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): January 28, 1999
LACLEDE GAS COMPANY
______________________________________________________________________________
(Exact name of registrant as specified in its charter)
Missouri 1-1822 43-0368139
______________________________________________________________________________
(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 January 28, 1999 the Company issued its news release announcing its
financial results as of December 31, 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.
Gerald T. McNeive, Jr.
Senior Vice President-
Finance and General
Counsel
January 28, 1999
(Date)
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Index to Exhibits
Exhibit No.
___________
1 Laclede Gas Company news release dated
January 28, 1999.
NEWS RELEASE
LACLEDE GAS
Contact: Richard N. Hargraves
(314) 342-0652
FOR IMMEDIATE RELEASE
January 28, 1999
Laclede Gas Company today released the attached Statement of Consolidated
Income for the twelve months ended December 31, 1998, which includes the first
quarter of the Company's Fiscal 1999.
Weather has a significant impact on the use of heating energy, the sale
of which is Laclede's primary business. Not only did warmer-than-normal
temperatures adversely impact Laclede's earnings during the first quarter of
this winter, but colder-than-normal temperatures last year magnify a period-to-
period comparison. During the quarter ended December 31, 1998, a period when
temperatures in Laclede's service area were 14% warmer than normal and 20%
warmer than last year, earnings were $.55 per share, compared with $.78 per
share during the same period last year.
Earnings for the twelve-month period encompassing calendar 1998 -- which
has been called the warmest year in recorded global history and was 18% warmer
than calendar 1997, and which included warmer-than-normal quarters from both
last winter and this one -- were $1.36 per share, compared with $1.70 per share
in calendar 1997. The decrease is largely due to weather-related lower gas
sales and customer consumption, partially offset by lower operating and
depreciation expenses.
Revenues for calendar 1998 were $497.3 million, compared with $608.6
million in calendar 1997. This decrease reflects not only the previously
mentioned lower sales levels but also significantly lower wholesale gas costs,
which are passed on to Laclede's customers.
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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
December 30, December 30,
1998 1997 1998 1997
---- ---- ---- ----
<S> <C> <C> <C> <C>
Utility Operating Revenues $149,696 $199,667 $497,258 $608,634
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Utility Operating Expenses:
Natural and propane gas 86,648 126,309 272,098 359,871
Other operation expenses 23,649 22,659 87,119 92,082
Maintenance 5,057 4,942 18,780 18,640
Depreciation and amortization 5,285 6,601 23,988 26,016
Taxes, other than income taxes 10,517 12,742 41,548 47,860
Income taxes 5,064 8,153 11,844 16,722
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Total Utility Operating Expenses 136,220 181,406 455,377 561,191
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Utility Operating Income 13,476 18,261 41,881 47,443
Miscellaneous Income and Income
Deductions - Net 1,535 867 3,164 2,165
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Income Before Interest Charges 15,011 19,128 45,045 49,608
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Interest Charges:
Interest on long-term debt 3,347 3,853 14,291 14,480
Other interest charges 1,957 1,642 6,788 5,135
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Total Interest Charges 5,304 5,495 21,079 19,615
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Net Income 9,707 13,633 23,966 29,993
Dividends on Preferred Stock 24 24 97 97
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Earnings Applicable to Common Stock $ 9,683 $13,609 $ 23,869 $ 29,896
================== ===================
Average Number of Common
Shares Outstanding 17,628 17,558 17,615 17,558
Earnings Per Share of Common Stock $.55 $.78 $1.36 $1.70
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