UniSource Energy Income Up 7.3 Percent

By Phoenix Business Journal

UniSource Energy Corp. saw its income rise 7.3 percent in the third quarter, largely thanks to a settlement on a transmission line.

Tucson-based UniSource (NYSE: UNS), the parent company of Tucson Electric Power Co. and the stateâ¿¿s third-largest utility, reported an income of $59.7 million, or $1.46 per share, compared to income of $55.7 million for the same quarter last year.

The companyâ¿¿s revenue increased to $451 million for the quarter, up from $438 million for the same time last year.

TEP saw its retail kilowatt-hour sales fall 1.3 percent in the quarter, despite hotter weather. The utilityâ¿¿s sales also are being increasingly affected by energy efficiency programs required by the Arizona Corporation Commission.

UniSource narrowed its full-year earnings projections to between $2.70 and $2.80 per share. Its previous range had been between $2.60 and $2.90 a share.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/phoenix/news/2011/10/31/unisource-energy-income-up-73-percent.html?ana=thestreet

Copyright bizjournals.com 2010

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