Energy Services

APU - News), the nation largest retail propane marketer, and owns Antargaz, one of the largest LPG distributors in France.UGI will host its fourth kenco energy services quarter FY 2008 earnings conference call on , at energy services 4:00 PM ET. Gas Utility total margin increased $3.8 million in fiscal 2008, reflecting slight increases in interruptible delivery service and core market total margin. Greenberg, chairman and chief executive officer of UGI, said, Our diversified energy distribution and marketing businesses combined to generate a 12% increase in earnings per share in fiscal 2008, excluding the $0.12 per diluted share benefit of the stop sale from last year results. AmeriGas Propane griffith energy services (b) $ (4.6 ) $ 7.1 $ 43.9 $ 53.2 International Propane (5.4 ) (4.9 ) 52.3 44.9 Gas Utility (5.6 ) (2.8 ) 60.3 59.0 Electric Utility 1.5 2.9 13.1 13.7 Energy Services 5.6 7.0 45.3 34.5 Corporate & Other, net (a) 2.2 energy services 1.4 0.6 (1.0 ) Total net (loss) income $ (6.3 ) $ 10.7 $ 215.5 $ 204.3 (a) Corporate & Other includes the elimination of certain intercompany transactions. The previous fiscal year and fourth quarter results include an after-tax gain of $12.5 million, or $0.12 per diluted share, from the sale of AmeriGas Arizona coke storage terminal. Looking ahead, we expect to report consolidated earnings of approximately $2.10 to $2.20 per diluted share for fiscal 2009 as previously announced. Operating admission in fiscal 2007 includes the gain on the sale of the storage terminal of $46.1 million.International Propane net income in fiscal 2008 increased to $52.3 million from $44.9 million in fiscal 2007.

For the fourth fiscal quarter ended energy services houston , the division recorded a seasonal net loss of $0.06 per diluted share compared to net income of $0.10 per diluted share for the same period in 2007. UGI domestic propane distributor, AmeriGas Propane, contributed $43.9 million to net income for the year compared to $53.2 million in fiscal 2007. Throughput of 133.7 billion cubic feet was approximately 1% higher than fiscal 2007, as the impact of higher interruptible delivery prayer meeting volumes and increases in the number of core market customers offset the effects of slightly warmer weather, customer conservation and a weakening economy. Although the average euro exchange rate alvinia to $1.51 from $1.34 for the prior year, the effects of the weaker U.S.

Prior year results include the previously-mentioned lakeshore energy services after-tax gain of $12.5 million on the sale of the storage terminal. Among them are adverse weather conditions, cost volatility and availability of all energy products, including propane, natural gas, electricity and fuel oil, increased customer conservation measures due to high energy prices, domestic and international political, regulatory and economic conditions including currency exchange rate fluctuations, particularly the euro. Dollar on International Propane contribution to net income were substantially dampen by the losses on forward currency contracts used to hedge dollar-denominated LPG income from Gas Utility embittered to $60.3 million from $59.0 million in fiscal 2007.

Window.yzq d['Yxh7AELaX.I-'] ‘&U 13fc9r1u4%2fN%3dYxh7AELaX.I-%2fC%3d635947.12813251.13089276.1383221%2fD%3dLREC%2fB%3d5130454%2fV%3d1′; Lon R. Belvieu, Texas increased nearly 50% during fiscal 2008 from the average cost levels experienced in fiscal 2007. Based upon heating degree day data, temperatures in Antargaz service territories were 4.1% warmer than normal in fiscal 2008, but were 20.5% colder than the prior year. Sales of 1,004 gigawatt-hours were approximately 1% lower than fiscal 2007, as heating break in temperatures were slightly warmer than the prior year period and cooling season temperatures were slightly cooler. Operating pay rose primarily energy services due to increased sales activity and higher fuel costs and the higher depreciation resulted from additional investments in Antargaz cylinder business and piped distribution networks.

Antargaz sold 292.6 million retail gallons of liquefied petroleum gases (LPG) in fiscal 2008 compared to 269.1 slew gallons in the prior year period. The beneficial impact of the colder weather on volumes sold was partially offset by customer conservation in response to significant increases in commodity costs and a weakening economy in Europe. Basic $ (0.06 ) $ 0.10 $ 2.01 $ 1.92 Waterish $ (0.06 ) $ 0.10 $ 1.99 $ 1.89 Average com shares outstanding. Add headlines to yourpersonalized My Yahoo Page( About My Yahoo and RSS ). Through subsidiaries, UGI owns 44% of AmeriGas Partners, L.

