Item 2.02 Results of Operations and Financial Condition
On October 28, 2009, UniSource Energy Corporation (“UniSource Energy”) issued a press release
announcing earnings for the quarter and nine months ended September 30, 2009 for UniSource Energy
and Tucson Electric Power Company. A copy of the press release is attached hereto as Exhibit 99.1.
UniSource Energy also posted supplemental information accessible from a link on its website,
www.uns.com. A copy of the supplemental information is attached hereto as Exhibit 99.2.
The Company’s press releases and other communications may include certain non-Generally
Accepted Accounting Principles (GAAP) financial measures. A “non-GAAP financial measure” is defined
as a numerical measure of a company’s financial performance, financial position or cash flows that
excludes (or includes) amounts that are included in (or excluded from) the most directly comparable
measure calculated and presented in accordance with GAAP in the Company’s financial statements.
Non-GAAP financial measures utilized by the Company include presentations of revenues,
operating expenses, operating income and earnings (loss) per share. The Company uses these non-GAAP
measures to evaluate the operations of the Company. Certain non-GAAP financial measures utilized by
the Company exclude: the impact of non-recurring items: the effect of accounting changes or
adjustments; expenses that are reimbursed by third parties; and other items. The Company’s
management believes that these non-GAAP financial measures provide useful information to investors
by removing the effect of variances in GAAP reported results of operations that are not indicative
of fundamental changes in the earnings or cash flow capacity of the Company’s operations.
Management also believes that the presentation of the non-GAAP financial measures is largely
consistent with its past practice, as well as industry practice in general, and will enable
investors and analysts to compare current non-GAAP measures with non-GAAP measures with respect to
prior periods.
Item 9.01 Financial Statements and Exhibits
Exhibit 99.1
|
UniSource Energy Corporation Press Release, dated October 28, 2009. | |
Exhibit 99.2
|
Supplemental earnings information posted on UniSource Energy’s website, dated October 28, 2009. |
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, each registrant has duly
caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
Date: October 28, 2009
|
UNISOURCE ENERGY CORPORATION | |
| (Registrant) | ||
| Kevin P. Larson | ||
| Kevin P. Larson | ||
| Senior Vice President and Principal | ||
| Financial Officer | ||
Date: October 28, 2009
|
TUCSON ELECTRIC POWER COMPANY | |
| (Registrant) | ||
| Kevin P. Larson | ||
| Kevin P. Larson Senior Vice President and Principal Financial Officer |
EXHIBIT INDEX
| Exhibit No. | Description | |
Exhibit 99.1
|
UniSource Energy Corporation Press Release, dated October 28, 2009. | |
Exhibit 99.2
|
Supplemental earnings information posted on UniSource Energy’s website, dated October 28, 2009. |