New book by Larry Connors Click here Improve your trading - See how
Earnings per share for the twelve months ending March 31, 2009 were $4,866,059 or $2.20 per share compared to $1.59 per share for the twelve months ended March 31, 2008. Earnings for the twelve months ended March 31, 2009 were positively impacted by improved margins and the absence of losses associated with the Company's formerly owned Bluefield Gas Company operations.
RGC Resources, Inc. provides energy and related products and services to customers in Virginia through its operating subsidiaries Roanoke Gas Company, Diversified Energy Company and RGC Ventures of Virginia, Inc.
From time to time, the Company may publish forward-looking statements relating to such matters as anticipated financial performance, business prospects, technological developments, new products, research and development activities and similar matters. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause the Company's actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company's forward-looking statements.
Summary financial statements for the second quarter and twelve months are as follows:
RGC Resources, Inc. and Subsidiaries
Condensed Consolidated Statements of Income and Comprehensive Income
(Unaudited)
Three Months Ended Twelve Months Ended
March 31, March 31,
2009 2008 2009 2008
----------------------- -----------------------
Revenues $34,286,502 $39,564,378 $92,077,237 $91,216,830
Cost of sales 24,954,183 30,911,562 64,756,914 65,756,959
----------- ----------- ----------- -----------
Gross margin 9,332,319 8,652,816 27,320,323 25,459,871
Other operating
expenses 4,605,348 4,221,079 17,564,905 17,137,710
Interest expense 462,910 518,029 1,944,801 2,007,110
----------- ----------- ----------- -----------
Income from continuing
operations before
income taxes 4,264,061 3,913,708 7,810,617 6,315,051
Income tax expense
from continuing
operations 1,620,368 1,495,099 2,944,558 2,362,453
----------- ----------- ----------- -----------
Net income from
continuing operations 2,643,693 2,418,609 4,866,059 3,952,598
Net loss from
discontinued
operations, net of
income taxes -- -- -- (476,681)
----------- ----------- ----------- -----------
Net income $ 2,643,693 $ 2,418,609 $ 4,866,059 $ 3,475,917
=========== =========== =========== ===========
Basic earnings per
share of common
stock:
Income from
continuing
operations $ 1.19 $ 1.10 $ 2.20 $ 1.81
Discontinued
operations -- -- -- (0.22)
----------- ----------- ----------- -----------
Net income $ 1.19 $ 1.10 $ 2.20 $ 1.59
=========== =========== =========== ===========
Diluted earnings per
share of common
stock:
Income from
continuing
operations $ 1.19 $ 1.10 $ 2.19 $ 1.80
Discontinued
operations -- -- -- (0.22)
----------- ----------- ----------- -----------
Net income $ 1.19 $ 1.10 $ 2.19 $ 1.58
=========== =========== =========== ===========
Cash dividends per
common share $ 0.3200 $ 0.3125 $ 1.2650 $ 1.2350
=========== =========== =========== ===========
Weighted average
number of common
shares outstanding:
Basic 2,219,068 2,198,624 2,211,594 2,183,930
Diluted 2,226,156 2,208,143 2,220,233 2,194,532
Condensed Consolidated Balance Sheets
(Unaudited)
March 31,
2009 2008
Assets ------------ ------------
Current assets $ 37,284,664 $ 38,213,104
Total property, plant and equipment, net 76,456,297 74,118,513
Other assets 3,976,337 3,474,118
------------ ------------
Total Assets $117,717,298 $115,805,735
============ ============
Liabilities and Stockholders' Equity
Current liabilities $ 23,455,841 $ 30,212,434
Long-term debt 28,000,000 23,000,000
Deferred credits and other liabilities 20,492,567 18,027,180
------------ ------------
Total Liabilities 71,948,408 71,239,614
Stockholders' Equity 45,768,890 44,566,121
------------ ------------
Total Liabilities and Stockholders'
Equity $117,717,298 $115,805,735
============ ============
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: RGC Resources, Inc.
RGC Resources, Inc.
John B. Williamson, III, President, Chairman and CEO
540-777-3810
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.