Wisconsin Energy reports net income from continuing operations of $172.1 million, or 74 cents a share, for the first quarter of 2012, an increase of 0.7% despite lower sales compared to the same quarter of 2011.
The first quarter 2012 net income compares with net income from continuing operations of $170.9 million, or 72 cents a share, for the first quarter of 2011.
Due in part to what Wisconsin Energy called “the warmest first quarter in at least 122 years,” first quarter 2012 revenues were $1.19 billion, compared with $1.33 billion in the same quarter a year ago.
The unseasonably warm weather reduced the demand for natural gas, but that was offset by stronger fuel costs for power generation, lower operation and maintenance costs, and the impact of the company’s share repurchase program.
Read the full article.
