Earnings Conference Call - Second Quarter 2003

Larry L. Weyers
Chairman, President, and Chief Executive Officer
 
and
 
Joseph P. O'Leary
Senior Vice President and Chief Financial Officer

Good afternoon. Welcome to the quarterly earnings conference call for WPS Resources Corporation. I’m Larry Weyers, Chairman, President, and Chief Executive Officer for WPS Resources Corporation. With me today is Joe O’Leary, our Senior Vice President and Chief Financial Officer; Phil Mikulsky, our Senior Vice President – Development; and Charlie Schrock, President of WPS Power Development, Inc.

We are here today to discuss our earnings for the second quarter and first six months of 2003 and what you can expect to see from us in the future.

WPS Resources’ common stock is traded on the New York Stock Exchange under the ticker symbol WPS. Earlier today we issued a press release containing our earnings information. If you haven’t seen the release, you might want to get it. It is also available on our Internet site. Once you are at the site, select Investor Information, select Financial News, select Earnings, and finally select the release from today, July 24.

Before we begin, I need to point out that this presentation contains forward-looking statements within the definition of the Securities and Exchange Commission’s safe harbor rules including the realization of projected results for 2003 for WPS Resources and its subsidiaries. Forward-looking statements are beyond the ability of WPS Resources to control and, in many cases, WPS Resources cannot predict what factors would cause actual results to differ materially from those indicated by forward-looking statements. I refer you to the forward-looking statement section of today’s press release and to our filed Securities and Exchange Commission disclosure documents for further information.

Now, back to the business at hand.

WPS Resources’ consolidated net income decreased by more than 87 percent during the second quarter of 2003 when compared with 2002. This resulted in basic earnings per share of 8 cents for the quarter compared with 68 cents during the same period in 2002. During the same quarter in 2002, we recognized a 32-cent gain relating to a sale of our partial interest in a synthetic fuel operation in 2001.

WPS Energy Services continues to perform well and increased its net income by 1.7 million dollars. However, WPS Resources’ consolidated net income decreased by 19 million dollars this quarter resulting from plants being down for maintenance at our electric utility and our power development business unit. Since Wisconsin is a transmission-constrained state and two of our utility’s largest plants were down during part of the quarter, we were forced to use our gas peaking units and combustion turbines that use more costly fuel supplies to meet the needs of our customers. We were also hit hard at the utility this quarter by 7.6 million dollars in increased pension and medical benefit costs. These events contributed to net income at our consolidated utility segment decreasing by 4.9 million dollars. In addition, WPS Power Development’s net income decreased by 15.4 million dollars. About 10 million dollars of the decrease was related to the gain recognized in 2002 from the 2001 sale of the partial interest in our synthetic fuel operations that I mentioned previously. We also had maintenance issues at our Sunbury plant, which increased costs when we were forced to buy power to meet our contract obligations.

While consolidated net income decreased, consolidated revenue increased by almost 650 million dollars. WPS Energy Services is responsible for the majority of the revenue increase with a 616 million dollar increase in revenues. In addition, our consolidated utility segment reported a 30.5 million dollar increase in revenues and our power development business unit reported a 6.9 million dollar increase in revenues.

Now Joe O’Leary will discuss the details behind these financial results.

The Senior Vice President and Chief Financial Officer speaks.

Thanks, Larry.

WPS Energy Services reported a 616 million dollar increase in revenues this quarter when compared with the same period in 2002. A number of things transpired to result in this significant jump in revenues.

A major factor is that WPS Energy Services, as required by new accounting standards, adopted Emerging Issues Task Force Issue No. 02-03 in the first quarter of 2003. More detailed information about the adoption of EITF 02-03 can be found in our news release, which is available on our web site. The required retroactive reclassification to net revenues and cost of sales for 2002 trading activities resulted in a 247.5 million dollar decrease in WPS Resources' previously reported second quarter 2002 consolidated nonregulated revenues and a corresponding 247.5 million dollar decrease to previously reported second quarter 2002 nonregulated cost of fuel, gas, and purchased power. However, margins, net income, and cash flows for 2002 were not impacted by the reclassification of revenue upon adoption of EITF 02-03.

