File No. 69-418
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM U-3A-2
Statement by Holding Company Claiming Exemption Under Rule U-3A-2 from
the Provisions of the Public Utility Holding Company Act of 1935
To Be Filed Annually Prior to March 1
ENERGY CORPORATION OF AMERICA
- --------------------------------------------------------------------------------
(Name of Company)
hereby files with the Securities and Exchange Commission, pursuant to Rule 2,
its statement claiming exemption as a holding company from the provisions of the
Public Utility Holding Company Act of 1935, and submits the following
information:
1. Name, State of organization, location and nature of business of
claimant and every subsidiary thereof, other than any exempt wholesale generator
("EWG") or foreign utility company in which claimant directly or indirectly
holds an interest.
Claimant:
---------
Energy Corporation of America
4643 South Ulster Street, Suite 1100
Denver, Colorado 80237
The Claimant is a privately held West Virginia corporation
engaged in operating a natural gas distribution system in the
Mid-Atlantic area and oil and gas operations in the Rocky Mountain and
Appalachian Basins. The Claimant also is engaged in the exploration of
oil and natural gas in other parts of the United States and New
Zealand. The common stockholders of Claimant are as follows: John Mork
and Julie Mork (as joint tenants with right of survivorship), Julie
Mork, F. H. McCullough, III and Kathy L. McCullough (as joint tenants
with right of survivorship), J. Michael Forbes (Trustee for
<PAGE>
Alison P. Mork), J. Michael Forbes (Trustee for Kyle M. Mork), A.
C. Nielsen, Jr., L. B. Curtis and Rose A. Curtis (Co-Trustees of the
Curtis Family Revocable Trust), K. W. Brill, Joseph E. Casabona,
Thomas R. Goodwin, H. Laban White, Richard E. Heffelfinger, J. Michael
Forbes, Donald C. Supcoe, Pamela Gates, J. J. Dorgan, ECA Foundation,
Peter H. Coors, Gaston Caperton, David L. Curtis, Jennifer Swanson,
Leslie McCullough Trust, Meredith McCullough Trust, Kristin McCullough
Trust and Katherine F. McCullough Trust. The Claimant also has
nonvoting Class A Stock that has been issued to employees of the
Claimant and its subsidiaries and to common stockholders.
Subsidiaries of the Claimant:
-----------------------------
A. Eastern Systems Corporation
414 Summers Street
Charleston, West Virginia 25301
Eastern Systems Corporation ("ESC") is a West Virginia
corporation, wholly owned by Claimant. It is the holding company for
Mountaineer Gas Company.
i. Mountaineer Gas Company
414 Summers Street
Charleston, West Virginia 25301
Mountaineer Gas Company ("Mountaineer") is a West Virginia
corporation, wholly owned by ESC, engaged in the distribution of
natural gas in the State of West Virginia through a 3,900 mile
distribution system, principally in Charleston, Beckley,
Huntington and Wheeling, West Virginia. Mountaineer is a public
gas utility.
1. Mountaineer Gas Services, Inc.
414 Summers Street
Charleston, West Virginia 25301
Mountaineer Gas Services, Inc. is a West Virginia
corporation, wholly owned by Mountaineer, engaged primarily
in producing and marketing natural gas to Mountaineer.
2
<PAGE>
2. Mapcom Systems, Inc.
7345 Whitepine Road
Richmond, Virginia 23237
Mapcom Systems, Inc. is a Virginia corporation, wholly
owned by Mountaineer, engaged in automated mapping
facilities management and geographic information systems
software development and services.
B. Eastern American Energy Corporation
501 56th Street
Charleston, West Virginia 25304
Eastern American Energy Corporation ("Eastern American") is
a West Virginia corporation, wholly owned by Claimant, primarily
engaged in the exploration, development, production,
transportation and marketing of natural gas primarily within the
Appalachian Basin states of West Virginia and Pennsylvania.
Eastern American also has properties in Virginia, Ohio and New
York.
i. Natural Gas Transportation Company
501 56th Street
Charleston, West Virginia 25304
Natural Gas Transportation Company ("NGT") is a West
Virginia corporation, wholly owned by Eastern American. NGT
builds compressed natural gas stations and provides
compressed natural gas as an alternative motor vehicle fuel.
ii. Eastern Marketing Corporation
501 56th Street
Charleston, West Virginia 25304
Eastern Marketing Corporation is a West Virginia
corporation, wholly owned by Eastern American. Eastern
Marketing Corporation markets the majority of Eastern
American's natural gas. Eastern Marketing Corporation also
buys, sells and markets gas from other third party
producers, marketers and end users through the United
States.
