Semco Energy reported net income of $12.0 million or $0.67 pershare for the first quarter of the year a 12% increase from the$0.60 per share on net income of $10.4 million for the firstquarter of 1999. “We are off to a good start in meeting our goalsfor the year, despite the third year in a row of warmer than normalweather,” said CEO William L. Johnson. “Had temperatures for theperiod been normal, we would have reported record first quarterearnings of approximately $0.82 per share in 2000 compared toweather-normalized earnings of $0.63 per share in 1999.” Theincrease in earnings was attributable primarily to higher earningsfrom gas distribution, offset partially by seasonal losses from itsconstruction business. Volumes of gas sold and transportedincreased from 25.2 Bcf in the first quarter of 1999 to 39.3 Bcf inthe first quarter of 2000. The increase is attributed primarily tothe operations of the recent acquisition in Alaska offset partiallyby the impact of warmer weather. Temperatures for the first quarterof 2000 were 11% warmer than normal and also warmer than the firstquarter of 1999 when temperatures were 2% warmer than normal.

Chicago-based Nicor Inc. reported first quarter 2000 dilutedearnings per common share of $0.83 on net income of $38.8 million.This compares to $0.82 per share on net income of $39 million in1999. Operating income was $70.2 million compared with $65.4million a year ago. Improvements in gas distribution and shippingoperating results were offset by reductions in nonoperatingcontributions. Per share results for the period were favorablyaffected by the company’s common stock repurchase program. Gasdistribution operating income increased to $65 million from $61.6million a year ago. The increase in operating income reflects thepositive effect of customer additions and contributions from theperformance-based rate plan on gas supply costs. Although weatherwas 10% warmer than last year, its adverse effect on operatingresults was partially mitigated by the company’s weather insurance,which protects earnings to the extent that weather is more than6.5% warmer than normal. “On an operating basis, our primarybusinesses showed improved results in the first quarter 2000compared to the same period last year,” said Thomas L. Fisher,chairman, president and chief executive officer. “We believe thistrend will continue for the remainder of the year and expectsignificant earnings per share growth for the full year.”

Seattle-based Cascade Natural Gas reported a 24% improvement insecond quarter earnings per share over second quarter 1999 results.Net earnings available to common shareholders for the quarter endedMarch 31 were $9,866,000, or $0.89 per share, compared to$7,900,000, or $0.72 per share for the second quarter of fiscal1999. The primary reason for the 24% growth in earnings was a $3.3million increase in operating margin for the most recent quarter.Major contributors were operating margin from residential andcommercial customers was up $2.2 million with $940,000 due to theaddition of 7,900 new customers since March 31, 1999, and $1.3million resulting from increased per customer consumption, whichcan be attributed, in large part, to weather that was about 7%colder this year vs. last year. Temperatures for the most recentquarter were essentially equal to the long term average or normal.Operating margin from industrial customers was higher by $1 millionwith half the increase contributed by electric generationcustomers, $174,000 from new customers, and the remainder fromhigher deliveries to other industry categories. Cascade providesgas service to more than 187,000 customers in the states ofWashington and Oregon.

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