• 2012 revenues: $859 million
• 2012 net income (loss): $(5.3) million
• 2012 earnings (loss) per share: $(0.17)
• 2013 dividends: $1.19 indicated annual rate
• NASDAQ Global Select Market: OTTR
• Dividend history: paid quarterly since 1938

Our Business Strategy

Our strategy is designed to produce steady and predictable growth. This includes growing our core business, the regulated electric utility. Reliable utility performance along with rate base investment opportunities over the next several years will provide a strong base of revenues, earnings, and cash flows. Over time, we expect the electric utility will provide approximately 75% to 85% of our overall earnings. By adding to the utility earnings base and ongoing evaluation of our other operating companies, we plan to lower our overall risk, create a more predictable earnings stream, improve our credit quality and preserve our ability to fund the dividend. In addition, we look to our diversified operating companies to provide organic growth as well. This growth comes from new products and services, market expansion and increased efficiencies. We expect our manufacturing and infrastructure businesses will provide 15% to 25% of our earnings over time. In evaluating our portfolio of companies, we look for the following characteristics:

• a threshold level of net earnings and a return on invested capital in excess of our weighted average cost of capital,
• a strategic differentiation from competitors and a sustainable cost advantage,
• a stable or growing industry,
• an ability to quickly adapt to changing economic cycles, and
• a strong management team committed to operational excellence.