SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 29, 1998
LACLEDE GAS COMPANY
______________________________________________________________________________
(Exact name of registrant as specified in its charter)
Missouri 1-1822 43-0368139
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
720 Olive Street St. Louis, Missouri 63101
_____________________________________________________________________________
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (314) 342-0500
_______________
NONE
_____________________________________________________________________________
(Former name or former address, if changed since last report)
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Item 5. Other Events.
On October 29, 1998 the Company issued its news release announcing its
financial results as of September 30, 1998. The news release is attached as
Exhibit 1.
Item 7. Exhibits.
See the Index to Exhibits.
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SIGNATURE
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 hereunto duly authorized.
LACLEDE GAS COMPANY
(Registrant)
By: Gerald T. McNeive, Jr.
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Gerald T. McNeive, Jr.
Senior Vice President-
Finance and General Counsel
October 29, 1998
(Date)
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Index to Exhibits
Exhibit No.
___________
1 Laclede Gas Company news release dated October 29, 1998.
Contact: Richard N. Hargraves
(314) 342-0652
FOR IMMEDIATE RELEASE
October 29, 1998
Laclede Gas Company today released the attached, unaudited Statement of
Consolidated Income for fiscal year 1998 -- the twelve-month period ending
September 30, 1998.
Earnings for fiscal 1998 were $1.58 per share compared with $1.84 per
share in fiscal 1997. The 1998 earnings, while lower than 1997 results for
reasons detailed below, were higher than earlier expectations. The better-
than-anticipated results are largely due to the positive impact of the
Company's general rate case, which was recently settled.
The $.26 per-share decrease in earnings from last year was principally
attributable to reduced system sales volumes resulting from weather that was
11% warmer this year than last, and the attendant lower consumption by
customers. Expense reductions came from regulatory accounting changes
instituted July 1, 1998, as part of the settlement of the Company's rate case,
and efforts during the year to control costs.
Laclede's Annual Report to Share Owners for fiscal 1998 will be mailed to
share owners and employees around the middle of December.
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UNAUDITED
STATEMENTS OF CONSOLIDATED INCOME
Laclede Gas Company
and Subsidiary Companies
(In Thousands, Except Per Share Amounts)
<CAPTION>
Three Months Ended Twelve Months Ended
September 30, September 30,
1998 1997 1998 1997
---- ---- ---- ----
<S> <C> <C> <C> <C>
Utility Operating Revenues $56,543 $60,745 $547,229 $602,832
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Utility Operating Expenses:
Natural and propane gas 20,883 23,412 311,759 353,810
Other operation expenses 20,130 25,248 86,129 90,712
Maintenance 4,574 4,573 18,665 18,205
Depreciation and amortization 5,266 6,509 25,304 25,884
Taxes, other than income taxes 6,630 6,867 43,773 46,534
Income taxes (2,545) (4,139) 14,933 17,962
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Total Utility Operating Expenses 54,938 62,470 500,563 553,107
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Utility Operating Income 1,605 (1,725) 46,666 49,725
Miscellaneous Income and Income
Deductions - Net 346 371 2,496 1,829
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Income Before Interest Charges 1,951 (1,354) 49,162 51,554
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Interest Charges:
Interest on long-term debt 3,347 3,542 14,797 14,169
Other interest charges 1,809 1,062 6,473 4,919
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Total Interest Charges 5,156 4,604 21,270 19,088
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Net Income (3,205) (5,958) 27,892 32,466
Dividends on Preferred Stock 24 24 97 97
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Earnings Applicable to Common Stock $(3,229) $(5,982) $ 27,795 $ 32,369
=================== ===================
Average Number of Common
Shares Outstanding 17,628 17,558 17,598 17,558
Earnings Per Share of Common Stock $(.18) $(.34) $1.58 $1.84
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