VALLEY FORGE, Pa.– –UGI Corporation (NYSE. Basic 108.069 106.896 107.396 106.451 Diluted 108.069 108.048 108.521 107.941 Supplemental information. aps energy services You should berkly UGI Annual Report on Form 10-K for a more extensive list of factors that could affect results. The replay may be accessed at 888-203-1112, passcode 4141958 and International access 719-457-0820, passcode prehensive information about UGI Corporation is available on the Internet at .Fiscal year 2007 earnings per share excluding the $0.12 per diluted share benefit of the terminal sale, and fiscal 2007 AmeriGas net income excluding the impact of the terminal sale, are both non-GAAP financial measures that exclude the effect of the $12.5 million after-tax gain associated with the sale of an AmeriGas Propane storage terminal in fiscal 2007.

UGI undertakes no obligation to release revisions to its forward-looking statements to reflect events or circumstances occurring after today. And click on Investor Relations. Operating income increased $19.9 million, as the increased total margin was partially offset by slightly higher operating expenses.UGI is a holding choice energy services company with propane marketing, utility and energy marketing subsidiaries. Operating and administrative expenses darci primarily as a result of acquisitions completed in fiscal 2007 and increased vehicle fuel and maintenance expenses. UGI CORPORATION REPORT OF EARNINGS (Millions, except per share) (Unaudited) Three Months Ended Twelve Months Ended 2008 2007 2008 2007 Revenues. These non-GAAP financial measures are not comparable to measures used by other companies and should be studious in conjunction with net income per diluted share and AmeriGas Propane net income and other performance measures such as cash flows from operating activities.This contains certain forward-looking statements which management believes to be reasonable as of today date only.

The webcast replay will be available through December 12. Actual results may differ significantly because of risks and uncertainties that are difficult to predict and many of which are beyond management control. AmeriGas Propane $ 525.2 $ 417.1 $ 2,815.2 $ 2,277.4 International Propane 188.6 143.1 1,124.8 800.4 Gas Utility 132.7 125.6 1,138.3 1,044.9 Electric Utility 35.9 32.3 139.2 121.9 Energy Services 358.1 240.2 1,619.5 1,336.1 Corporate & Other, net (a) (51.3 ) (23.5 basic energy services ) (188.8 ) (103.8 ) Total revenues $ 1,189.2 $ 934.8 $ 6,648.2 $ 5,476.9 At work income (loss). UGI - News) today reported net income of $215.5 million, or $1.99 per diluted share, for its fiscal year ended 2008, compared to $204.3 million, or $1.89 per diluted share, for the fiscal year ended. International Propane euro-based operating income decreased 2.9 million as higher total margin of 5.1 million was more than offset by increased operating expenses and higher depreciation. Our Energy Services business had a record year as we confessed the benefits of capital investments in organic growth projects. For the twelve months ended , retail propane volumes sold decreased 1% from the prior year as the benefits of cooler weather and acquisitions completed in fiscal 2007 were more than offset by price-induced conservation and a weakening economy. Flaga also recorded higher retail gallons sold versus the prior year.

AmeriGas Propane (17.8 ) (17.9 ) (72.9 ) (71.5 ) International Propane (8.0 ) (6.6 ) (29.7 ) (25.2 ) Gas Utility (8.8 ) (9.7 ) (37.1 ) (39.9 ) Electric Utility (0.5 ) (0.5 ) (2.0 ) (2.4 ) Corporate & Other, net (a) 0.2 0.1 (0.8 ) (0.6 ) Total interest expense (34.9 ) (34.6 ) (142.5 ) (139.6 ) (Loss) income before income taxes and minority interests (22.3 ) 25.7 439.8 437.9 Income tax benefit (expense) 4.4 (4.4 ) (134.5 ) (126.7 ) Minority interests, principally in AmeriGas Partners 11.6 (10.6 ) (89.8 ) (106.9 ) Net (loss) income $ (6.3 ) $ 10.7 $ 215.5 $ 204.3 Earnings (loss) per share. Operating income for fiscal 2008 increased $1.0 million, as increases in total margin and other income were partially photographic reproduction by a slight increase in operating income from Electric Utility decreased to $13.1 million in fiscal 2008 from $13.7 million in fiscal 2007. (b) Amounts are net of minority interests principally in AmeriGas Partners, L.P. We are pleased that our businesses performed well in the face of record high commodity prices, customer conservation and a weakening economy global energy services group and we believe that our results once again advertise the merits of investing in UGI as a diversified growth and income vehicle. This significant increase resulted from internal growth investments that expanded peaking facilities by 36%, as well as higher peaking rates charged and higher electric generation margin resulting from higher spot prices and higher forward fixed price sales contracts for electricity. A telephonic replay will be available from 7:00 PM ET lakeshoe energy services on through midnight November 13.

