UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 10-Q/A
(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE QUARTERLY PERIOD ENDED JUNE 30, 1998
or
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE TRANSITION PERIOD FROM _______ TO _______
COMMISSION FILE NUMBER 1-3551
EQUITABLE RESOURCES, INC.
(Exact name of registrant as specified in its charter)
PENNSYLVANIA 25-0464690
(State of incorporation or organization) (IRS Employer Identification No.)
420 Boulevard of the Allies, Pittsburgh, Pennsylvania 15219
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code: (412) 261-3000
------------
NONE
(Former name, former address and former fiscal year,
if changed since last report)
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Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes X No
Indicate the number of shares outstanding of each of issuer's classes of common
stock, as of the close of the period covered by this report.
Outstanding at
Class June 30, 1998
Common stock, no par value 37,100,000 shares
<PAGE>
This report is an amendment to the Equitable Resources, Inc.
("Company") quarterly report on Form 10-Q for the quarter ended June 30, 1998.
The report is being amended to refile the Statements of Consolidated Income
(Unaudited) which has been modified to place brackets around the Earnings (Loss)
Per Share of Common Stock - Net Income for the Three Months Ended June 30, 1997.
While the detail components of Earnings (Loss) Per Share, Continuing
Operations and Discontinued Operations were bracketed, the brackets surrounding
the total were inadvertently omitted.
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Report to be signed on its behalf by the
undersigned, thereunto duly authorized:
EQUITABLE RESOURCES, INC.
(Registrant)
/s/ David L. Porges
------------------------------
David L. Porges
Senior Vice President
and Chief Financial Officer
Date: September 4, 1998
<PAGE>
EQUITABLE RESOURCES, INC. AND SUBSIDIARIES
Statements of Consolidated Income (Unaudited)
(Thousands Except Per Share Amounts)
<PAGE>
<TABLE>
<CAPTION>
Three Months Ended Six Months Ended
June 30, June 30,
1998 1997 1998 1997
----------------------------- -----------------------------
Restated Restated
<S> <C> <C> <C> <C>
Operating revenues $ 182,097 $ 177,896 $ 475,329 $ 482,052
Cost of energy purchased 94,430 82,288 255,834 249,872
----------- ----------- ----------- -----------
Net operating revenues 87,667 95,608 219,495 232,180
----------- ----------- ----------- -----------
Operating expenses:
Operation 43,464 54,067 89,888 103,635
Maintenance 6,566 7,915 11,810 14,587
Depreciation, depletion and amortization 19,764 17,302 39,416 34,279
Taxes other than income 4,508 7,818 16,174 21,836
Impairment of assets - 13,000 - 13,000
----------- ----------- ----------- -----------
Total operating expenses 74,302 100,102 157,288 187,337
----------- ----------- ----------- -----------
13,365 (4,494) 62,207 44,843
Other income 374 530 298 687
Interest charges 10,262 9,219 20,852 18,942
----------- ----------- ----------- -----------
Income (loss) before income taxes 3,477 (13,183) 41,653 26,588
Income taxes (benefits) 1,203 (5,452) 14,727 9,081
----------- ----------- ----------- -----------
Net income (loss) from continuing operations 2,274 (7,731) 26,926 17,507
Income (loss) from discontinued operations after taxes - (1,532) (4,604) 1,020
----------- ----------- ----------- -----------
Net income (loss) $ 2,274 $ (9,263) $ 22,322 $ 18,527
=========== =========== =========== ===========
Average common shares outstanding 37,050 35,289 36,953 35,355
=========== =========== =========== ===========
Earnings (loss) per share of common stock - basic/diluted:
Continuing operations $ 0.06 $ (0.22) $ 0.72 $ 0.49
Discontinued operations - (0.04) (0.12) 0.03
----------- ----------- ----------- -----------
Net income $ 0.06 $ (0.26) $ 0.60 $ 0.52
=========== =========== =========== ===========
Dividends per share of common stock $ - $ - $ 0.59 $ 0.59
=========== =========== =========== ===========
<FN>
The accompanying notes are an integral part of these condensed
consolidated financial statements.
</FN>
</TABLE>