In addition to the accounting change, WPS Energy Services’ gas revenues increased as the result of higher natural gas prices in the second quarter of 2003 compared with the same period in 2002. Sales volume growth, including WPS Energy Services’ acquisition of a retail natural gas business in Canada in the fourth quarter of 2002 and additional retail electric customers, also contributed to higher gas and electric revenues this quarter.

Utility segment revenues increased by 30.5 million dollars, or almost 13 percent, in the second quarter of 2003. Our consolidated electric utility segment generated more than 16 million dollars of additional revenue while our gas utility segment generated more than 14 million dollars. Increased revenues at the utility level were the result of rate cases that increased electric revenues by 3.5 percent in Wisconsin for Wisconsin Public Service’s customers and by 8.95 percent in Michigan for Upper Peninsula Power’s customers. Meanwhile, natural gas utility revenues also increased as a result of higher gas prices.

WPS Power Development’s revenues increased by 6.9 million dollars largely due to its new generating assets in New York that were acquired in June of 2002 and higher revenues at our Maine, New Brunswick, and Combined Locks facilities.

Overall, our margins improved this quarter. Our electric utility margin increased by 6.1 million dollars largely as the result of electric rate increases at both of our utilities, while our gas utility margin was about the same. Transmission constraints in Wisconsin caused us to use more costly power generation sources. The fuel mix for electric generation was impacted by high natural gas costs. Natural gas fuels our peaker units, which were required to operate when we conducted outages at our Kewaunee and Weston plants.

WPS Energy Services’ electric margin increased by 9.6 million dollars this quarter due to growth in its electric retail electric customers, enhanced operational performance, more favorable market conditions in Maine, and better management of power supplies in Ohio. WPS Energy Services’ electric and gas margins were also affected by the change in accounting prescribed by the adoption of Issue 02-03. As of October 25, 2002, Issue 02-03 no longer permits mark-to-market accounting for nonderivative trading contracts. As a result, certain contracts are accounted for under the accrual method of accounting, delaying the recognition of market gains and losses on those contracts. More detailed information can be found in our news release, which is available on our web site.

WPS Energy Services’ gas margin decreased by 3.7 million dollars this quarter due to this change in accounting, which is partially offset by the acquisition of a Canadian retail gas business in November 2002.

WPS Power Development’s margin decreased by 5.6 million dollars largely due to operational issues with newly-installed environmental control equipment in various boilers at Sunbury and a turbine outage. This meant that Sunbury needed to fulfill contract requirements through more costly purchased power. However, this was partially offset because of increased margins resulting from generation assets acquired in New York in June 2002.

Operating expenses increased by 17 million dollars during the second quarter of 2003 compared with 2002. Utility operating expenses increased by 13.3 million dollars with the major contributors being higher pension and medical costs coupled with operating and maintenance costs incurred during the scheduled refueling outage at the Kewaunee plant, which operates on an 18-month refueling cycle. Also contributing to increased operating expenses was 3 million dollars in business expansion expenses associated with WPS Energy Services’ acquisition of a Canadian retail gas business in November 2002 and a Michigan retail electric business in December 2002.

Miscellaneous income decreased by 10.6 million dollars largely as the result of WPS Power Development recognizing a smaller gain on the sale of a portion of its interest in a synthetic fuel facility in 2003 than in 2002. The 2003 second quarter gain was 1.9 million dollars before taxes compared with 16.7 million dollars before taxes in 2002.

We also recognized 2.2 million dollars less in tax credits this quarter as a result of WPS Power Development’s sale of a portion of its ownership interest in the synthetic fuel facility in December 2002 and a lower federal income tax liability, which decreased our appetite for tax credits.

Now, let’s take a look at how we performed during the first six months of 2003.

Consolidated net income decreased by 14.1 million dollars, or 28 percent, for the six months ended June 30, 2003 compared with the same period in 2002. Basic earnings per share on WPS Resources’ common stock were $1.10 for the six months ended June 30, 2003 compared with $1.58 for the same period in 2002. Earnings for the first six months of 2003 included an additional 3.2 million dollars, net of taxes, or 10 cents in basic earnings per share that is attributable to the cumulative effect of the required accounting change. Earnings for the six months ended June 30, 2002 included 34 cents from a gain on the 2001 sale of a portion of our interest in a synthetic fuel facility.