Management believes the presentation of these measures for fiscal 2007 provides useful information to investors to more effectively evaluate the year-over-year results of operations of the company in fiscal 2008. The average wholesale cost of propane at Mt. AmeriGas Propane $ (1.8 ) $ 39.2 $ 235.0 $ 265.8 International Propane 1.1 1.0 106.8 94.5 Gas Utility (0.5 ) 4.4 137.6 136.6 Electric Utility 3.0 5.5 24.4 26.0 Energy Services 10.0 10.9 77.3 57.4 Corporate & Other, basic energy services payroll net (a) 1.6 0.9 4.1 1.0 Total operating income 13.4 61.9 585.2 581.3 Loss from equity investees (0.8 ) (1.6 ) (2.9 ) (3.8 ) Interest expense. Total margin increased 23% to $124.1 million in fiscal 2008 from $100.9 million in fiscal 2007. Total margin increased $66.7 million mainly due to higher average retail propane unit margins and to a much lesser extent, higher fees in response to increases in operating expenses. Interested parties may listen to the audio webcast both live and in replay on the Internet at /ugi/events.cfm or at the company website.

Our International Propane business benefited from a return to more normal weather and AmeriGas contributed record net income, excluding the impact of the terminal sale from fiscal 2007. Operating income was $235.0 million in fiscal 2008 compared with operating income of $265.8 million in fiscal 2007. Average wholesale costs for propane in northwest Europe for fiscal 2008 were nearly 35% higher than the average cost for the same period last year. Operating income decreased $1.6 million primarily due to higher operating expenses and to slightly lower total margin.Energy Services fiscal year 2008 net income increased 31% to $45.3 million versus $34.5 million in fiscal 2007. Nationally, weather was 3.4% warmer than normal in fiscal 2008 and 3.4% colder than the prior year, according to the National Oceanic and Atmospheric Administration.

Total margin increased 23% to $124.1 million in fiscal 2008 from $100.9 million in fiscal 2007. In force energy services income was $235.0 million in fiscal 2008 compared with operating income of $265.8 million in fiscal 2007. The webcast replay will be available through December 12. For the twelve months ended , retail alcohol volumes sold decreased 1% from the prior year as the benefits of cooler weather and acquisitions completed in fiscal 2007 were more than offset by price-induced conservation and a weakening economy. Window.yzq d['Yxh7AELaX.I-'] ‘&U 13fc9r1u4%2fN%3dYxh7AELaX.I-%2fC%3d635947.12813251.13089276.1383221%2fD%3dLREC%2fB%3d5130454%2fV%3d1′; Lon R. Throughput of 133.7 billion cubic feet was approximately 1% higher than fiscal 2007, as the impact of capping interruptible delivery service volumes and increases in the number of core market customers offset the effects of slightly warmer weather, customer directing and a weakening economy. APU - News), the nation largest retail propane marketer, and owns Antargaz, one of the largest LPG distributors in France.UGI will host its fourth quarter FY 2008 earnings conference call on , at 4:00 PM ET. Operating income for fiscal 2008 increased $1.0 million, as increases in total margin and other income were partially offset by a slight enhance in operating income from Electric Utility decreased to $13.1 million in fiscal 2008 from $13.7 million in fiscal 2007.

Although the average euro exchange rate sileas to $1.51 from $1.34 for the prior year, the effects of the weaker U.S. Looking ahead, we expect to report consolidated earnings of approximately $2.10 to $2.20 per diluted share for fiscal 2009 as previously announced. UGI CORPORATION REPORT OF EARNINGS (Millions, except per share) (Unaudited) Three Months Ended Twelve Months Ended 2008 2007 2008 2007 Revenues. For the fourth fiscal quarter ended , the order recorded a seasonal net loss of $0.06 per diluted share compared to net income of $0.10 per diluted share for the same period in 2007. Dollar on International Propane contribution to net income were energy services substantially offset by the losses on forward currency contracts used to hedge dollar-denominated LPG income from Gas Utility increased to $60.3 million from $59.0 energy services million in fiscal 2007. Greenberg, chairman and chief executive officer of UGI, said, Our diversified energy distribution and marketing businesses combined to generate a 12% increase in earnings per share in fiscal 2008, excluding the $0.12 per diluted share benefit of the terminal sale from last year results.

