Date: Thu, 18 Dec 1997 21:24:29 GMT Server: Apache/1.2.0 Last-Modified: Fri, 26 Sep 1997 18:33:23 GMT ETag: "a6ecc-785a-342bfff3" Content-Length: 30810 Accept-Ranges: bytes Connection: close Content-Type: text/html
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May 27, 1997Indiana Energy, Citizens Gas & Coke and SIGCORP Sign Letter of Intent to Form an Energy Management AllianceINDIANAPOLIS - Indiana Energy, Inc., the holding company of Indiana Gas Company, Inc., Citizens By-Products Coal Company, the unregulated subsidiary of Citizens Gas & Coke Utility, and SIGCORP, the holding company of Southern Indiana Gas and Electric Company, have agreed to form a jointly owned entity for the purpose of providing comprehensive energy management solutions through performance contracting. The new entity, Energy Systems Group, LLC (ESG), will provide a total package of products, services and skills to help energy users achieve enhanced energy and operational performance. The packages will provide for improvements to be paid for from savings generated within existing operating budgets. ESG will assume the responsibilities of Energy Systems Group, Inc. an energy related performance contracting firm of SIGCORP. The new entity will begin operations sometime this summer with offices in Indianapolis and Evansville. Indiana Gas provides natural gas and related services to about 470,000 residential, commercial and industrial customers in 48 of Indiana’s 92 counties. Citizens Gas serves about 250,000 natural gas customers in Marion County. Southern Indiana Gas and Electric Company serves more than 122,000 electric customers and 106,000 natural gas customers in 10 southwestern Indiana counties. The companies do not intend to issue further news releases regarding this transaction until after the execution of a definitive agreement. |
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April 28, 1997Indiana Energy, Indiana Gas Announce Organizational ChangesINDIANAPOLIS - The boards of directors of Indiana Energy and Indiana Gas elected Niel C. Ellerbrook as president and chief operating officer of Indiana Energy and president of Indiana Gas effective Oct. 1, 1997. L. A. Ferger will continue as chairman and chief executive officer of both companies. Also effective Oct. 1, 1997, the Indiana Gas board elected Paul T. Baker as executive vice president and chief operating officer of Indiana Gas. Carl L. Chapman was also elected president of IEI Investments, a subsidiary of Indiana Energy that will expand its focus on serving unregulated energy markets. "These actions by the boards continue the process of management succession at our company," Ferger said. "These are steps in a series of changes that will be taking place over the next several months to provide for an orderly transition to a new management team in contemplation of my normal retirement approximately two years from now. These steps are also part of the process of adapting our corporate structure to the changing business environment and focusing the management team on current and future challenges and opportunities." |
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April 25, 1997Indiana Energy, Inc.
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Summary of Consolidated Earnings Data | ||
Three Months Ended March 31 | ||
(In Thousands Except Per Share Data) | 1997 | 1996 |
Utility Operating Revenues | $ 215,695 | $ 222,553 |
Net Income | $ 24,349 | $ 26,234 |
Earnings Per Average Common Share | $ 1.07 | $ 1.16 |
Average Common Shares Outstanding | 22,580 | 22,535 |
NOTE: Net income for the three-month period ended March 31 is not indicative of net income for an annual period due to the seasonal sales of gas for space heating purposes. | ||
Twelve Months Ended March 31 | ||
(In Thousands Except Per Share Data) | 1997 | 1996 |
Utility Operating Revenues | $ 541,908 | $ 517,142 |
Net Income | $ 38,508 | $ 45,333 |
Earnings Per Average Common Share | $ 1.71 | $ 2.01 |
Average Common Shares Outstanding | 22,534 | 22,549 |
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January 31, 1997Indiana Energy, Inc.
