Dominion's First-Quarter Earnings Will Exceed Expectations
Earnings Release and Conference Call Scheduled
for April 16, 2003
RICHMOND, Va. - Dominion (NYSE: D) today announced that first-quarter
operating earnings will exceed the current First Call analyst consensus estimate
of $1.24 per share. Reported earnings per share, including the net positive
impact of certain accounting changes and other items, will be higher than operating
earnings per share.
Dominion will release earnings on April 16, 2003 and host
a conference call for investors at 10 a.m. EDT that day to discuss earnings
in detail. Members of the media are also invited to listen.
Domestic investors who wish to participate in the conference
call should dial 877-241-5946. International investors should call 706-643-0540.
Participants should dial in 5 to 10 minutes prior to the scheduled start time.
A live web cast of the conference call will be available on
the company's investor information page at www.dom.com/investors.
A replay of the conference call will be available from approximately
11 a.m. EDT April 16 through 11 p.m. EDT April 23. Domestic investors may access
the recording by dialing 800-642-1687. International callers should dial
706-645-9291 to access the recording. The conference ID for the replay
is 9631248. A replay of the conference call also will be available on
the company's investor information home page by the end of the day April 16.
Dominion is one of the nation's largest producers of energy,
with an energy portfolio of about 24,000 megawatts of generation, 6.1 trillion
cubic feet equivalent of proved natural gas reserves and 7,900 miles of natural
gas transmission pipeline. Dominion also operates the nation's largest underground
natural gas storage system with more than 960 billion cubic feet of storage
capacity and serves 5 million retail energy customers in nine states. In addition,
Dominion owns a managing equity interest in Dominion Fiber Ventures LLC, owner
of Dominion Telecom. For more information about Dominion, visit the company's
web site at www.dom.com.
This release contains forward-looking statements including
our expectations for 2003 earnings and for future annual growth rates that are
subject to various risks and uncertainties. Discussion of factors that could
cause actual results to differ materially from management's projections, forecasts,
estimates and expectations may include factors that are beyond the company's
ability to control or estimate precisely, such as estimates of future market
conditions, estimates of proved and unproved reserves and the behavior of other
market participants. Other factors include, but are not limited to, weather
conditions, economic conditions in the company's service area, fluctuations
in energy-related commodity prices, changes to rating agency requirements and
ratings, changing financial accounting standards, trading counterparty credit
risks, risks related to energy trading and marketing, risks associated with
successfully executing the telecommunications business plan and other uncertainties.
Other risk factors are detailed from time to time in the company's Securities
& Exchange Commission filings.
