Extract
Cinergy Reports Earnings for 2002.
Business Editors
CINCINNATI--(BUSINESS WIRE)--Jan. 23, 2003 Cinergy Corp. (NYSE:CIN) today reported 2002 earnings of $2.68 per share on a diluted basis, before one-time charges totaling $0.55 for early retirement and other employee severance programs, charges related to certain investments, and a cumulative change in accounting principle. This compares with earnings of $2.75 per share on a diluted basis in 2001. Including one-time charges, 2002 earnings were $2.13 per share on a diluted basis. In the fourth quarter 2002, Cinergy reported earnings of $0.78 per share before one-time charges of $0.20, compared with $0.69 per share in the same quarter 2001. The one-time charges reflect the costs of the employee programs as well as charges related to certain assets and investments in technology and equipment. Fourth quarter earnings including one-time charges were $0.58 per share. "We had a solid year of delivering value to all our stakehold...See the full content of this document
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