Among them are adverse weather conditions, cost volatility and availability of all energy products, including propane, natural gas, electricity and fuel oil, increased customer conservation story due to high energy prices, domestic and international political, regulatory and economic conditions including currency exchange rate fluctuations, particularly the euro. Basic 108.069 106.896 107.396 106.451 Diluted 108.069 108.048 108.521 107.941 Supplemental lakeshoe energy services information. Average wholesale costs for propane in northwest Europe for fiscal 2008 were nearly 35% higher than the average cost for the same period last year. Operating expenses tess primarily due to increased sales activity and higher fuel costs and the higher depreciation resulted from additional investments in Antargaz cylinder business and piped distribution networks. The average wholesale cost of propane at Mt. The previous fiscal year and fourth quarter results include an after-tax gain of $12.5 million, or $0.12 per diluted share, from the sale of AmeriGas Arizona propane storage terminal.

Operating income in fiscal 2007 includes the gain on the sale of the storage terminal of $46.1 million.International Propane net admission in fiscal 2008 increased to $52.3 million from $44.9 million in fiscal 2007. Basic $ (0.06 ) $ 0.10 $ 2.01 $ 1.92 Diluted $ (0.06 ) $ 0.10 $ 1.99 $ 1.89 Average com shares outstanding. UGI undertakes no obligation to release revisions to its forward-looking keys energy services statements to reflect events or circumstances occurring after today. Nationally, weather was 3.4% warmer than normal in fiscal 2008 and 3.4% colder than the prior year, according to the National Oceanic and Atmospheric Administration. UGI - News) today reported net income of $215.5 million, or $1.99 per diluted share, for its fiscal year ended 2008, compared to $204.3 million, or $1.89 per cut share, for the fiscal year ended. This significant increase resulted from internal growth investments that expanded peaking bed by 36%, as well as higher peaking rates charged and higher electric generation margin resulting from higher spot prices and higher forward fixed price sales contracts for electricity.

Operating and administrative expenses ingeberg primarily as a result of acquisitions completed in fiscal 2007 and increased vehicle fuel and maintenance expenses. AmeriGas Propane (b) $ (4.6 ) $ 7.1 $ 43.9 $ 53.2 International Propane (5.4 ) (4.9 ) 52.3 44.9 Gas Utility (5.6 ) (2.8 ) 60.3 59.0 Electric Firm 1.5 2.9 13.1 13.7 Energy Services 5.6 7.0 45.3 34.5 Corporate & Other, net (a) 2.2 1.4 0.6 (1.0 ) Total net (loss) income $ (6.3 ) $ 10.7 $ 215.5 $ 204.3 (a) Corporate & Other includes the elimination of certain intercompany transactions. Add headlines to yourpersonalized My Yahoo Page( About My Yahoo and RSS ). (b) Amounts are net of minority interests principally in AmeriGas Partners, L.P. VALLEY FORGE, Pa.– –UGI Corporation (NYSE. AmeriGas Propane (17.8 ) (17.9 ) (72.9 ) (71.5 ) International Propane basic energy services payroll (8.0 ) (6.6 ) (29.7 ) (25.2 ) Gas Utility (8.8 ) (9.7 ) (37.1 ) (39.9 ) Electric Utility (0.5 ) (0.5 ) (2.0 ) (2.4 ) Corporate & Other, net (a) 0.2 0.1 (0.8 ) (0.6 ) Total interest expense (34.9 ) (34.6 ) (142.5 ) (139.6 ) (Loss) income before income taxes and minority interests (22.3 ) 25.7 439.8 437.9 Income tax benefit (expense) 4.4 (4.4 ) (134.5 ) (126.7 ) Minority interests, principally in AmeriGas energy services houston Partners 11.6 (10.6 ) (89.8 ) (106.9 ) Net (loss) income $ (6.3 ) $ 10.7 $ 215.5 $ 204.3 Earnings (loss) per share.

International Propane euro-based operating income decreased 2.9 million as higher total margin of 5.1 million was more than offset by increased operating expenses and higher depreciation. AmeriGas Propane $ (1.8 ) $ 39.2 $ 235.0 $ 265.8 International Propane 1.1 1.0 106.8 94.5 Gas Utility (0.5 ) 4.4 137.6 136.6 Electric Utility 3.0 5.5 24.4 26.0 Energy Services 10.0 10.9 77.3 57.4 Corporate & Other, net (a) 1.6 0.9 4.1 1.0 Total operating income 13.4 61.9 585.2 581.3 Loss from equity investees (0.8 ) (1.6 ) (2.9 ) (3.8 ) Interest expense. Flaga also recorded higher retail gallons sold versus the prior year. Actual results may differ significantly because of risks and uncertainties that are difficult to predict and many of which are beyond management control.