3
<PAGE>
iii. Eastern Capital Corporation
501 56th Street
Charleston, West Virginia 25304
Eastern Capital Corporation is a West Virginia
corporation, wholly owned by Eastern American, which was
incorporated in 1992 for the purpose of encouraging and
assisting in the creation, development and expansion of West
Virginia business by making available venture capital.
iv. Eastern Pipeline Corporation
501 56th Street
Charleston, West Virginia 25304
Eastern Pipeline Corporation is a West Virginia
corporation, wholly owned by Eastern American, which owns
two gathering systems in West Virginia. The largest of these
systems is the Eastern Pipeline System which consists of
approximately seventy-five (75) miles of eight (8) inch
pipeline and three hundred (300) miles of gathering system.
v. Eastern Exploration Corporation
501 56th Street
Charleston, West Virginia 25304
Eastern Exploration Corporation is a West Virginia
corporation, wholly owned by Eastern American, which was
incorporated primarily as a non-recourse-financing vehicle
for its annual drilling programs. The majority of the assets
of Eastern Exploration Corporation have been conveyed to
Eastern American; however, Eastern Exploration Corporation
still owns an interest in approximately forty-six (46) wells
in the state of West Virginia.
vi. Allegheny & Western Energy Corporation
501 56th Street
Charleston, West Virginia 25304
Allegheny & Western Energy Corporation ("Allegheny") is
a West Virginia corporation, wholly owned by Eastern
American, primarily engaged in the operation and management
of oil and gas producing properties located in the
Appalachian Basin state of West Virginia. Allegheny owns
interests in these properties either directly or through
joint ventures or partnerships with third parties.
4
<PAGE>
1. Gas Access Systems, Inc.
501 56th Street
Charleston, West Virginia 25304
Gas Access Systems, Inc. is a West Virginia
corporation, wholly owned by Allegheny, engaged in the
marketing of natural gas directly to end-users
primarily in the State of West Virginia.
C. Westech Energy Corporation
4643 South Ulster Street Suite 1190
Denver, Colorado 80237
Westech Energy Corporation, a Colorado corporation, wholly
owned by Claimant, is an oil and gas exploration and development
company.
D. Westech Energy New Zealand Limited
4643 South Ulster Street Suite 1190
Denver, Colorado 80237
Westech Energy New Zealand Limited ("WENZL") was
incorporated in June, 1995 under the laws of New Zealand under
the name of Energy Corporation of New Zealand Limited and is
wholly owned by the Claimant. Energy Corporation of New Zealand
Limited changed its name to Westech Energy New Zealand Limited on
February 19, 1996. WENZL holds a 50 percent interest in one
petroleum prospecting license and four petroleum exploration
permits covering acreage located in the North Island, New
Zealand.
E. Westside Acquisition Corporation
4643 South Ulster Street Suite 1100
Denver, Colorado 80237
Westside Acquisition Corporation is a Colorado corporation,
wholly owned by Claimant, whose primary asset was an interest in
a limited liability corporation that has certain oil producing
properties (located in Los Angeles County, California) that has
subsequently been transferred to Western Energy Corporation.
5
<PAGE>
2. A brief description of the properties of claimant and each of its
subsidiary public utility companies used for the generation, transmission, and
distribution of electric energy for sale, or for the production, transmission,
and distribution of natural or manufactured gas, indicating the location of
principal generating plants, transmission lines, producing fields, gas
manufacturing plants, and electric and gas distribution facilities, including
all such properties which are outside the state in which claimant and its
subsidiaries are organized and all transmission or pipelines which deliver or
receive electric energy or gas at the borders of such state.
Oil and gas producing facilities at Mountaineer Gas
Services, Inc. are located in Kanawha, Cabell and Jackson
Counties, West Virginia. These facilities include wellhead
equipment, gas gathering lines and associated equipment and
compression equipment.
