Earnings Call Excerpt
Dominion Resources Inc (D)
Q4 2005 Earnings Conference Call
January 26th 2006, 10:00 AM.
Executives:
Thomas F. Farrell, President and Chief Executive Officer
Thomas N. Chewning Executive Vice President and Chief Financial Officer
Duane C. Radtke EVP and EVP, Consolidated Natural Gas Company
Analysts:
Greg Gordon
Faisel Kahn
Steven Fleishman, Merrill Lynch
Dan Eggers, Credit Suisse First Boston
Paul Fremont, Jefferies
David Schanzer, Janney Montgomery Scott
Presentation
Operator
Good morning ladies and gentlemen, and welcome to Dominion Fourth Quarter Earnings Conference Call. We now have Mr. Tom Chewning Dominion Executive Vice President and Chief Financial Officer in conference. Please be aware that each of your line is in listen only mode. At the conclusion of Mr. Chewning’s presentation, we will open the floor for question. At that time instructions will be given as procedure to follow, if you would like ask a question. I’ll now turn the conference over to you Mr. Tom Chewning, sir you may begin.
Thomas N. Chewning, Executive Vice President and Chief Financial Officer
Good morning and welcome to Dominion fourth quarter 2005, earnings call. Joining me this morning are Tom Farrell our President and CEO and other members of our management team. This morning I’ll first review actual fourth quarter and full 2005 earnings. Tom Farrell will give his review of 2005 operations, as well as offer his perspective on Dominion's focus for 2006. Following Tom's remarks, I will provide 2006 earnings guidance and reconcile the 24 month period from January 1st, 2005, to December 31st, 2006, to the outlook we had discussed during our last call with you on November 3rd, 2005. Before answering your questions, we will offer our current perspective on the drivers that will create a significant uplift in Dominion's earnings in 2007 and beyond.
Concurrent with our earnings announcement this morning, we've published several supplemental schedules on our website. We ask that you refer to those exhibits for certain historical quantitative results as well as earnings guidance detail. From time to time during this call we will refer to certain schedules included in our quarterly earnings release or to pages from our 2006 earnings guidance kit, both of which were posted this morning to Dominion's website. That website address is www.dom.com/investors
Let me start by providing the usual cautionary language. The earnings release and other matters that may be discussed on the call today contain forward- looking statements and estimates that are subject to various risks and uncertainties. Please refer to our SEC filings, including our most recent annual report on Form 10K and quarterly report on Form 10Q, for discussion of factors that may cause results to differ from management's projections, forecasts, estimates, and expectations. Also on this call, we will discuss the measures about our company's performance that differs from those recognized by GAAP. You can find a reconciliation of these non-GAAP measures to GAAP on our Investor Relations website under "GAAP Reconciliation."
At this time we will open the call for questions. If you would like to ask a question please press the ?*
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