Black Hills Corporation Anticipates Record First Quarter Earnings; EPS Expected to Be in the Range of $1.30 to $1.35

Apr 02, 2001, 01:00 ET from Black Hills Corporation

    RAPID CITY, S.D., April 2 /PRNewswire/ --
     Black Hills Corporation (NYSE:   BKH) today announced that earnings for the
 first quarter of 2001 are expected to reach record levels.  Earnings per share
 for the quarter ended March 31, 2001 are anticipated to be approximately
 $1.30 to $1.35, compared to $0.42 per share reported for the same quarter of
 2000.
     Higher earnings in 2001 were primarily due to the continued strong
 performance of the wholesale gas marketing business and increased wholesale
 electric sales.  Earnings for the Company's Independent Energy business group
 are expected to exceed the electric utility's earnings for the quarter ended
 March 31, 2001.  A portion of the increased earnings can be attributed to
 continued unusual conditions in western gas and electricity markets.
     The Company also indicated its Communications business unit would report
 continued losses in the first quarter due to capital costs and related
 financing costs.
     Black Hills Corporation expects to report its financial results for the
 first quarter of 2001 on or about May 4, 2001.
     Black Hills Corporation ( http://www.blackhillscorp.com ) is a diverse
 energy and communications company with three business groups: Black Hills
 Energy Ventures, the independent energy unit which generates electricity and
 produces and markets natural gas, oil and coal; Black Hills Power, an electric
 utility serving western South Dakota, northeastern Wyoming and southeastern
 Montana; and Black Hills FiberCom, a broadband communications company offering
 bundled telephone, high speed internet and cable entertainment services.
     The above information includes "forward-looking statements" as defined by
 the Securities and Exchange Commission.  These statements concern the
 Company's plans, expectations and objectives for future operations.  All
 statements, other than statements of historical facts, included above that
 address activities, events or developments that the Company expects, believes
 or anticipates will or may occur in the future are forward-looking statements.
 The words believe, intend, anticipate, estimate, aim, project and similar
 expressions are also intended to identify forward-looking statements.  These
 forward-looking statements may include, among others, such things as expansion
 and growth of the Company's business and operations; future financial
 performance; future acquisition and development of power plants; future
 production of coal, oil and natural gas; reserve estimates; future
 communications customers; and business strategy.  These forward-looking
 statements are based on assumptions which the Company believes are reasonable
 based on current expectations and projections about future events and industry
 conditions and trends affecting the Company's business.  However, whether
 actual results and developments will conform to the Company's expectations and
 predictions is subject to a number of risks and uncertainties which could
 cause actual results to differ materially from those contained in the
 forward-looking statements, including the following factors: prevailing
 governmental policies and regulatory actions with respect to allowed rates of
 return, industry and rate structure, acquisition and disposal of assets and
 facilities, operation and construction of plant facilities, recovery of
 purchased power and other capital investments, and present or prospective
 wholesale and retail competition; changes in and compliance with environmental
 and safety laws and policies; weather conditions; population growth and
 demographic patterns; competition for retail and wholesale customers; pricing
 and transportation of commodities; market demand, including structural market
 changes; changes in tax rates or policies or in rates of inflation; changes in
 project costs; unanticipated changes in operating expenses or capital
 expenditures; capital market conditions; counterparty credit risk;
 technological advances; competition for new energy development opportunities;
 and legal and administrative proceedings that influence the Company's business
 and profitability. Any such forward-looking statements should be considered in
 conjunction with Black Hills Corporation's most recent annual report on Form
 10-K and its interim quarterly reports on Form 10-Q on file with the
 Securities and Exchange Commission. New factors that could cause actual
 results to differ materially from those described in forward-looking
 statements emerge from time to time, and it is not possible for the Company to
 predict all such factors, or to the extent to which any such factor or
 combination of factors may cause actual results to differ from those contained
 in any forward-looking statement.  The Company assumes no obligation to update
 publicly any such forward-looking statements, whether as a result of new
 information, future events, or otherwise.
 
