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Allegheny Energy profit rises on prices, lower taxes

SAN FRANCISCO (MarketWatch) — Allegheny Energy, Inc. on Wednesday reported a first-quarter profit of $136 million, or 80 cents a share, up from $109.7 million, or 65 cents a share a year earlier. Analysts polled by FactSet Research were looking for a profit, on average, of 79 cents a share. The Greensburg, Pa.-based electric utility said increased market prices and lower taxes helped drive the improved profit. In a separate release, Allegheny said it filed a request with the Virginia State Corporation Commission to recover purchased power costs in Virginia.
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Original post by Forextvblog

This entry was posted on Wednesday, April 30th, 2008 at 5:35 pm and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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