South Jersey Industries Q4 Profit Increases - Quick Facts

(RTTNews) - South Jersey Industries Inc. (SJI) reported that its fourth quarter 2013 net income increased to $39.26 million or $1.22 per share, from $25.19 million or $0.80 per share in the same quarter last year.

GAAP income from continuing operations was $39.36 million, or $1.22 per share, up from $25.57 million, or $0.81 per share in the year ago quarter.

On an Economic Earnings basis for fourth quarter 2013, SJI reported income of $39.9 million, or $1.23 per share, compared with $30.6 million, or $0.98 per share, for the same period last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.25 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly total operating revenues grew to $224.39 million from the previous year's $197.56 million.

The company also initiated 2014 guidance of 6 to 12 percent growth in Economic Earnings over 2013, which equates to $3.21 to $3.39 per share. Analysts project annual earnings per share of $3.40.