WisBusiness.com
Wisconsin Energy finished a solid 2007 with fourth quarter net income of $94.3 million, or 80 cents per share, up from $77.0 million, or 65 cents per share, in the same period a year ago.
The Milwaukee utility’s quarterly operating revenues grew to $1.15 million from $1.10 million.
For the full year, Wisconsin Energy’s 2007 earnings from continuing operations totaled $336 million, or $2.84 per share, up from $312 million, or $2.64 per share, in 2006.
Company officials said key factors for the increase in adjusted earnings from continuing operations in 2007 included favorable weather, improved natural gas margins and lower operating costs.
“I’m very pleased with our overall performance in 2007,” said Gale Klappa, chairman, president and chief executive officer of Wisconsin Energy.
“We invested nearly $1.2 billion in 2007 to improve the energy infrastructure in Wisconsin and Michigan’s Upper Peninsula. And over the next three years, we expect to invest another $2.8 billion to maintain reliability and improve fuel diversity for our customers.”
See release: http://phx.corporate-ir.net/phoenix.zhtml?c=114170&p=irol-newsArticle&ID=1104241&highlight=
