Alabama Power Company Reports Quarterly Earnings
Alabama Power today issued the following:
Company description * Birmingham based investor-owned electric utility; a subsidiary of Southern Company
Comments -- "Territorial sales continued to decrease in the fourth quarter 2001 due to milder weather and a slowing economy. However, lower non-fuel operating expenses offset the decrease and resulted in the increase in net income for the quarter. Net income for 2001 decreased compared to the year 2000. This was primarily a result of 2001 territorial energy sales being 5% below the prior year due to much milder weather during 2001 and a slowing economy. The lower sales were offset somewhat by a reduction in non-fuel operating expenses." -- William B. Hutchins, III, executive vice president, chief financial officer and treasurer.
SOURCE: Alabama Power Company
Contact: Darya Braggs of Alabama Power Company, +1-205-257-4155, or