 
 
Average Shares of Common Stock Outstanding - Diluted
          73,506

 
68,636

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





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