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UNITED STATES OF AMERICA
BEFORE THE SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
________________________________________
In the Matter of :
:
Entergy Corporation :
Entergy Enterprises, Inc. :
Entergy Systems and Service, Inc. :
formerly Systems and Service U.S.A., Inc. : CERTIFICATE PURSUANT
: TO RULE 24
File No. 70-7947 :
:
(Public Utility Holding Company :
Act of 1935) :
________________________________________
Pursuant to Rule 24 promulgated by the Securities and
Exchange Commission (SEC) under the Public Utility Holding
Company Act of 1935, modified by the application-declaration
referenced above and the related order dated December 28, 1992,
this is to certify that the progress made in the development of
System and Service International, Inc.'s (SASI) energy efficient
technology and manufacturing processes as well as the development
within the "Base Region" (as defined) of such energy efficiency
technology by Entergy Systems and Service, Inc. during the three
months ended March 31, 1995. Unaudited financial statements for
the first quarter of 1995 are also attached.
1) Development of SASI's energy efficient
technologies continues to advance in accordance with
the initial progress schedule. Operational planning
regarding the automation of SASI's production lines
continues. Engineering runs of SASI's newest
technology are being prepared. Additionally, a new
manufacturing facility is being prepared to be
available in adequate time to produce the final
marketable version of the above technologies.
2) Entergy Systems and Service, Inc. has utilized
SASI's current product in energy service applications
in the "Base Region". The following is a summary which
indicates such installations and projected energy
conservation which will result in savings of generating
capacity.
Annual Projected
Number of Savings
Installations kw's kwh's
280 2,330.20 14,615,916.39
IN WITNESS WHEREOF, the undersigned companies have caused
this certificate to be executed this 25th day of April, 1995.
Entergy Corporation
By: /s/ Gerald D. McInvale
Gerald D. McInvale
Senior Vice President and
Chief Financial Officer
Entergy Enterprises, Inc.
By: /s/ Terry L. Ogletree
Terry L. Ogletree
Executive Vice President
Systems and Service U.S.A., Inc.
(now Entergy Systems and Service, Inc.)
By: /s/ Gerald D. McInvale
Gerald D. McInvale
Chairman of the Board
Entergy Systems and Service, Inc.
Statement of Operations
For the Quarter Ended March 31, 1995
(Unaudited)
Revenue $ 3,451,781
Cost of Goods Sold 2,249,683
-----------
Gross Margin 1,202,098
Selling, general and administrative expenses:
Salaries and wages 3,995,365
Other 4,307,858
-----------
Operating loss (7,101,125)
Other income 479,037
Interest expense 1,602,040
-----------
Loss before income taxes (8,224,129)
Income taxes (2,878,445)
-----------
Net loss $(5,345,684)
===========
<PAGE>
Entergy Systems and Service, Inc.
Balance Sheet
March 31, 1995
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents $ 16,177,402
Accounts receivable 2,424,344
Other current assets 350,509
------------
Total current assets 18,952,254
------------
Furniture, fixtures and equipment, net 5,928,573
Equipment Inventory - held for installation 14,392,698
Installations-in-process 5,326,817
Installed equipment 9,446,256
Investment in affiliate 2,316,996
Loan receivable from affiliate 2,700,000
Goodwill, net 962,471
Deferred taxes 11,298,426
Other assets 13,851,485
------------
$ 85,175,977
============
LIABILITIES AND SHAREHOLDER'S EQUITY
Current liabilities:
Accounts payable $ 3,043,333
Accrued liabilities 375,712
Current portion of capital lease obligations 157,927
------------
Total current liabilities 3,576,972
------------
Note payable to parent 72,300,000
Deferred credit - Sanwa 4,289,758
Deferred service contract revenue 10,478,095
Accrued maintenance costs 194,849
Capital lease obligations 284,300
Long-term Liabilities 2,144,633
------------
Total liabilities 93,268,608
------------
Shareholder's equity:
Common stock, no par value, 50,000 shares authorized,
13,500 shares issued and outstanding 13,500,000
Accumulated defecit (21,592,631)
------------
Total shareholder's equity (8,092,631)
------------
$ 85,175,977
============
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