The gas distribution facilities of Mountaineer cover the
main population centers of the state of West Virginia and
includes pipelines, regulators, meters and other equipment needed
for distribution. Gas purchased from suppliers is received from
interstate pipelines, including Columbia Gas Transmission
Corporation and Tennessee Gas Pipeline, and other sources at
points within the State of West Virginia. Suppliers for the last
calendar year include Engage Energy, L.P., Equitable Resources
Marketing Company, Texaco Gas Marketing, Noble Gas Marketing,
Valero Gas Marketing, Eastern Marketing Corporation, Eastern
American and Coral Energy, L.P.
3. The following information for the last calendar year with respect to
claimant and each of its subsidiary public utility companies:
(a) Number of kwh and related revenues of electric energy sold (at
retail or wholesale), and Mcf. and related revenues of natural and
manufactured gas distributed at retail.
21,364,033 Mcf $141,857,740
(b) Number of kwh of electric energy and Mcf. of natural or
manufactured gas distributed at retail outside the State in which each such
company is organized.
None
6
<PAGE>
(c) Number of kwh of electric energy and Mcf. of natural or
manufactured gas sold at wholesale outside the State in which each such
company is organized, or at the State line.
None
(d) Number of kwh and related cost of electric energy and Mcf. and
related cost of natural or manufactured gas purchased outside the State in
which each such company is organized or at the State line.
17,669,885 Mcf $40,021,953
4. The following information for the reporting period with respect to
claimant and each interest it holds directly or indirectly in an EWG or a
foreign utility company, stating monetary amounts in United States dollars:
(a) Name, location, business address and description of the facilities
used by the EWG or foreign utility company for the generation, transmission
and distribution of electric energy for sale or for the distribution at
retail of natural or manufactured gas.
Not applicable.
(b) Name of each system company that holds an interest in such EWG or
foreign utility company; and description of the interest held.
Not applicable.
(c) Type and amount of capital invested, directly or indirectly, by
the holding company claiming exemption; any direct or indirect guarantee of
the security of the EWG or foreign utility company by the holding company
claiming exemption; and any debt or other financial obligation for which
there is recourse, directly or indirectly, to the holding company claiming
exemption or another system company, other than the EWG or foreign utility
company.
Not applicable.
(d) Capitalization and earnings of the EWG or foreign utility company
during the reporting period.
Not applicable.
7
<PAGE>
(e) Identify any service, sales or construction contract(s) between
the EWG or foreign utility company and a system company, and describe the
services to be rendered or goods sold and fees or revenues under such
agreement(s).
Not applicable.
8
<PAGE>
EXHIBIT A
A consolidating statement of income and surplus of the Claimant and its
subsidiary companies for the last calendar year, together with a consolidating
balance sheet of Claimant and its subsidiary companies as of the close of such
calendar year is attached hereto as Exhibit A.
EXHIBIT B
A Financial Data Schedule is attached hereto as Exhibit B.
EXHIBIT C
Not applicable.
9
<PAGE>
The above-named Claimant has caused this statement to by duly executed on its
behalf by its authorized officer on this 26th day of February, 1999.
ENERGY CORPORATION OF AMERICA
-----------------------------
(Name of claimant)
By: /s/ JOHN MORK
------------------------------------
Name: John Mork
Title: President, Chief Executive Officer
CORPORATE SEAL
Attest:
/s/ DONALD C. SUPCOE
- ------------------------------------
Name: Donald C. Supcoe
Title: Secretary
