The Laclede Group, Inc. is a public utility holding company committed to providing reliable natural gas service through its regulated core utility operations while engaging in non-regulated activities that provide opportunities for sustainable growth. Its primary subsidiary -- Laclede Gas Company -- is the largest natural gas distribution utility in Missouri, serving more than 632,000 residential, commercial, and industrial customers in St. Louis and surrounding counties of eastern Missouri. Its principal non-regulated subsidiary is Laclede Energy Resources, Inc. (LER), a natural gas marketer located in St. Louis, Missouri.
Laclede Group's strategy includes efforts to stabilize and continually improve the performance of its core Utility and a measured pursuit of growth opportunities that complement the Utility business. As for the Utility, mitigating the impact of weather fluctuations on Laclede Gas customers while improving the ability to recover its authorized distribution costs and return remains a fundamental component of the Laclede Group strategy. That strategy also calls for continual development of the non-regulated component of our business in a measured and manageable way to achieve sustainable growth. LER continues to focus on growing its markets on a long-term and sustainable basis by providing both on-system Utility transportation customers and customers outside of Laclede Gas' traditional service area with another choice in capable and reliable unregulated natural gas suppliers.
For fiscal 2007, consolidated earnings were $49.8 million, an increase of $0.8 million, or approximately 2%, over earnings reported for fiscal 2006. Fiscal 2007 represents the Company's fifth consecutive year of overall record earnings. Basic earnings per share were $2.32 for fiscal 2007 as compared to $2.31 the prior year.
