Puget Energy Swings to Profit

Puget Energy(PSD Quote) swung to a profit in the fourth quarter, aided by an higher demand for gas due to colder weather. Earnings in the fourth quarter of 2004 were depressed by a $75 million charge from discontinued operations.

The Washington-based utilities company earned $64.84 million, or 60 cents a share, compared with a loss of $15.69 million in the corresponding quarter last year. Earnings from continuing operations fell by about 5% to $56.3 million, or 52 cents a share, from the previous year.

Analysts polled by Thomson First Call were expecting earnings of 48 cents a share in the recent quarter. ...