Earnings Statement
Consolidated Statements of Earnings
(Unaudited)
(In Thousands)
| |
|
Three Months Ended |
|
| |
|
March 31/00 |
March 31/99 |
|
|
|
| Revenue from |
|
|
|
|
|
| |
Products and services |
$142,427 |
|
$146,987 |
|
|
|
|
| Expenses |
|
|
|
|
|
| |
Products and services
sold |
85,610 |
|
80,077 |
|
|
| |
Depreciation, depletion
and reclamation |
24,550 |
|
29,866 |
|
|
| |
Administration |
7,639 |
|
6,907 |
|
|
| |
Exploration |
4,050 |
|
5,764 |
|
|
| |
Research and development |
716 |
|
495 |
|
|
| |
Interest and other
|
(1,127) |
|
1,380 |
|
|
|
|
| |
|
121,438 |
|
124,489 |
|
|
|
|
| Earnings from operations |
20,989 |
|
22,498 |
|
|
| |
|
|
|
|
|
|
| |
Other income |
1,093 |
|
- |
|
|
|
|
| Earnings before income taxes |
22,082 |
|
22,498 |
|
|
| |
|
|
|
|
|
|
| |
Income tax expense |
|
|
|
|
|
| |
|
- current |
1,300 |
|
80 |
|
|
| |
|
- deferred |
9,218 |
|
11,296 |
|
|
|
|
| Net earnings |
11,564 |
|
11,122 |
|
|
| |
|
|
|
|
|
|
| Preferred securities charges, net of tax |
2,172 |
|
2,267 |
|
|
|
|
| Net earnings attributable to common shares |
$9,392 |
|
$8,855 |
|
|
|
|
| Net earnings per common share |
$0.17 |
|
$0.15 |
|
|
|
|
| |
|
|
|
|
|
|
|
Consolidated
Statements of Retained Earnings
(Unaudited)
(In Thousands)
| |
Three Months Ended |
|
| |
March 31/00 |
March 31/99 |
|
|
|
| Retained earnings at beginning of period |
$552,154 |
|
$509,326 |
|
|
| Net earnings |
11,564 |
|
11,122 |
|
|
| Dividends on common shares |
(7,081) |
|
(7,209) |
|
|
| Preferred securities charges, net of tax |
(2,172) |
|
(2,267) |
|
|
|
|
| Retained earnings at end of period |
$554,465 |
|
$510,972 |
|
|
|
|
| |
|
|
|
|
|
See accompanying notes to consolidated
financial statements
|