Consolidated revenue rose by 1.5 billion dollars, or almost 210 percent, for the first six months of 2003 when compared with 2002. Utility revenues rose by 120.5 million dollars as a result of retail and wholesale rate increases, sales volume growth, and higher natural gas prices. WPS Energy Services’ revenues increased by 1.4 billion dollars primarily as a result of higher natural gas prices, the required change in accounting, sales volume growth to existing customers, and business expansion in Canada and Michigan.

Margins increased for the six months ended June 30, 2003 compared with the same period in 2002. Our electric utility margin increased by 13.6 million dollars due to retail electric rate increases and slightly higher sales volumes with 3 percent greater volumes sold to higher margin customers. However, electric margin increases were reduced by increased purchased power and fuel costs. Our internal generation of energy was limited during the first six months because of outages at three of our facilities. When we were unable to replace the reduced generation with less expensive purchased power because of transmission constraints, we were forced to run our more expensive peaking units resulting in increased costs for generation.

Although our consolidated electric utility margin increased, our consolidated electric utility segment’s earnings decreased due to increased expenses and electric rate relief that was not provided by the Public Service Commission of Wisconsin until March 21.

Our gas utility margin increased by 3 million dollars during the first six months of 2003 compared with 2002 largely due to an 8 percent increase in overall natural gas throughput volumes. This results from a heating season that was 12 percent colder than last year and 9 percent colder than normal.

WPS Energy Services’ electric margin increased by 14.4 million dollars largely due to expansion of its retail electric business, more favorable market conditions in Maine, and enhanced operational performance in Ohio. Its gas margin increased by 4.2 million dollars due to higher wholesale margins, gains associated with the settlement of pending liabilities with several counterparties, and business expansion in Canada, offset by the change in accounting, which precludes mark-to-market accounting for nonderivative trading contracts.

WPS Power Development’s margin decreased by 6.8 million dollars largely due to decreased availability at Sunbury as a result of issues related to fuel quality and associated mechanical difficulties involving fuel delivery early in the year and operational issues related to newly-installed environmental control equipment in various boilers and a turbine outage in the second quarter of 2003. The problems were somewhat offset by increased margins from additional generating assets.

Consolidated operating expenses increased by 33.1 million dollars. Reflected in that increase was 23.7 million dollars related to our utilities for higher pension and medical costs, increased operating costs at Kewaunee, and costs incurred for maintenance at Kewaunee during the refueling outage at the plant, which only occurs every 18 months. Operating expenses also increased by 7.7 million dollars at WPS Energy Services largely due to business expansion and higher variable compensation costs.

Miscellaneous income decreased by 14.9 million dollars due to recognition of a 3.7 million pretax gain in the first six months of 2003 compared with an 18 million dollar pretax gain in 2002 associated with selldowns of WPS Power Development’s ownership interest in a synthetic fuel facility during 2001 and 2002. The gain from the 2002 sale will be recognized over the next several years. The gain reported in 2002 resulted from a 2001 selldown of WPS Power Development’s interest in its synthetic fuel operations and was recognized in its entirety by December 31, 2002.

Tax credits were also reduced by 2.4 million dollars as a result of the selldown of WPS Development’s ownership interest in the synthetic fuel facility and our lower federal income tax liability resulting in a reduced need to use tax credits.

Finally, the weighted average number of common stock shares outstanding increased by about 700,000 shares in the second quarter of 2003 compared with the same period in 2002 primarily as a result of issuing additional shares under the Stock Investment Plan and employee stock purchase plans.

Now I’ll turn the conference call over to Larry Weyers.

The Chairman, President, and Chief Executive Officer speaks.

Thanks, Joe. That gives you background information on our earnings story for the quarter and year-to-date. Now I’ll discuss how our operating segments fared and what you can expect in the future. I’ll begin with our regulated utilities, which have filed several rate cases.

Yesterday, Wisconsin Public Service received approval from the Michigan Public Service Commission to increase retail electric rates by 1.3 million dollars for its Michigan customers, effective today. While less than the 2.4 million dollars originally requested, we are satisfied with the results. The order also allowed an 11.4 percent return on equity.

On March 11, 2003, Wisconsin Public Service filed with the Federal Energy Regulatory Commission to increase its wholesale electric rates by 4.2 million dollars. We received a draft order on April 30 approving a 4.1 million dollar increase in wholesale electric rates effective May 11, subject to refund.

