Southern Companys first-quarter earnings decreased by $46 million or 7 cents a share in 1997 compared with the first
quarter of 1996, Chairman, President and Chief Executive Officer A.W. Dahlberg announced today.
Mild weather in January, February and March of this year resulted in lower demand for electricity, Dahlberg said. Our
acquisition of a stake in Consolidated Electric Power Asia also had some effect.
Southern Company (NYSE: SO), the largest producer of electricity in the United States, is the parent firm of Alabama
Power, Georgia Power, Gulf Power, Mississippi Power and Savannah Electric. Based in Atlanta, Southern Company
supplies electricity in eight countries on four continents and provides energy-related marketing, trading and technical services
and wireless telecommunications. Southern Companys common stock is one of the 20 most widely held corporate stocks in
In the three months ending March 31, 1997, the company earned $187 million or 28 cents a share, compared with $233
million or 35 cents a share for the comparable 1996 period. Earnings for the 12 months ending March 31, 1997, were $1.08
billion or $1.60 a share, compared with $1.13 billion or $1.69 a share for the 12 months ending March 31, 1996.
First quarter 1997 revenues were $2.6 billion, compared with $2.4 billion in 1996s first quarter. Revenues for the 12
months ending March 31, 1997, were $10.5 billion, compared with $9.7 billion for the previous 12-month period.
Reviewing operations, Dahlberg said electricity use by retail customers in Southern Company`s service area decreased 1.7
percent during the first quarter of 1997. In-home electricity needs were down 9.7 percent to 8.8 billion kilowatt-hours.
Electricity consumption by commercial customers offices, stores and other non-manufacturing firms rose 0.3 percent
to 8.7 billion kilowatt-hours. Industrial energy use increased 2.9 percent to 12.9 billion kilowatt-hours.
Total sales of electricity to customers of Southern Company, including sales to other utilities, were down 1.3 percent in the
first quarter of 1997, compared with the first quarter of 1996.