Posts tagged: earnings
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.
Spokane-based educational travel company Ambassadors Group Inc. posted lower earnings in the second quarter as it arranged travel for fewer people.
The company today reported earning $15.2 million in April, May and June, or 78 cents per share. That’s down from $19.2 million, or 99 cents per share, int he second quater of 2009.
Ambassadors arranged travel for 13,396 delegates in the quarter, a 16 percent decrease from 15,995 delegates in the same quarter a year ago.
Gross receipts in the quarter were $83.1 million, compared to $99.3 million a year ago. Gross margin for the quarter decreased 14 percent year over year, the company reported.
Avista Corp. saw its earnings drop in the first quarter, and officials with the Spokane company say weather was largely to blame.
“We had a challenging first quarter because our region experienced one of the warmest January to March periods on record combined with low precipitation and snowpack,” Chairman, President and CEO Scott Morris said in a statement this morning. “This weather pattern reduced our retail loads, hydroelectric generation and net income.”
The company today reported net income of $28.8 million, or 52 cents per diluted share, for the first quarter. That compares to $31 million, or 57 cents per share, for the first quarter of 2009.
Net income for Avista’s utilities operation was $27.8 million in the first quarter, down from $30.6 million a year ago.