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Summary of Consolidated Earnings Data | ||
Three Months Ended December 31 | ||
(In Thousands Except Per Share Data) | 1996 | 1995 |
Utility Operating Revenues | $ 172,481 | $ 154,309 |
Net Income | $ 17,285 | $ 19,093 |
Earnings Per Average Common Share | $ .77 | $ .85 |
Average Common Shares Outstanding | 22,578 | 22,540 |
NOTE: Net income for the three-month period ended December 31 is not indicative of net income for an annual period due to the seasonal sales of gas for space heating purposes. | ||
Twelve Months Ended December 31 | ||
(In Thousands Except Per Share Data) | 1996 | 1995 |
Utility Operating Revenues | $ 548,766 | $ 445,057 |
Net Income | $ 40,393 | $ 41,175 |
Earnings Per Average Common Share | $ 1.79 | $ 1.83 |
Average Common Shares Outstanding | 22,522 | 22,556 |
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January 22, 1997Quarterly DividendINDIANAPOLIS - The board of directors of Indiana Energy, Inc., the holding company of Indiana Gas Company, Inc. and other subsidiaries, today declared a cash dividend of 28 ½ cents per share of common stock. This is unchanged from the previous quarter. The dividend is payable March 1, 1997 to shareholders of record February 14, 1997. Indiana Gas is a local gas distribution company serving more than 454,000 residential, commercial and industrial customers in 48 of Indiana's 92 counties. |
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January 22, 1997Outstanding Results,Future Planning Highlight Indiana Energy's Fiscal YearINDIANAPOLIS - Fiscal year 1996 was one of the most outstanding years in Indiana Energy, Inc.'s history. That was one of the messages Chairman, President and Chief Executive Officer L.A. Ferger conveyed to shareholders during the company's annual meeting today. Thanks to the coldest weather in a decade and continued service area growth, Indiana Energy, the holding company of Indiana Gas Company, Inc., experienced outstanding financial performance. The following are highlights of Ferger's comments about the fiscal year, which ended September 30, 1996:
Among the tough challenges faced by the company during fiscal 1996 were two regulatory proceedings that may affect the formation, operation and earnings of ProLiance. The company hopes to have a resolution of these issues during the first half of calendar 1997. The company continues to implement its program for investigating, and if necessary remediating former manufactured gas plant sites and believes that the proceeds of insurance settlements received to date will be adequate to fund its share of costs presently incurred or expected to be incurred in connection with that program. If future events require additional activities that are not presently foreseen, adverse judicial and regulatory decisions, which are in various stages of review or appeal, have limited the company's ability to recover the costs of those additional activities from ratepayers or insurers. Ferger also provided some insight on the future. "Management, as well as employees of the company, are confronting the challenge of making sense of the future on a daily basis," said Ferger. "In order to excel in the evolving energy industry, we must focus on the key areas of competition, customers, cost effectiveness and culture. We are committed to identifying and meeting these challenges in a prudent, creative, cost-effective manner, and to building the same shareholder value in the future that we have in the past." In a vote by shareholders, four directors were re-elected to three-year terms. They are: Niel C. Ellerbrook, vice president, treasurer and chief financial officer of Indiana Energy and senior vice president and chief financial officer of Indiana Gas; Loren K. Evans, retired vice chairman and director of Arvin Industries; Fred A. Poole, general manager of the United Air Lines Maintenance Center; and Jean L. Wojtowicz, owner and president of Cambridge Capital Management Corporation. Following the shareholders' meeting, the board of directors elected Niel C. Ellerbrook executive vice president, treasurer and chief financial officer of Indiana Energy and executive vice president and chief financial officer of Indiana Gas. The other current officers of Indiana Energy and Indiana Gas were re-elected, and Robert E. Heidorn was elected assistant secretary and deputy general counsel of both Indiana Energy and Indiana Gas. Other members of the board of directors are: L.A. Ferger; Paul T. Baker, senior vice president and chief operating office of Indiana Gas; Otto N. Frenzel III, chairman of the executive committee of National City Bank, Indiana; Anton H. George, president of the Indianapolis Motor Speedway and president of Hulman & Co.; Don E. Marsh, chairman, president, chief executive officer and director of Marsh Supermarkets, Inc.; Richard P. Rechter, chairman of the board of the Rogers Group; and James C. Shook, president of the Shook Agency. |
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