Alabama Power Company Reports Quarterly Earnings
The following was issued today by Alabama Power Company:
Company description * Birmingham based investor-owned electric utility; a subsidiary of Southern Company. Performance * Earnings up for the third quarter and 12-month period ended September 2000. Net Income * Third Quarter Net Income -- $ 208,726,000 for the third quarter of 2000 -- $ 200,821,000 for the third quarter of 1999 * 12 Months Ended Net Income -- $ 422,360,000 for the 12-month period ended September 2000 -- $ 399,407,000 for the 12-month period ended September 1999 Total Territorial Energy Sales * Third Quarter Energy Sales -- 16.4 billion kilowatt-hours for the third quarter of 2000 -- 16.2 billion kilowatt-hours for the third quarter of 1999 * 12 Months Ended Energy Sales -- 55.2 billion kilowatt-hours for the 12-month period ended September 2000 -- 53.8 billion kilowatt-hours for the 12-month period ended September 1999 Comments
"The increase in net income for the third quarter ended September 2000 was primarily due to a decrease in non-fuel operation expenses. Net income increased in the twelve month period ended September 2000 primarily due to an increase in territorial energy sales."
-- William B. Hutchins, III, executive vice president, chief financial
officer and treasurer.
SOURCE: Alabama Power Company
Contact: Darya Braggs, 205-257-4211, or pager, 205-918-3569, or