NV Energy reports $4.2 million quarterly earnings

Page Last Updated: Monday February 8, 2010 1:47pm PST

NV Energy Inc. says higher rates at its Nevada utility helped it post fourth-quarter earnings of $4.2 million, or 2 cents per share.

Company earnings reported Monday for the last three months of 2009 compared with a loss of $2.1 million, or a penny a share, a year ago.

Analysts polled by Thomson Reuters had expected a profit of 7 cents per share, on average.

Revenue for the owner of Nevada Power Co. and Sierra Pacific Power Co. edged up to $772.9 million from $766.1 million in the prior-year period.

Full-year earnings fell to $182.9 million, or 78 cents per share.

That compares with $208.9 million, or 89 cents per share a year ago.

Shares of NV Energy slipped 19 cents on Monday, to $11.17.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

View News Archive »