On April 1, Wisconsin Public Service filed in its Wisconsin jurisdiction for authorization to increase its retail electric rates by 88.9 million dollars, or 14.1 percent, and its retail natural gas rates by 15.4 million dollars, or 4.1 percent. We’ve requested a 12 percent return on equity and 55 percent equity in our capital structure. Public hearings on the rate case are scheduled for the first week in October. We hope to receive the final order in this case during the fourth quarter, which would allow the rates to be effective January 1, 2004.

Public Service’s new 83-megawatt natural gas-fired combustion turbine at our Pulliam Power Plant in Green Bay became operational on May 30, 2003. Construction on the facility began in October of 2002.

Work is also continuing on our plans to build a 500-megawatt coal-fired electric generator at our Weston Power Plant site near Wausau, Wisconsin. We requested a declaratory ruling from the Public Service Commission of Wisconsin in early May for authorization to recover capital expenditures associated with the project prior to project approval, which is expected in the fall of 2004. Costs incurred prior to approval could be as high as 71 million dollars. We are currently preparing the certificate of public convenience and necessity application, which we expect to submit to the Public Service Commission near the end of the third quarter. Current projections indicate that the plant will cost about 750 million dollars. We expect the plant to be operational in 2008.

On June 13, 2003, Wisconsin Public Service contributed about 20 million dollars in assets related to the Wausau, Wisconsin to Duluth, Minnesota transmission line project to American Transmission Company. This transaction increased our ownership interest in American Transmission Company to about 18 percent. Actual construction of the line cannot take place until it is reapproved by the Public Service Commission of Wisconsin. Parties to the construction of the line filed with the Commission in November 2002 for approval of a revised cost estimate for the project that includes enhancements to the original project that had increased the total project cost for the completed line to about 420 million dollars. An independent third-party reviewer hired by the Commission recently completed a review of the project and concluded that the increased cost estimate was justified. The American Transmission Company hopes to complete construction of the line in 2008.

Our jointly-owned Kewaunee Nuclear Power Plant was shut down for planned refueling on April 5 and was returned to service on May 11. During the refueling we visually inspected the reactor vessel head and did not find a problem with corrosion of the head, which has been a nuclear industry issue. You may recall that the Public Service Commission of Wisconsin has granted approval to replace the reactor vessel head during our next refueling, which will occur during the fall of 2004. We anticipate that replacement will cost about 21 million dollars and Wisconsin Public Service will be responsible for its 59 percent share or about 12 million dollars.

On May 14, 2003, an earthen dike at the Silver Lake reservoir owned by Upper Peninsula Power Company, our wholly-owned subsidiary, failed resulting in flooding downstream on the Dead River. The cause of the failure at the Silver Lake reservoir continues to be assessed.

The extent of damage to Upper Peninsula Power’s facilities and third-party property in the area is not yet known. A preliminary damage estimate prepared for Marquette County estimated that the flood’s impact was 102 million dollars. WPS Resources maintains a comprehensive insurance program that includes Upper Peninsula Power. We believe we are insured in amounts that are sufficient to cover our responsibilities in connection with this event.

To seek recovery of costs not covered by insurance, including deductible amounts and power supply costs, Upper Peninsula Power filed deferral requests with the Michigan Public Service Commission and the Federal Energy Regulatory Commission to allow it to defer these costs and seek rate recovery in the future.

Now let me bring you up-to-date on the operations of our two nonregulated subsidiaries. I’ll begin with WPS Power Development.

Our facilities in Maine and Canada continue to operate well, but also continue to suffer from the lingering effects of drought conditions seen in previous years. Generation from the hydro facilities for the year is well below normal. All of the generation from our facilities in Maine and Canada remains under contract to WPS Energy Services and another non-affiliated group.

We own three power plants in upstate New York that we purchased in June of last year for 59 million dollars. Our Niagara Falls plant was damaged by an ice storm on April 3 and was taken out of service. It returned to service on May 13 and has been running well since. The Syracuse and Beaver Falls plants, which are gas plants, have been available and have run well on the few occasions that they have been called upon to run, but they continue to be affected by unfavorable spark spreads related to the high cost of natural gas. The generation from our three New York plants is not under contract, but is instead sold in the open market. Energy prices in upstate New York have been near or slightly above our expectations, primarily due to higher natural gas prices. We also have not seen significant price spikes or sustained durations of high prices.

