WGL Losses Widen

Natural gas utility WGL Holdings(WGL Quote) said its seasonal fourth-quarter losses rose 18% from the year-ago quarter as demand for natural gas slackened.

The Washington, D.C.-based company lost $13.4 million, or 28 cents a share, in the quarter, compared with $11.4 million, or 23 cents a share, last year. The losses include after-tax losses from discontinued operations of 10 cents a share. Analysts polled by Thomson First Call had estimated a loss of 22 cents a share for the quarter.

Fourth-quarter revenue rose 16% from a year ago to $322.5 million, thanks to an increase in non-utility revenue, vs. analysts' estimate of $109.82 million. ...