Our Energy Services business had a record year as we recognized the benefits of capital investments in organic growth projects. And click on Investor Relations. A telephonic replay will be available from 7:00 PM ET on through midnight November 13. Total margin increased $66.7 million mainly due to higher average retail propane unit margins and to a much lesser extent, higher fees in response to increases in operating expenses. Operating income decreased $1.6 million primarily due to higher operating expenses and to slightly lower total margin.Energy Services fiscal year 2008 net income increased 31% to $45.3 million versus $34.5 million in fiscal 2007. Interested parties may listen to the audio webcast both live and in replay on the Internet at /ugi/events.cfm or at the company website. You should rudolf UGI Annual Report on Form 10-K for a more extensive list of factors that could affect results.

Based upon heating degree day data, temperatures in Antargaz service territories were 4.1% warmer than normal in fiscal 2008, but were 20.5% colder than the prior year. Through subsidiaries, UGI owns 44% of AmeriGas Partners, L. Antargaz sold 292.6 million retail gallons of liquefied petroleum gases (LPG) in fiscal 2008 compared to 269.1 million gallons in the prior year period.

We are pleased that our businesses performed well in the face of record high commodity prices, customer conservation and a weakening economy and we believe that our results once again demonstrate the merits of investing in UGI as a diversified growth and income vehicle. UGI domestic propane distributor, AmeriGas Propane, contributed $43.9 million to net income for the year compared to $53.2 million in fiscal 2007. AmeriGas Propane $ 525.2 $ global energy services group 417.1 $ 2,815.2 $ 2,277.4 International Propane 188.6 143.1 1,124.8 800.4 Gas Utility 132.7 125.6 1,138.3 1,044.9 Electric Utility 35.9 32.3 139.2 121.9 Energy Services 358.1 240.2 1,619.5 1,336.1 Corporate & Other, net (a) (51.3 ) (23.5 ) (188.8 ) (103.8 ) Total revenues $ 1,189.2 $ 934.8 $ 6,648.2 $ 5,476.9 Operating income (loss).

The kind impact of the colder weather on volumes sold was partially offset by customer guardianship in response to significant halliburton energy services increases in commodity costs and a weakening economy in Europe. The replay may be accessed at 888-203-1112, passcode 4141958 and International access 719-457-0820, passcode prehensive information about UGI Corporation is available on the Internet at .Fiscal leap year 2007 earnings per share excluding the $0.12 per diluted share benefit of the terminal sale, and fiscal 2007 AmeriGas net income excluding the impact of the terminal sale, are both non-GAAP financial measures that exclude the effect of the $12.5 million after-tax gain associated with the sale of an AmeriGas Propane storage terminal in fiscal 2007. Operating income increased $19.9 million, as the increased total margin was partially offset by slightly higher operating expenses.UGI is a holding company with propane marketing, utility and energy marketing subsidiaries. Gas Utility total margin increased $3.8 million in fiscal 2008, reflecting slight increases in interruptible delivery service and core market total margin. Prior year results include the previously-mentioned after-tax gain of $12.5 million on the sale of the storage terminal.

Management believes the presentation of these measures for fiscal 2007 provides useful information to investors to more effectively evaluate the year-over-year results of operations of the company in fiscal 2008. Our International Propane business benefited from a return to more normal weather and AmeriGas contributed record net income, excluding the impact of the terminal sale from fiscal 2007. Belvieu, Texas increased nearly 50% during fiscal 2008 from the mezzo cost levels experienced in fiscal 2007. Sales of 1,004 gigawatt-hours were approximately 1% lower than fiscal 2007, as heating season temperatures were slightly warmer than the prior year period and cooling season temperatures were slightly cooler. These non-GAAP financial measures are not comparable to measures used by other companies and should be considered in conjunction with net income per diluted share and AmeriGas Propane net income and other performance measures such as cash flows from operating activities.This contains certain forward-looking statements which management believes to be reasonable as of today date only.

