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NEWS
RELEASE
February 10, 2010
Contact: John B. Williamson, III
Chairman of the Board, President and CEO
RGC
RESOURCES, INC.
FIRST QUARTER FINANCIAL RESULTS
RGC
Resources, Inc. (NASDAQ: RGCO) announced consolidated Company
earnings of $1,830,280 or $0.82 per average share outstanding
for the quarter ended December 31, 2009. This compares to
consolidated earnings of $1,949,159 or $0.88 per average
share outstanding for the quarter ended December 31, 2008.
President, Chairman and CEO John Williamson attributed the
modest decrease in earnings to lower margins as a result
of warmer weather and lower industrial sales related to
a slow economy.
Earnings per share for the twelve months ending December
31, 2009 were $4,750,131 or $2.13 per share compared to
$2.10 per share for the twelve months ended December 31,
2008. Earnings for the twelve months ended December 31,
2009 were positively impacted by modestly improved margins
from non-utility operations.
RGC Resources, Inc. provides energy and related products
and services to customers in Virginia through its operating
subsidiaries Roanoke Gas Company, Diversified Energy Company
and RGC Ventures of Virginia, Inc.
From time to time, the Company may publish forward-looking
statements relating to such matters as anticipated financial
performance, business prospects, technological developments,
new products, research and development activities and similar
matters. The Private Securities Litigation Reform Act of
1995 provides a safe harbor for forward-looking statements.
In order to comply with the terms of the safe harbor, the
Company notes that a variety of factors could cause the
Company's actual results and experience to differ materially
from the anticipated results or other expectations expressed
in the Company's forward-looking statements.
Summary financial statements for the first quarter and twelve
months are as follows: First
Quarter Financial Statement Ending 12/31/09
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