Name, title and address of officer to whom notices and correspondence concerning
this statement should be addressed:
Isobel Allan
Vice President Finance
Energy Corporation of America
4643 South Ulster Street, Suite 1100
Denver, Colorado 80237
10
<PAGE>
EXHIBIT A
<TABLE>
<CAPTION>
ENERGY CORPORATION OF AMERICA
CONSOLIDATING INCOME STATEMENTS
FOR THE CALENDAR YEAR ENDED DECEMBER 31, 1998
UNAUDITED
ECA EAEC WESTECH WENZL WAC
--- ---- ------- ----- ---
REVENUES:
<S> <C> <C> <C> <C> <C>
Utility gas sales & transportation -- -- -- -- --
Gas marketing & pipeline sales -- $ 109,353,348 -- -- --
Oil & gas sales -- 19,037,203 $ 461,277 -- --
Well operations & service -- 5,983,525 771,635 -- --
Other revenues $ 18,969,023 30,037,801 -- -- --
------------- ------------- ------------- ------------- -------------
Total revenues 18,969,023 164,411,877 1,232,912 -- --
------------- ------------- ------------- ------------- -------------
COSTS AND EXPENSES:
Utility gas purchased -- -- -- -- --
Gas marketing & pipeline cost -- 108,626,076 -- -- --
Field & lease operating -- 7,947,202 234,676 285,541 --
Utility operations & maintenance -- -- -- -- --
General & administrative 3,788,473 5,087,444 1,164,558 100,490 12,608
Taxes other than income 150,208 656,572 27,479 -- 35
Depletion, depr., amortiz.-O&G -- 7,564,356 193,093 -- --
Depletion, depr., amortiz.-other 302,240 2,787,338 68,223 11,123 --
Impairment & exploratory costs -- 2,672,667 4,286,934 2,683,514 --
------------- ------------- ------------- ------------- -------------
Total operating expenses 4,240,921 135,341,655 5,974,963 3,080,668 12,643
------------- ------------- ------------- ------------- -------------
INCOME FROM OPERATIONS 14,728,102 29,070,222 (4,742,051) (3,080,668) (12,643)
OTHER (INCOME) EXPENSE:
Interest 19,875,647 185,032 -- -- --
Gain on sale of property 2,042 1,062,835 (934,074) -- --
Other (income) expense (523,995) 1,073,133 1,080,028 13,574 92,581
------------- ------------- ------------- ------------- -------------
INCOME BEFORE INC TAXES & MIN. INT. (4,625,592) 26,749,222 (4,888,005) (3,094,242) (105,224)
Provision for income taxes (8,360,656) 9,650,715 (2,113,867) -- (301,514)
Minority interest -- -- -- -- --
------------- ------------- ------------- ------------- -------------
NET INCOME (LOSS) $ 3,735,064 $ 17,098,507 $ (2,774,138) $ (3,094,242) $ 196,290
============= ============= ============= ============= =============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ENERGY CORPORATION OF AMERICA
CONSOLIDATING INCOME STATEMENTS
FOR THE CALENDAR YEAR ENDED DECEMBER 31, 1998
UNAUDITED (continued)
ESC TOTAL ELIMS CONSOLIDATED
--- ----- ----- ------------
REVENUES:
- ---------
<S> <C> <C> <C> <C>
Utility gas sales & transportation $ 151,744,270 $ 151,744,270 -- $ 151,744,270
Gas marketing & pipeline sales 9,439,435 118,792,783 -- 118,792,783
Oil & gas sales 3,984,884 23,483,364 -- 23,483,364
Well operations & service -- 6,755,160 -- 6,755,160
Other revenues 1,536,359 50,543,183 $(18,969,023) 31,574,160
------------- ------------- ------------- ------------
Total revenues 166,704,948 351,318,760 (18,969,023) 332,349,737
------------- ------------- ------------- -------------
COSTS AND EXPENSES:
Utility gas purchased 77,421,133 77,421,133 -- 77,421,133
Gas marketing & pipeline cost 8,940,087 117,566,163 -- 117,566,163
Field & lease operating 1,161,129 9,628,548 -- 9,628,548
Utility operations & maintenance 22,474,566 22,474,566 -- 22,474,566
General and administrative 14,615,725 24,769,298 (720,000) 24,049,298
Taxes other than income 13,373,216 14,207,510 -- 14,207,510
Depletion, depr., amortiz.-O&G 460,478 8,217,927 -- 8,217,927
Depletion, depr., amortiz.-other 9,966,312 13,135,236 -- 13,135,236
Impairment & exploratory costs -- 9,643,115 -- 9,643,115
------------- ------------- ------------- -------------
Total operating expenses 148,412,646 297,063,496 (720,000) 296,343,496
