EWST: Energy West, Incorporated Announces Unaudited Financial Results for Fiscal Year 2006 and Increased Quarterly Dividend
Monday August 14, 12:58 pm ET
GREAT FALLS, Mont., Aug. 14 /PRNewswire-FirstCall/ -- ENERGY WEST, INCORPORATED (Nasdaq: EWST - News), a natural gas, propane and energy marketing company serving the Rocky Mountain states, released its unaudited earnings for the fiscal year ended June 30, 2006, and announced the declaration of a dividend in the amount of $.10 per share. The Company intends to file its Form 10-K for fiscal year 2006 with audited results by late September after the conclusion of its audit.
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The Company's unaudited net income for the fiscal year concluded on June 30, 2006 is $2,135,351 ($.73 per share). The Company's Form 10-K for fiscal year 2005 reported net income of $1,381,469 ($.53 per share). The improvement in the Company's net income for this fiscal year is an increase of 55% over the results reported for fiscal year 2005, and is primarily due to increased operating efficiencies in the utility segment and improvements in the unregulated marketing and production business.
The Company also announces that the Board of Directors have declared a dividend of $.10 per share for shareholders of record as of August 24, 2006, which will be payable on August 31, 2006. The dividend represents a 25% increase in the quarterly dividend compared to the dividend for last quarter which was paid on May 31, 2006.
David Cerotzke, the Company's President and CEO, stated "We are very proud that this year's earnings, which represent a record for our core business, were achieved in spite of warmer than normal weather and high natural gas prices. Our goal is to sustain our growth in earnings and dividends for our shareholders."
For additional information or clarification, please contact: John Allen
Our toll-free number is 1-800-570-5688. Our web address is www.energywest.com. Our address is P.O. Box 2229, Great Falls, MT 59403-2229.