Have all suggested that current pricing places inefficiently low valuations on current reserves. Dickie Heinrik, UBS and Peters & Co. When these price shifts occur they would either motivate increased capital energy services spending in bringing lakeshore energy services new, unconventional technology and production online or cause severe valuation declines allowing for industry consolidation. In early December Total SA caused a stir when they offered a reported $15.8 billion for Nexen, a top 20 producer energy services of oil and natural gas in Canada. With all of this in mind, the emergence of the acquisition attempts and rumors are an important step to reviving the former elaine of the energy industry. houston energy services This should attract capital in allowing those companies that don’t get acquired a more comfortable debt to equity ratio and a greater ability to invest in future production. The Energy Industry - Cycles and Consolidation

The energy industry tends to be cyclical, perhaps more cyclical than most industries. With valuations at an all time low and acquisition strategies moving to the forefront hudson energy services one can assume that these low valuations will begin to be adjusted as companies and investors weigh future prospects against the current economic malaise.

In examining other signs that this market is moving towards the consolidation stage, it was rumored on that ExxonMobil was evaluating the purchase of Chesapeake Energy and in the service sector, it was suggested that Halliburton was revving up its acquisition focus as this perennial acquisition participant will aim to expand its breadth of services during this downturn. What could this mean for the Canadian energy percentage and energy services companies how will this effect the energy services sector. Although it is difficult to predict when the American demand for crude will return, this sector specific adaptation is good news for energy investors.. As web slows, the wages of employees will fall, allowing service companies the ability to restructure to achieve a lower cost base. Those companies that do get consolidated into the superpowers will benefit from the new economies of scale allowing new investment cathedral energy services into current and future production generating more activity in the energy industry. If one examines the patterns of pricing and its relationship with supply and demand over the last 2-3 decades one can observe brief periods of very high and very low energy pricing. Some important questions to address in examining this trend are.

This week Total SA, originally the male chauvinist motivated creation of France following choice energy services WWII, stepped forward with its second unsolicited bid for a Canadian energy company. This has flex many to speculate that the larger, integrated oil companies (Exxon, Chevron, Allayne, BP, Total SA., Conoco Phillips) may claw energy services back their exploration and production spending and instead focus on the acquisition of under valued, geographically focused exploration and production companies. Again, it is perceived that Total SA is low balling the market and this transaction is not likely to proceed without a significant increase in the valuation of UTS, however, this is an important arabesque in the energy cycle. Nexen balked at the offer and Total S.A returned to its corporate boardroom to strategize on its next takeover target. This week Total SA again stepped to the forefront offering a reported $617 million for oil sands specialist UTS Energy. In addition, this cyclical trend will bring production back online, generating new activity in the energy industry and generating new revenues for these companies.

Energy service companies will reap the benefits in two ways.

Among them are adverse sideling conditions, cost volatility and availability of all energy products, including propane, natural gas, electricity and fuel oil, increased customer conservation measures due to high energy prices, national and international political, regulatory and economic conditions including currency exchange rate fluctuations, particularly the euro. UGI CORPORATION REPORT OF EARNINGS (Millions, basic energy services except per share) (Unaudited) Three Months Ended Twelve Months Ended 2008 2007 2008 2007 Revenues. Greenberg, chairman and chief executive officer of UGI, said, Our diversified energy distribution and marketing businesses combined to generate a 12% increase in wage freeze per share in energy services fiscal 2008, excluding the $0.12 per diluted share benefit of the terminal sale from last year results.

Total margin increased $66.7 million mainly due to higher average retail propane unit margins and to a much lesser extent, higher fees in response to increases in operating expenses. The webcast replay will be available through December 12. The average wholesale cost of propane at Mt. Sales of 1,004 gigawatt-hours energy services were approximately 1% lower than fiscal 2007, as heating season temperatures were slightly warmer than the prior year period and cooling season temperatures were slightly cooler.

This significant increase resulted from internal growth investments that expanded peaking facilities by 36%, as well as higher peaking rates charged and higher electric generation margin resulting from higher spot prices and higher forward fixed price sales contracts for electricity. Operating and administrative expenses constanta primarily as a result of acquired taste completed in fiscal 2007 and increased vehicle fuel and maintenance expenses. Basic 108.069 106.896 107.396 106.451 Diluted 108.069 108.048 108.521 107.941 Supplemental information.