WPS Power Development owns a 50-megawatt combustion turbine cogeneration facility in Combined Locks, Wisconsin, and has all of its capacity under contract. This facility ran well during the second quarter with about 95 percent availability. We are expecting good performance from the unit through the summer.

Our Sunbury plant in Pennsylvania continued to work through maintenance issues in the second quarter. Most of the maintenance issues were the result of increased wear on fuel and ash transport systems and on the environmental control equipment that was installed in 2002. The increased wear was caused by the increased use of silt — a low-grade fuel — in some of our boilers. We expected to see an increase in wear, but the actual increase experienced was more than we anticipated. We are developing maintenance programs and operating procedures to enable us to better manage this wear. The value from fuel savings by burning this fuel should exceed the incremental maintenance costs that we will have in the future and should help us improve Sunbury’s financial performance.

Sunbury’s performance in 2003 versus 2002 shows a substantial decline, driven by increased costs of production due to the maintenance referred to previously and also due to a very large drop in revenue from capacity payments. The drop in capacity payments is a result of the completion of a bilateral contract for capacity and the very low value for capacity in today’s market.

We assess the long-term future of Sunbury on a periodic basis, and from the assessment we determine appropriate operating and asset management strategies. We continue to see long-term value in Sunbury, but recognize that there will be some short-term financial stress on the plant until the capacity market rebounds. We will continue to assess the long-term future and will take actions to maximize the value for our shareholders — whether that action is to continue to operate the plant or not. Such a decision will be based on market conditions and our estimates for costs associated with running the plant.

Our investment in a synthetic fuel project has been performing well and the facility is producing synfuel in accordance with our expectations. Of course, important issues relate to the Internal Revenue Service’s announcement regarding its concern over “chemical change” of synthetic fuels. The IRS’s concern came about through its audits of other taxpayers. The specific nature of the IRS’s concern is unknown at this time. We cannot predict the outcome of the IRS review, when the review will be completed, or the ultimate impact, if any, on our facility. We believe that we are justified in relying on the two private letter rulings for the facility, that the test results presented to the IRS in connection with the private letter rulings are scientifically valid, and that the facility has been operated in accordance with the private letter rulings and Section 29 of the IRS Code.

Market conditions continue to have a detrimental impact on our financial results for WPS Power Development as it operates in open markets in PJM (Pennsylvania-New Jersey, and Maryland) and NYISO (New York Independent System Operator). Market pricing for energy was higher than previous years early in 2003, and was primarily the result of higher natural gas prices, but market pricing has now returned to levels very close to that seen in the past few years.

Now, let’s take a closer look at WPS Energy Services’ operations.

We have enjoyed tremendous growth and margin improvement at Energy Services over the last 6 years, and we expect to continue expanding in the northeast quadrant of the United States and adjacent portions of Canada. We are continuing to maintain a balance of retail and wholesale natural gas and electric business, utilizing WPS Power Development’s assets where applicable. Our nonregulated electric and natural gas sales commitments are generally back-to-back transactions that allow us to effectively manage risk.

Our Canadian natural gas retail book of business operating in Ontario and Quebec has been part of Energy Services’ activities for more than six months now and has been fully integrated into our processes. As a result, we are seeing incremental improvements and the business is functioning better than expected. We had not expected this operation to contribute to earnings until 2004, but with both margins and volumes exceeding projections, we foresee a small positive impact in 2003 and see no reason why this entity will not continue to perform well.

WPS Energy Services is continuing to expand its customer base in northern and southern Maine through bilateral contracts with customers. Energy Services already has a significant load in northern Maine that is not part of the standard offer. Although the standard offer contracts expire in February 2004, the bilateral contracts have end dates that are beyond February 2004. Energy Services is also continuing to pursue additional aggregation programs in Ohio.

WPS Energy Services’ gas retail and electric retail segments of business continue to grow both margins and volumes. This retail growth, along with our strong gas wholesale performance during the second quarter, allows Energy Services to maintain the balance between our wholesale and retail segments — a balance that we believe is important for us to maintain.

Energy Services’ strategy going forward is not changing. We will continue to provide value added energy and energy-related services to our customers in the northeast quadrant of the United States and adjacent portions of Canada. We will continue growing our retail business with a balance between electric and natural gas.

Finally, I’ll turn to WPS Resources.