 

SOURCE Black Hills Corporation
    RAPID CITY, S.D., April 2 /PRNewswire/ --
     Black Hills Corporation (NYSE:   BKH) today announced that earnings for the
 first quarter of 2001 are expected to reach record levels.  Earnings per share
 for the quarter ended March 31, 2001 are anticipated to be approximately
 $1.30 to $1.35, compared to $0.42 per share reported for the same quarter of
 2000.
     Higher earnings in 2001 were primarily due to the continued strong
 performance of the wholesale gas marketing business and increased wholesale
 electric sales.  Earnings for the Company's Independent Energy business group
 are expected to exceed the electric utility's earnings for the quarter ended
 March 31, 2001.  A portion of the increased earnings can be attributed to
 continued unusual conditions in western gas and electricity markets.
     The Company also indicated its Communications business unit would report
 continued losses in the first quarter due to capital costs and related
 financing costs.
     Black Hills Corporation expects to report its financial results for the
 first quarter of 2001 on or about May 4, 2001.
     Black Hills Corporation ( http://www.blackhillscorp.com ) is a diverse
 energy and communications company with three business groups: Black Hills
 Energy Ventures, the independent energy unit which generates electricity and
 produces and markets natural gas, oil and coal; Black Hills Power, an electric
 utility serving western South Dakota, northeastern Wyoming and southeastern
 Montana; and Black Hills FiberCom, a broadband communications company offering
 bundled telephone, high speed internet and cable entertainment services.
     The above information includes "forward-looking statements" as defined by
 the Securities and Exchange Commission.  These statements concern the
 Company's plans, expectations and objectives for future operations.  All
 statements, other than statements of historical facts, included above that
 address activities, events or developments that the Company expects, believes
 or anticipates will or may occur in the future are forward-looking statements.
 The words believe, intend, anticipate, estimate, aim, project and similar
 expressions are also intended to identify forward-looking statements.  These
 forward-looking statements may include, among others, such things as expansion
 and growth of the Company's business and operations; future financial
 performance; future acquisition and development of power plants; future
 production of coal, oil and natural gas; reserve estimates; future
 communications customers; and business strategy.  These forward-looking
 statements are based on assumptions which the Company believes are reasonable
 based on current expectations and projections about future events and industry
 conditions and trends affecting the Company's business.  However, whether
 actual results and developments will conform to the Company's expectations and
 predictions is subject to a number of risks and uncertainties which could
 cause actual results to differ materially from those contained in the
 forward-looking statements, including the following factors: prevailing
 governmental policies and regulatory actions with respect to allowed rates of
 return, industry and rate structure, acquisition and disposal of assets and
 facilities, operation and construction of plant facilities, recovery of
 purchased power and other capital investments, and present or prospective
 wholesale and retail competition; changes in and compliance with environmental
 and safety laws and policies; weather conditions; population growth and
 demographic patterns; competition for retail and wholesale customers; pricing
 and transportation of commodities; market demand, including structural market
 changes; changes in tax rates or policies or in rates of inflation; changes in
 project costs; unanticipated changes in operating expenses or capital
 expenditures; capital market conditions; counterparty credit risk;
 technological advances; competition for new energy development opportunities;
 and legal and administrative proceedings that influence the Company's business
 and profitability. Any such forward-looking statements should be considered in
 conjunction with Black Hills Corporation's most recent annual report on Form
 10-K and its interim quarterly reports on Form 10-Q on file with the
 Securities and Exchange Commission. New factors that could cause actual
 results to differ materially from those described in forward-looking
 statements emerge from time to time, and it is not possible for the Company to
 predict all such factors, or to the extent to which any such factor or
 combination of factors may cause actual results to differ from those contained
 in any forward-looking statement.  The Company assumes no obligation to update
 publicly any such forward-looking statements, whether as a result of new
 information, future events, or otherwise.
 
 SOURCE  Black Hills Corporation