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El Paso Electric Announces Fourth Quarter and Annual Financial Results



February 24, 2014

El Paso Electric Company (NYSE: EE):

Overview

  • For the fourth quarter of 2013, El Paso Electric Company ("EE") or (the "Company") reported net income of $1.2 million, or $0.03 basic and diluted earnings per share, respectively. In the fourth quarter of 2012, EE reported net income of $4.8 million, or $0.12 basic and diluted earnings per share.
  • For the twelve months ended December 31, 2013, EE reported net income of $88.6 million, or $2.20 basic and diluted earnings per share. Net income for the twelve months ended December 31, 2012 was $90.8 million, or $2.27 and $2.26 basic and diluted earnings per share, respectively.

'As we have for many years, we continue to experience an increase in the number of customers served. Due to less favorable weather during our summer cooling season and lower revenues from governmental customers, however, we experienced a decline in non-fuel base revenues during both the fourth quarter of 2013 and the twelve months ended December 31, 2013, as compared to the corresponding periods in the prior year,' said Tom Shockley, Chief Executive Officer. 'Additionally, our revenues for the twelve months ended December 31, 2013 reflect a carryover impact of the reduction in non-fuel base rates for our Texas customers which became effective May 1, 2012. We are fortunate to be part of a vibrant and growing community and we look forward to continuing to meet the region's expanding energy needs with clean and reliable technology.' 

Click here to read the full press release.

For more information :

Organization:
El Paso Electric
Address:
100 N Stanton
El Paso, Texas
United States, 79960
www.epelectric.com

Contact person:

Eddie Gutierrez
El Paso Electric (EPE)
Tel: 915-497-3495
E-mail: eduardo.gutierrez@epelectric.com

Contact person:

Steve Busser, Investor Relations
El Paso Electric
Tel: 915-543-5983
E-mail: steve.busser@epelectric.com

Contact person:

Lisa Budtke
El Paso Electric
Tel: 915-543-5947
E-mail: lisa.budtke@epelectric.com


Link http://www.electricenergyonline.com/detail_news.php?ID=471547
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