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
"While territorial sales were greater during the quarter ended December 2000 due to the cold weather, higher non-fuel operating expenses during the quarter, together with the positive impact during the fourth quarter of 1999 of a gain on sale of distribution facilities to other suppliers in accordance with State territorial legislation, resulted in net income for the quarter being lower than the fourth quarter of 1999. Net income increased in the twelve month period ended December 2000 due to an increase in territorial sales partially offset by increased non-fuel operating expenses." -- William B. Hutchins, III, executive vice president, chief financial officer and treasurer.
SOURCE: Alabama Power
Contact: Darya Braggs of Alabama Power, 205-257-4155, or