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Business 2003 P42



Southern Co. announces first quarter earnings
Southern Co. has reported earnings of $298 million, or 41 cents per share, in the first quarter.

Profits lower at Malaysia's TNB
Malaysian national utility Tenaga Nasional Bhd (TNB) has posted a net profit of RM705.9m ($185.76m) for the six months ended Feb 28, 2003, down 46.6 per cent from RM1.32bn in the same period in the previous year due to the stronger Japanese yen.

Kepco reports higher costs and lower profits
First quarter figures from Korea Electric Power Corp., the state-owned utility showed a fall of 34 per cent as a result of higher power costs. Reported profits for the period were 517.5 bn won ($423.5m) with revenues rising 12 per cent to 5.612 tn won, helped by a 9 per cent rise in electricity sales.

Ron F. Green joins USEC to direct American Centrifuge commercialization program
Ron F. Green has joined USEC Inc. as a senior vice president to lead the demonstration and deployment of USEC's American Centrifuge, the Company's next generation uranium enrichment technology.

El Paso Electric announces first quarter financial results
El Paso Electric has reported net income before the cumulative effect of a change in accounting principle for the first quarter 2003 of $2.1 million, or $0.04 basic and diluted income per share.

Exelon announces management appointments, business strategy
Exelon Corp. has announced an aggressive effort to revamp its management and business strategy in the hopes that it will become the best and most consistently profitable electricity and gas company in the U.S.

Xcel Energy reports strong utility results for first quarter
Xcel Energy Inc.'s preliminary earnings for first quarter of 2003 were $192 million, or $0.48 per share, including results of subsidiary NRG Energy, compared with $102 million, or $0.29 per share, for the same period in 2002.

Elcom receives funding via private placement
Elcom International, Inc., an international provider of remotely-hosted eProcurement and private eMarketplace solutions, announced that it has closed a private placement of approximately $920,000 (resulting in approximately $675,000 in net cash proceeds to the company) of 10% Senior Convertible Debentures to accredited investors.

AEP reports first-quarter ongoing EPS of $0.61, an increase from 2002
AEP, boosted by a significant period-to-period gain in system sales, reported 2003 first-quarter ongoing earnings of $0.61 per share, a $0.02 per share improvement over the same period last year.

PPL reports increased first-quarter results compared to a year ago
PPL Corp. has announced increases in both reported earnings and earnings from core operations for the first quarter of 2003 compared to a year ago.

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