Earnings Statement
Consolidated
Statements of Earnings
(Unaudited)
(In Thousands)
| |
|
Three Months
Ended |
|
| |
|
March 31/02 |
March 31/01 |
|
 |
|
| Revenue from |
|
|
|
|
|
| |
Products and services |
$123,994 |
|
$70,294 |
|
|
|
|
| Expenses |
|
|
|
|
|
| |
Products
and services sold |
77,490 |
|
37,989 |
|
|
| |
Depreciation,
depletion and reclamation |
23,641 |
|
16,989 |
|
|
| |
Administration |
8,583 |
|
8,617 |
|
|
| |
Exploration |
4,297 |
|
3,980 |
|
|
| |
Research
and development |
568 |
|
514 |
|
|
| |
Interest
and other [note 5] |
(1,530) |
|
(1,061) |
|
|
|
|
| |
|
113,049 |
|
67,028 |
|
|
|
|
| Earnings from operations |
10,945 |
|
3,266 |
|
|
| |
Earnings from Bruce Power |
(2,244) |
|
- |
|
|
| |
Other income |
205 |
|
297 |
|
|
|
|
| Earnings before income taxes |
8,906 |
|
3,563 |
|
|
| |
Income tax expense (recovery) |
|
|
|
|
|
| |
|
- current |
1,138 |
|
1,294 |
|
|
| |
|
- future |
428 |
|
(856) |
|
|
|
|
| Net earnings |
7,340 |
|
3,125 |
|
|
| Preferred securities charges,
net of tax |
2,396 |
|
2,357 |
|
|
|
|
| Net earnings attributable
to common shares |
$4,944 |
|
$768 |
|
|
|
|
| Basic earnings per common
share |
$0.09 |
|
$0.01 |
|
|
|
|
| Diluted earnings per common
share |
$0.09 |
|
$0.01 |
|
|
|
|
|
Consolidated Statements of Retained Earnings
(Unaudited)
(In Thousands)
| |
Three
Months Ended |
|
| |
March
31/02 |
March
31/01 |
|
|
|
| Retained earnings at beginning
of period |
$465,420 |
|
$437,328 |
|
|
| Net earnings |
7,340 |
|
3,125 |
|
|
| Dividends on common shares |
(6,894) |
|
(6,941) |
|
|
| Preferred securities charges,
net of tax |
(2,396) |
|
(2,357) |
|
|
|
|
| Retained earnings at
end of period |
$463,470 |
|
$431,155 |
|
|
|
|
| |
|
|
|
|
|
See accompanying
notes to consolidated financial statements |
