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Avista improves 3Q income

Spokane-based Avista Corp. on Thursday posted third-quarter earnings of $12.3 million, or 22 cents a share, compared with income of $8.1 million and 15 cents per share in the third quarter of 2009.

Over the first nine months of 2010, the power utility reported income of $66.7 million, or $1.20 per share, compared with income of $65 million, or $1.18 per share, for the same period one year earlier.
Third-quarter revenue was $367.1 million, compared with $314.7 million from the third quarter of 2009.

Company CEO and President Scott Morris said in a news release that the company is overcoming “a challenging first quarter due to one of the warmest January to March periods on record.” That’s been offset by “lower power supply costs and the continued management of our operating expenses,” Morris said.


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