------------- ------------- ------------- -------------
INCOME FROM OPERATIONS 18,292,302 54,255,264 (18,249,023) 36,006,241
OTHER (INCOME) EXPENSE:
Interest 6,401,216 26,461,895 -- 26,461,895
Gain on sale of property -- 130,803 -- 130,803
Other (income) expense (111,749) 1,623,572 -- 1,623,572
------------- ------------- ------------- -------------
INCOME BEFORE INC TAXES & MIN. INT. 12,002,835 26,038,994 (18,249,023) 7,789,971
Provision for income taxes 4,961,539 3,836,217 -- 3,836,217
Minority interest -- -- 218,690 218,690
------------- ------------- ------------- -------------
NET INCOME (LOSS) $ 7,041,296 $ 22,202,777 $ (18,467,713) $ 3,735,064
============= ============= ============= =============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ENERGY CORPORATION OF AMERICA
CONSOLIDATING BALANCE SHEETS
AS OF DECEMBER 31, 1998
UNAUDITED
ECA EAEC WESTECH WENZL WAC
--- ---- ------- ----- ---
ASSETS:
<S> <C> <C> <C> <C> <C>
Cash $ 3,174,937 $ 526,955 $ 17,021 $ 653,943 --
Accounts receivable 993,753 12,796,354 1,791,664 421,282 --
Due from affiliates 37,417,729 (2,651,537) (30,868,680) (8,865,552) $ 784,495
Inventory -- 447,023 -- -- --
Income tax receivable (4,574,011) -- 1,521,329 -- --
Deferred income tax (4,056,215) -- 29,816 -- --
Prepaid and other 461,834 792,671 1,686 156,313 --
------------- ------------- ------------- ------------- -------------
Total current assets 33,418,027 11,911,466 (27,507,164) (7,634,014) 784,495
------------- ------------- ------------- ------------- -------------
Oil and gas properties 2,474,000 192,092,367 15,630,066 2,846,663 --
Utility and transmission plant -- -- -- -- --
Other property 3,533,422 18,354,112 382,379 25,518 --
Pipelines -- 19,003,456 -- -- --
------------- ------------- ------------- ------------- -------------
6,007,422 229,449,935 16,012,445 2,872,181 --
Accumulated depreciation (372,013) (86,051,634) (356,051) (18,469) --
------------- ------------- ------------- ------------- -------------
5,635,409 143,398,301 15,656,394 2,853,712 --
------------- ------------- ------------- ------------- -------------
Investment in affiliate 165,222,058 -- -- -- --
Deferred financing costs 6,408,697 -- -- -- --
Notes receivable 1,687,769 1,814,595 1,347,748 -- --
Deferred utility charges -- -- -- -- --
Deferred income taxes (1,054,688) 779,930 -- -- --
Other long-term assets 2,666,780 8,208,437 76,845 2,328 --
------------- ------------- ------------- ------------- -------------
Total other assets 174,930,616 10,802,962 1,424,593 2,328 --
------------- ------------- ------------- ------------- -------------
TOTAL ASSETS $ 213,984,052 $ 166,112,729 $ (10,426,177) $ (4,777,974) $ 784,495
============= ============= ============= ============= =============
LIABILITIES AND EQUITY:
Accounts payable $ 1,963,765 $ 9,692,549 $ 261,388 $ 411,362 --
Current maturities - L/T debt 424,343 160,659 -- -- --
Short-term borrowings -- -- -- -- --
Funds held for future distrib. -- 4,869,646 7,259 -- --
Income taxes payable (9,149,683) 6,190,609 (162,984) -- $ 843,844
Accrued taxes payable -- 4,455,860 5,820 -- --
Overrecovered gas costs -- -- -- -- --
Other current liabilities 3,983,551 -- (4,520) -- --
------------- ------------- ------------- ------------- -------------
Total current liabilities (2,778,024) 25,369,323 106,963 411,362 843,844
------------- ------------- ------------- ------------- -------------
Long-term debt, less current 203,053,891 765,389 -- -- --
Deferred revenue -- 14,987,731 -- -- --
Deferred income taxes (12,869,247) 11,700,906 -- -- 4,846,292
Other long-term liability -- 1,056,832 (2,290,160) -- --
------------- ------------- ------------- ------------- -------------
Total long-term liabilities 190,184,644 28,510,858 (2,290,160) -- 4,846,292
------------- ------------- ------------- ------------- -------------
Total liabilities 187,406,620 53,880,181 (2,183,197) 411,362 5,690,136