We purchased a one-third interest in the Guardian Pipeline from CMS Energy in June for about 26 million dollars. The Guardian Pipeline, which began operating in 2002, stretches about 140 miles from near Joliet, Illinois, into southern Wisconsin. It can transport up to 750 million cubic feet of natural gas daily. Even though our principal utility doesn’t connect to it, we think it will be a great addition to our business holdings. The pipeline is critical to natural gas reliability in Wisconsin and over 88 percent of its capacity is under contract through 2012.

Our asset management strategy calls for the disposition of assets, including entire business units, which are no longer required for operations. Excess land, buildings, and other facilities are a part of this strategy. Going forward, we are expecting an average annualized impact of 15 to 25 cents per share through 2007 from our asset management strategy relating to property sales. We expect to be within that range for 2003, assuming Federal Energy Regulatory Commission approval of our request to remove certain lands from our hydro licenses is received by the end of the year.

Our financial strength and quality credit ratings are among the best in the industry. We will continue to work hard to maintain quality credit ratings.

In April 2003, Wisconsin Public Service filed with the Public Service Commission of Wisconsin seeking approval to issue up to 172 million dollars in debt. We expect to issue debt in the second half of 2003 under Wisconsin Public Service’s existing shelf registration, with the size and timing dependent upon business needs and refinancing opportunities. Wisconsin Public Service is reviewing the potential for refinancing existing debt in 2003 and has already redeemed 9.1 million dollars of 6.125 percent tax exempt bonds.

WPS Resources filed a shelf registration with the Securities and Exchange Commission in April 2003 for 350 million dollars, which will allow us to issue a combination of debt or equity. We expect to issue common stock under this shelf registration later this year. The size of the common stock issue is contingent on business needs.

WPS Resources Corporation also has 50 million dollars of seven percent trust preferred securities outstanding that we anticipate calling in the third quarter of 2003.

We recently announced a dividend increase on our common stock. We are proud to say that this is the 45th consecutive year we have increased our quarterly dividend. The 54-1/2 cent dividend is payable on September 20 to shareholders of record on August 29.

In 2003, we are continuing to seek balanced utility and nonregulated growth. Our long-term earnings per share growth rate target is 6 to 8 percent on an average annualized basis, with fluctuations in any given year that may be above or below that targeted range. We believe this strategy will reduce the overall risk to investors and, combined with our growing dividend, provide very good returns to our shareholders. Our target for 2003 earnings per share is unchanged from our first quarter report of between $2.75 and $2.95, and we anticipate being within this range even with the weaker-to-date results, although we may be at the lower end of the range given our delayed rate case order. A portion of our weaker performance for the quarter and year-to-date was expected due to the planned outages at our generating facilities. Achieving our targeted range for 2003 earnings per share is dependent upon, among other things, normal weather, availability of our generating units, improvement in the market price for energy, the timely successful completion of our pending rate cases, a pick-up in the recovery of the economy, continued execution of our asset management strategy, and successful execution of cost control initiatives.

WPS Resources’ conservative nature has served it well throughout the years and investors are taking notice and investing in our company. Our core competencies are in energy and energy related businesses. We intend to stay in those businesses within the United States and Canada. Our electric and gas utility has served northeastern Wisconsin for 120 years. We understand the energy business and have developed a business plan that capitalizes on that knowledge. Our utility base is solid and our nonregulated energy businesses are focused. We’ve rewarded our shareholders with increased dividends for 45 consecutive years. We effectively mitigate and minimize risk in the operation of our business. We strive to maintain quality credit ratings. Finally, we deliver value to our customers and our shareholders.

We plan to continue delivering shareholder value through our strong utility foundation, focused nonregulated energy and energy-related businesses, achieving our projected average annualized earnings per share growth of 6 to 8 percent, and maintaining our outstanding dividend record. We plan to continue delivering value for many years to come!

Now, I’d like to take time to answer your questions about our financial picture and plans for the future. As a reminder, Phil Mikulsky and Charlie Schrock are here to assist.

Thank you for being a part of our second quarter earnings conference call. A replay of this conference call will be available through August 7 by dialing 800-964-1213.

The text for today’s presentation is available on our Web site. Just select Investor Information and then Presentations.

If you have additional questions, you may contact Joe O’Leary at 920-433-1463 or Donna Sheedy at 920-433-1857.