WESTERN RESOURCES POSTS RECORD 2nd-QUARTER GAINS
Western Resources announces second-quarter 2000 earnings of $42.2 million, or 61 cents per common share, vs. $18.2 million, or 27 cents per share, for the same period in 1999. The previous second-quarter record for earnings-per-share was set in 1993 at 47 cents. The released numbers also show record year-to-date earnings of $1.49 per share, up from 58 cents per share in the same period last year. The previous record for the first six months of the year was $1.46 per share in 1994. The conglomerate’s Westar Capital segment—which includes monitored services companies, such as Protection One, Protection One Europe, Paradigm Direct and Guardian Intl.—earned 23 cents per common share, compared to 16 cents in 1999.
The company reports that increased noncash expenses in its monitored services segment reflecting changes in amortization policies were offset, in part, by extraordinary gains on early debt extinguishment at Pro One. Western Resources is a consumer services company with interests in monitored services and energy and total assets of $8 billion. Pro One has more than 1.4 million security subscribers in 48 states.
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