Avista reports third quarter income of $12.2 million

Avista Corp. reported slightly lower third quarter income of $12.2 million, or 19 cents per share, for the third quarter on Tuesday.

The results were in line with expectations, said Scott Morris, chairman and chief executive for the Spokane-based utility. The results compared to $13 million, or 21 cents per share, for the third quarter of 2015.

For the nine months ending Sept. 30, Avista’s net income was $97.1 million, or $1.53 per share, compared to $84.7 million, or $1.35 per share for the nine months ending Sept. 30, 2015.

Cooler winter weather in 2016 helped Avista’s year-to-date earnings, though the cooler summer also reduced the utility’s revenue from summer air conditioning loads.

Avista’s 2016 earnings will be in the range of $1.96 to $2.16 per share, Morris said.