Stockholders equity 26,577,432 112,232,548 (8,242,980) (5,189,336) (4,905,641)
------------- ------------- ------------- ------------- -------------
TOTAL LIABILITIES AND EQUITY $ 213,984,052 $ 166,112,729 $ (10,426,177) $ (4,777,974) $ 784,495
============= ============= ============= ============= =============
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ENERGY CORPORATION OF AMERICA
CONSOLIDATING BALANCE SHEETS
AS OF DECEMBER 31, 1998
UNAUDITED (continued)
ESC TOTAL ELIM CONSOLIDATED
ASSETS: --- ----- ---- ------------
<S> <C> <C> <C> <C>
Cash $ 1,152,417 $ 5,525,273 -- $ 5,525,273
Accounts receivable 31,840,399 47,843,452 -- 47,843,452
Due from affiliates 4,183,545 -- -- --
Inventory -- 447,023 -- 447,023
Income tax receivable 4,164,596 1,111,914 -- 1,111,914
Deferred income tax 3,706,895 (319,504) -- (319,504)
Prepaid and other 21,952,070 23,364,574 -- 23,364,574
------------- ------------- ------------- -------------
Total current assets 66,999,922 77,972,732 -- 77,972,732
------------- ------------- ------------- -------------
Oil and gas properties 8,877,461 221,920,557 -- 221,920,557
Utility and transmission plant 177,227,186 177,227,186 -- 177,227,186
Other property 273,441 22,568,872 -- 22,568,872
Pipelines -- 19,003,456 -- 19,003,456
------------- ------------- ------------- -------------
186,378,088 440,720,071 -- 440,720,071
Accumulated depreciation (28,107,048) (114,905,215) -- (114,905,215)
------------- ------------- ------------- -------------
158,271,040 325,814,856 -- 325,814,856
------------- ------------- ------------- -------------
Investment in affiliate -- 165,222,058 (165,222,058) --
Deferred financing costs 2,625,387 9,034,084 -- 9,034,084
Notes receivable 150,000 5,000,112 -- 5,000,112
Deferred utility charges 15,819,099 15,819,099 -- 15,819,099
Deferred income taxes -- (274,758) -- (274,758)
Other long-term assets -- 10,954,390 -- 10,954,390
------------- ------------- ------------- -------------
Total other assets 18,594,486 205,754,985 (165,222,058) 40,532,927
------------- ------------- ------------- -------------
TOTAL ASSETS $ 243,865,448 $ 609,542,573 $(165,222,058) $ 444,320,515
============= ============= ============= =============
LIABILITIES AND EQUITY:
Accounts payable $ 12,484,230 $ 24,813,294 -- $ 24,813,294
Current maturities - L/T debt -- 585,002 -- 585,002
Short-term borrowings 48,576,800 48,576,800 -- 48,576,800
Funds held for future distrib. -- 4,876,905 -- 4,876,905
Income taxes payable -- (2,278,214) -- (2,278,214)
Accrued taxes payable 4,355,382 8,817,062 -- 8,817,062
Overrecovered gas costs 4,999,535 4,999,535 -- 4,999,535
Other current liabilities 7,236,133 11,215,164 -- 11,215,164
------------- ------------- ------------- -------------
Total current liabilities 77,652,080 101,605,548 -- 101,605,548
------------- ------------- ------------- -------------
Long-term debt, less current 60,000,000 263,819,280 -- 263,819,280
Deferred revenue -- 14,987,731 -- 14,987,731
Deferred income taxes 23,215,833 26,893,784 -- 26,893,784
Other long-term liability 11,734,414 10,501,086 -- 10,501,086
------------- ------------- ------------- -------------
Total long-term liabilities 94,950,247 316,201,881 -- 316,201,881
------------- ------------- ------------- -------------
Total liabilities 172,602,327 417,807,429 -- 417,807,429
Stockholders equity 71,263,121 191,735,144 (165,222,058) 26,513,086
------------- ------------- ------------- -------------
TOTAL LIABILITIES AND EQUITY $ 243,865,448 $ 609,542,573 $(165,222,058) $ 444,320,515
============= ============= ============= =============
</TABLE>
<TABLE> <S> <C>
<ARTICLE> OPUR3
<LEGEND>
EXHIBIT B
FINANCIAL DATA SCHEDULE
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> Jan-30-1999
<PERIOD-START> Jan-01-1998
<PERIOD-END> Dec-31-1998
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 444,320,515
<TOTAL-OPERATING-REVENUES> 332,349,737
<NET-INCOME> 3,735,064
</TABLE>
