Enron Corp. - University of California | Office of The President

high-growth new businesses that capitalizes on our core skills, as demonstrated by
the early success of our new broadband services business ...."
197. On 1/18/00, Enron held a conference call for analysts and investors to discuss Enron's
99 results and its business. On 1/20/99, Enron executives Skilling, Koenig, Causey and Fastow also
appeared at the Enron Analyst Conference in Houston. In the conference call and in follow-up
conversations with analysts and in formal presentations and break-out sessions at the analyst
conference, they stated:
• Enron had a tremendous year in 1999. Its wholesale energy business led the
strong financial results continuing high levels of both profitability and growth. A
great year for the wholesale business. Enron's retail energy services business had
a watershed year. It turned profitable on schedule in the 4thQ this year and more
than doubled new outsource contracts during the year. A great quarter.
• In addition, Enron laid the foundation for its new broadband services business
which played directly to Enron's fundamental strengths and capabilities.
• EES had captured the leading position in the energy outsource market and was
extremely well positioned for rapid growth moving forward. Enron was
forecasting strong profits for the full year 00.
• In summary, Enron was very pleased with the 4thQ and full year financial results.
Enron was also very excited about the continuing positive business developments
in the Company.
• Enron was well positioned now in the telecommunications business to continue
increasing its large share of these markets. Enron had the technology, products,
services and market knowledge to further enhance these network businesses and
was confident that its strong performance would continue increasing profitability
and expanding returns to shareholders. Just a great year for Enron and Enron
was looking forward to a replay of a great year in the year 00.
• 00 would result in:
• Continued strong growth in the core WEOS business.
• Break-out performance from EES.
• Rapid development of EBS.
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