Vectren Corporation Reports Second Quarter 2014 Results; Updates Guidance – Yahoo Finance

Management uses consolidated net income, consolidated earnings per share, and Nonutility Group net income, excluding results from Coal Mining and ProLiance in the respective year of disposition, to evaluate its results. Coal Mining and ProLiance results that are excluded from the GAAP measures are inclusive of holding company costs (corporate allocations, interest and taxes) that will be reallocated after these assets are/were sold. Management believes analyzing underlying and ongoing business trends is aided by the removal of Coal Mining and ProLiance results in the respective year of disposition and the rationale for using such non-GAAP measures is that, through planned disposition of the Coal Mining segment and through the disposing by ProLiance of certain ProLiance Energy assets, the Company has completely exited the natural gas marketing business and will exit the coal mining business when the transaction closes. A material limitation associated with the use of these measures is that the measures that exclude Coal Mining and ProLiance results do not include all costs recognized in accordance with GAAP. Management compensates for this limitation by prominently displaying a reconciliation of these non-GAAP performance measures to their closest GAAP performance measures. This display also provides financial statement users the option of analyzing results as management does or by analyzing GAAP results. The following table reconciles consolidated net income, consolidated basic EPS, and Nonutility Group net income to those results excluding Coal Mining and ProLiance results in the respective year of disposition. Please SEE ATTACHED unaudited schedules for additional financial information Live Webcast on August 5, 2014 Vectren’s financial analyst call will be at 2:00 p.m. (EDT), August 5, 2014, at which time management will discuss second quarter financial results and the increased 2014 earnings guidance.
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