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

management of commodity delivery, energy information and energy assets, and price
risk management activities, as well as investments in related assets. Enron is focused
on bringing substantial savings to customers by achieving energy cost reductions and
realizing economies of scale in service and equipment purchases.
Broadband Services
Enron's broadband services business provides customers with a single source
for broadband services. In implementing its broadband strategy, Enron is
constructing the EIN, a nationwide fiber optic network that consists of both fiber
deployed by Enron and acquired capacity on networks not owned by Enron. The
EIN, managed by Enron's Broadband Operating System software, provides a
bandwidth-on-demand platform allowing the delivery of high bandwidth media-rich
content such as video streaming, high capacity data transport and video conferencing.
In addition, Enron is extending its market-making and risk management
intermediation business to help customers manage unexpected fluctuations in the
price, supply and demand of bandwidth. Enron also makes investments in companies
with related technologies and with potential for capital appreciation.
Income Statement Data:
SELECTED HISTORICAL CONSOLIDATED
FINANCIAL INFORMATION OF ENRON
- 427 -
Six Months Ended
June 30,
Year Ended
December 31,
2000 1999 1999 1998 1997
(Unaudited)
(In millions, except per share amounts)
Revenues $30,031 $17,304 $40,112 $31,260 $20,273
* * *
Total costs and expenses 29,340 16,686 39,310 29,882 20,258
* * *
Net income 627 344 893 703 105
Earnings per share of common stock
Diluted
* * *
Before cumulative effect of accounting changes $ 0.73 $ 0.61 $ 1.27 $ 1.01 $ 0.16
Cumulative effect of accounting changes – (0.18) (0.17) – –
Diluted earnings per share $ 0.73 $ 0.43 $ 1.10 $ 1.01 $ 0.16