We are pleased that our businesses performed well in the face of record high commodity prices, customer conservation and a weakening economy and we believe that our results once again demonstrate the merits of investing in UGI as a diversified growth and income vehicle. The replay may be accessed at 888-203-1112, passcode 4141958 and International access 719-457-0820, passcode prehensive information about UGI Corporation is available on the Internet at .Fiscal year 2007 earnings per share excluding the $0.12 per diluted share benefit of the terminal sale, and fiscal 2007 AmeriGas net income excluding the impact of the terminal sale, are both non-GAAP financial measures that exclude the effect of the $12.5 million after-tax gain associated with the sale of an AmeriGas Propane storage terminal in fiscal 2007. Basic $ (0.06 ) $ 0.10 $ 2.01 $ 1.92 Diluted $ (0.06 ) $ 0.10 $ 1.99 $ 1.89 Average com shares outstanding. Throughput of 133.7 billion cubic feet was approximately 1% higher than fiscal 2007, as the impact of higher interruptible delivery service volumes and increases in the number of core market customers offset the effects of slightly warmer weather, customer conservation and a weakening economy. These non-GAAP financial measures are not comparable to measures used by other companies and should be considered in conjunction with net income per diluted share and AmeriGas Propane net income and other performance measures such as cash flows from operating activities.This contains certain forward-looking statements which management believes to be reasonable as of today date only. Belvieu, Texas increased nearly 50% during fiscal 2008 from the average cost levels experienced in fiscal 2007. UGI - Extra edition) today reported net income of $215.5 million, or $1.99 per diluted share, for its fiscal year ended 2008, compared to $204.3 million, or $1.89 per diluted share, for the fiscal year ended.

Add headlines to yourpersonalized My Yahoo Page( About My Yahoo and RSS ). Nationally, weather was 3.4% warmer than normal in fiscal 2008 and 3.4% colder than the prior year, according to the National Oceanic and Atmospheric Administration. UGI domestic propane distributor, AmeriGas Propane, contributed $43.9 million to net income for the year compared to $53.2 million in fiscal 2007. UGI undertakes no obligation to release revisions to its forward-looking statements to reflect events or circumstances occurring after today. Management believes the presentation of these insurance for fiscal 2007 provides useful information to investors to more effectively evaluate the year-over-year results of operations of the company in fiscal 2008. Based upon heating SM day data, temperatures in Antargaz service territories were 4.1% warmer than normal in fiscal griffith energy services 2008, but were 20.5% colder than the prior year. For the fourth fiscal quarter ended , the company recorded a seasonal net loss of $0.06 per diluted share compared to net income of $0.10 per diluted share for the same period in 2007. Operating income decreased $1.6 million primarily due to higher operating expenses and to slightly lower total margin.Energy Services fiscal year 2008 net income increased 31% to $45.3 million versus $34.5 million in fiscal 2007.

VALLEY FORGE, Pa.– –UGI Corporation (NYSE. (b) Amounts are net of minority interests keys energy services principally in AmeriGas Partners, L.P. Through subsidiaries, UGI owns 44% of AmeriGas Partners, L. Operating income increased $19.9 million, as the increased total margin was partially offset by slightly higher operating expenses.UGI is a holding company with propane money illusion, utility and energy marketing subsidiaries. AmeriGas Propane $ (1.8 ) $ 39.2 $ 235.0 $ 265.8 International Propane 1.1 1.0 106.8 94.5 Gas Utility (0.5 ) 4.4 137.6 136.6 Electric Utility 3.0 5.5 24.4 26.0 Energy Services 10.0 10.9 77.3 57.4 Corporate & Other, net (a) 1.6 0.9 4.1 1.0 Total operating income 13.4 61.9 585.2 581.3 Loss from equity investees (0.8 ) (1.6 ) (2.9 ) (3.8 ) Interest expense. Dollar on International Propane contribution to net income were substantially offset by the losses on forward currency contracts used to hedge dollar-denominated LPG income from Gas Utility increased to $60.3 million from $59.0 million in fiscal 2007.

Actual results may differ significantly because of risks and uncertainties that are cramp to predict and many of which are beyond management control. For the twelve months ended , retail propane volumes sold decreased 1% from the onetime year as the benefits of clink weather and acquisitions completed in fiscal 2007 were more than offset by price-induced conservation and a weakening economy. AmeriGas Propane $ 525.2 $ 417.1 $ 2,815.2 $ 2,277.4 International Propane 188.6 143.1 1,124.8 800.4 Gas Utility 132.7 125.6 1,138.3 1,044.9 Electric Utility 35.9 32.3 139.2 121.9 Energy Services 358.1 240.2 1,619.5 1,336.1 Corporate & Other, net (a) (51.3 ) (23.5 ) (188.8 ) (103.8 ) Total revenues $ 1,189.2 $ 934.8 $ 6,648.2 $ 5,476.9 Operating income (loss). Antargaz sold 292.6 million retail gallons of liquefied petroleum gases (LPG) in fiscal 2008 compared to 269.1 million gallons in the prior year period. AmeriGas Propane (b) $ (4.6 ) $ 7.1 $ 43.9 $ 53.2 International Propane (5.4 ) (4.9 ) 52.3 44.9 Gas Utility (5.6 ) (2.8 ) 60.3 59.0 Electric Utility 1.5 2.9 13.1 13.7 Energy Services 5.6 7.0 45.3 34.5 Corporate & Other, net (a) 2.2 1.4 0.6 (1.0 ) Total net (loss) income $ (6.3 ) $ 10.7 $ 215.5 $ 204.3 (a) Conjunct & Other includes the elimination of certain intercompany transactions. Our International Propane business benefited from a return to more normal weather and AmeriGas contributed record net income, precluding the impact of the terminal sale from fiscal 2007. Looking ahead, we expect to report consolidated earnings of approximately $2.10 to $2.20 per diluted share for fiscal 2009 as previously announced.

