Hawaiian Electric Profit Falls

Hawaiian Electric Industries(HE Quote), an electric utility and financial services company, said Tuesday its second-quarter earnings fell 1.4% from the year-ago period, on higher operating expenses and mild weather.

The Honolulu-based company earned $27.2 million, or 33 cents a share, in the quarter, compared with $27.6 million, or 34 cents a share, a year ago. Analysts polled by Thomson First Call were expecting earnings of 41 cents a share.

Second-quarter revenue rose 15.8% from a year ago to $605 million. Analysts were expecting revenue of $585.9 million in the most recent quarter. ...