(RTTNews) -  Tuesday, Atmos Energy Corp. (ATO: News ) reported a loss for the fourth quarter, impacted by lower volumes and a decline in average distribution cost of natural gas. The company also initiated earnings guidance for the fiscal year 2010.

The Dallas, Texas-based company's net loss for the fourth quarter was $15.95 million or $0.17 per share, compared with net income of $1.58 million or $0.02 per share for the same quarter last year.

In the recent fourth quarter, regulated operations experienced a net loss of $19.0 million or $0.21 per share, while non-regulated operations contributed $3.0 million of net income or $0.04 per share. Non-regulated operations included non-cash, unrealized net losses of $12.2 million or $0.13 per share, compared with net gains of $9.9 million or $0.11 per share for the prior-year quarter.

On average, seven analysts polled by Thomson Reuters expected the company to report a loss of $0.08 per share. Analysts' estimates typically exclude special items.

Gross profit for the fourth quarter slipped by 14% to $231.80 million from $271.07 million a year earlier.

Total operating expenses for the quarter decreased by 7% to $217.82 million from $233.54 million in the year-ago period.

Consolidated natural gas distribution throughput was 56.80 billion cubic feet or bcf, down from 62.06 bcf for the year-ago period. Consolidated regulated transmission and storage transportation volumes fell to 127.99 bcf from 165.78 bcf last year and consolidated natural gas marketing sales volumes declined to 88.13 bcf from 91.04 bcf for prior year fourth quarter.
Natural gas distribution average cost of gas for the fourth quarter was $4.96, more than halved from $11.39 for the year earlier period.

For the full year, the company's net income rose by 6% to $190.98 million or $2.08 per share from $180.33 million or $2.00 per share last year. Total gross profit increased by 2% $1.35 billion from $1.32 billion a year-ago.

For the fiscal year 2010, Atmos Energy expects earnings to be in the range of $2.15 to $2.25 per share, excluding unrealized gains and losses. The company expects earnings from regulated operations in the range of $153 million to $159 million, and net income from non-regulated operations is expected to be in the range of $48 million to $52 million.

Street analysts expect earnings of $2.22 per share for the year.

"Looking forward to fiscal 2010 and beyond, we remain focused on enhancing the stability and predictability of our regulated earnings, while optimizing our non-regulated assets to deliver average annual earnings per share growth in the 4 to 6 percent range," said Robert Best, chairman and chief executive officer.

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