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Enron Mail |
I just wanted to recap our 2000 Earnings Target, based upon our discussions
on Wednesday. 1999 Consolidated Net Income $49.6 Million 2000 Target Consolidated Net Income $96.6 Million (Included original "stretch" of $2.9M) 2000 Base Operating Income Target $147.4 Million 2000 Current Estimate Base Operating Income $154.8 Million Through June of 2000, in our Base Operating Income we were able to cover our original stretch of $2.9Million, as well as a Sale of Assets shortfall of $2.6 Million, resulting in our exceeding our Base Operating Income Target by a net amount of $1.9 Million. We will now put into place a plan to cover the incremental stretch of at least $2.9 Million for 2000. Our revised 2000 Consolidated Net Income Target is now $89.4 Million. We will be meeting in the next few days to develop and implement our strategy to attain this target. I will advise you of the possibilities which we will be pursuing to reach our target. You should also recall that we are continuing to pursue reimbursement for our costs related to the lowering of the Black Marlin pipeline across the Houston Ship Channel. The Purchase and Sale Agreement for Black Marlin was negotiated such that all dollars collected for that work will come back to Enron as income. In the final analysis, I am confident that we will meet, or exceed, the target before us. If you have any questions, or wish to discuss any of this, please call me.
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