Northwest Natural Gas earnings rise on gain
|
|
|
(Reuters) - Natural-gas distributor Northwest Natural Gas Co reported a 26 percent rise in quarterly profit, mainly on a gain from the sale of an airplane.For the second quarter, the company reported net income of $3.3 million, or 12 cents a share, compared with $2.6 million, or 10 cents a share, a year ago.The results included a gain of $1.1 million on the sale of a Boeing 737 airplane, which the company had purchased and leased to Continental Airlines.Gross operating revenue of the company, which distributes natural gas in Oregon and southwest Washington, grew 4 percent to $191.3 million.Excluding exceptional items, the company's profit was 8 cents a share, below analysts' expectation of 11 cents a share, according to Reuters Estimates. Analysts were expecting revenue of $202.7 million.Northwest reaffirmed its 2008 earnings outlook of $2.48 to $2.63 a share. Analysts are expecting earnings of $2.59 a share, excluding special items, for the period.Shares of the Portland, Oregon-based company closed at $45.94 Thursday on the New York Stock Exchange.(Reporting by Shradhha Sharma in Bangalore; Editing by Vinu Pilakkott)
(c) Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.
|
|
|
|
|
|
Related News
Five more US bank failures bring total for 2009 to 120
New York - Bank failures in the United States have risen to 120 this year as five more regional institutions were added to the list, the US agency that guarantees the safety of bank deposits said. United Commercial Bank in San Francisco with assets o...
US stocks climb slightly despite double-digit jobless rate
New York - US stocks posted mild gains Friday to end the week as investors shrugged off government figures that put the unemployment rate above 10 per cent. The Labour Department said the jobless rate hit 10.2 per cent in the month of October, the hi...
US joblessness hits 10.2 per cent, highest in 26 years - Summary
Washington - The US unemployment rate surged to 10.2 per cent in October, the highest in 26 years as another 190,000 people lost their jobs, the Labour Department reported Friday. The figure comes after a 9.8-per-cent jobless rate in September and wa...
US joblessness jumps to 10.2 per cent, highest since 1983 - Update
Washington - The US unemployment rate surged to 10.2 per cent in October, the highest in 26 years, as another 190,000 people lost their jobs during the month, the US reported Friday. The figure reported by US Labour Department came after the 9.8 per ...
US jobless rate jumps to 10.2 per cent
Washington - The US unemployment rate surged to 10.2 per cent in October as another 190,000 people lost their jobs, according to US Labour Department figures released Friday. The jobless rate stood at 9.8 per cent in September. Unemployment had been ...
Bulls stop James, edge Cavs - Summary
Los Angeles - The King couldn't deliver in the clutch. Luol Deng and Joakim Noah combined to deny LeBron James a potential game-winning drive in the final seconds as and the visiting Chicago Bulls snapped the Cleveland Cavaliers' three-game winning...
Mortgage lender Fannie Mae posts nearly 19-billion-dollar loss
Washington - US mortgage lender Fannie Mae said Thursday that it would seek 15 billion dollars in federal aid, after posting its ninth consecutive quarterly loss. Fannie Mae reported a net loss of 18.9 billion dollars in the third quarter of 2009, co...
|
|
|
|
|
|
|
|