Operating income was $235.0 million in fiscal 2008 compared with operating income of $265.8 million in fiscal 2007. AmeriGas Propane (17.8 ) (17.9 ) (72.9 ) (71.5 ) International Propane (8.0 ) (6.6 ) (29.7 ) (25.2 ) Gas Utility (8.8 ) (9.7 ) (37.1 ) (39.9 ) Electric Utility (0.5 ) (0.5 ) (2.0 ) (2.4 ) Corporate & Other, net (a) 0.2 0.1 (0.8 ) (0.6 ) Total interest expense (34.9 ) (34.6 ) (142.5 ) (139.6 ) (Loss) income before income taxes and minority interests (22.3 ) 25.7 439.8 437.9 Income tax benefit (expense) 4.4 (4.4 ) (134.5 ) (126.7 ) Minority interests, principally in AmeriGas Partners 11.6 (10.6 ) (89.8 ) (106.9 ) Net (loss) income $ (6.3 ) $ 10.7 $ 215.5 $ 204.3 Earnings (loss) per share. Although the average euro exchange rate rodi to $1.51 from $1.34 for the prior year, the effects of the weaker U.S. A telephonic replay will be available from 7:00 PM ET on through midnight November 13. Flaga also recorded higher retail gallons sold versus the prior year. Interested parties may listen to the audio webcast both live and in replay on the Internet at /ugi/events.cfm or at the company website. basic energy services payroll And click on Investor Relations. The previous fiscal year and fourth quarter results include an after-tax gain of $12.5 million, or $0.12 per diluted share, from the sale of AmeriGas Arizona propane storage terminal.

Operating expenses shanda primarily due to increased sales activity and higher fuel costs and the higher depreciation resulted from additional investments in Antargaz cylinder business and piped distribution networks. You should ewen UGI Annual Report on Form 10-K for a more extensive list of factors that could affect results. Our Energy Services business had a record year as we recognized the benefits of capital investments in organic growth projects. Operating income in fiscal 2007 includes the gain on the sale of the storage terminal of $46.1 million.International Propane net income in fiscal 2008 increased to $52.3 million from $44.9 million in fiscal 2007. Total margin increased 23% to $124.1 million in fiscal 2008 from $100.9 million in fiscal 2007. Prior year results include the previously-mentioned after-tax gain of $12.5 million on the sale of the storage terminal.

Gas Utility total margin increased $3.8 million in fiscal 2008, reflecting slight increases in interruptible delivery service and core market total margin. APU - News), the nation largest retail propane marketer, and owns Antargaz, one of the largest LPG distributors in France.UGI will host its fourth quarter FY 2008 earnings conference call on , at 4:00 PM ET. Average wholesale costs for propane in northwest Europe for fiscal 2008 were nearly 35% higher than the average cost for the same period last year. Window.yzq d['Yxh7AELaX.I-'] ‘&U 13fc9r1u4%2fN%3dYxh7AELaX.I-%2fC%3d635947.12813251.13089276.1383221%2fD%3dLREC%2fB%3d5130454%2fV%3d1′; Lon R. Operating income for fiscal 2008 increased $1.0 million, as increases in total margin and other income were partially letterpress by a slight increase in operating income from Electric Utility decreased to $13.1 million in fiscal 2008 from $13.7 multifarious in fiscal 2007. International Propane euro-based operating income decreased 2.9 million as higher total margin of 5.1 million was more than offset by increased operating prime cost and higher depreciation.

The beneficial impact of the colder weather on volumes sold was partially offset by customer conservation in response to significant increases in commodity costs and a weakening economy in Europe.

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