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

Retail Energy Services: ... Enron Energy Services reported $103 million of
recurring IBIT during 2000 compared to a loss of $68 million in 1999. Revenues
increased 155 percent to $4.6 billion in 2000. Enron Energy Services executed $16.1
billion of new contracts during 2000, representing customers' future expenditures for
natural gas, power and energy services, which is almost double the $8.5 billion
contracting level in 1999.... Major long-term energy management agreements
announced during 2000 include new contracts with Chase, IBM, Quebecor,
Starwood Hotels and Sonoco and expanded contracts with Compaq and Simon
Properties.
* * *
Broadband: ... Other positive developments included the sale of excess dark
fiber to balance capacity in key regions, increases in the value of Enron's
broadband investments and successful monetization of a portion of Enron's
broadband delivery platform.
... Enron significantly advanced its broadband intermediation activities during
the year, executing over 320 transactions .... Also during 2000, Enron completed
initial rollout in select areas of four U.S. markets of its content-on-demand
product, which delivers TV-quality video for mass market viewing of premium
broadband content.
282. On 1/21/01, Enron held a conference call for analysts and investors to discuss Enron's
00 results and its business. On 1/25/01, Enron executives Skilling, Koenig, Causey, Kean and
Fastow appeared at the Enron Annual Investors Conference in Houston. During the conference call
– and in follow-up conversations with analysts and formal presentations and break-out sessions at
the Investors Conference – they stated:
• For the full year 00, Enron reported total revenues of $101 billion. It broke the
$100 billion mark, a 25% increase in earnings per share to $1.47 compared to
$1.18 a year ago. Enron reported a 32% increase in net income to $1.3 billion up
from $957 million in 99.
• For the 4thQ numbers, Enron reported excellent results, including revenues of $41
billion, a 32% increase in earnings to $.41 per diluted share compared to $.31 a
year ago, and a 34% increase in net income to $347 million versus $259 million
a year ago.
• Enron had a tremendous year. The strong results reflected what Enron believed
was its breakout performance in all of its operations. The results also further
demonstrated its leading market position in each of its major businesses.
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