Otter Tail Corporation Announces Third Quarter Earnings and Maintains 2007 Earnings Guidance; Board of Directors Declare... ($39.8 million compared with $39.5 millio...)

Navigation Links

Biology News Medicine News Biology Products Medicine Products Biology Definition Medicine Definition Biology Technology Medicine Technology Biology Dictionary Medicine Dictionary

HOME >> MEDICINE >> NEWS

Otter Tail Corporation Announces Third Quarter Earnings and Maintains 2007 Earnings Guidance; Board of Directors Declares Dividend

Date:11/1/2007

$39.8 million compared with $39.5 million for the nine months ended September 30, 2006. Diluted earnings per share from continuing operations were $1.31 for both the nine months ended September 30, 2007 and September 30, 2006.

Segment Performance Summary

Electric

Electric revenues increased 1.3% to $72.1 million in the third quarter of 2007 compared with $71.2 million in the third quarter of 2006 due to increases of $0.6 million in other electric revenues, $0.2 million in retail electric revenues and $0.1 million in net revenues from wholesale sales and energy trading activities, including mark-to-market losses on forward energy contracts. Electric segment third quarter 2007 net income of $6.5 million was unchanged from third quarter 2006 net income.

The main contributor to the increase in other electric revenues was an increase in revenue from electric construction work performed for other companies. The increase in retail revenues reflects $0.5 million related to a 4.1% increase in retail kilowatt-hour (kwh) sales, offset by a $0.3 million decrease in Fuel Clause Adjustment (FCA) revenues related to a 6.6% decrease in fuel and purchased power costs per kwh generated and purchased for system use. The increase in retail kwh sales reflects increased consumption by commercial and pipeline customers. Electric operating expenses, including fuel and purchased power, increased $0.3 million between the quarters mainly as a result of increases of $0.8 million in material costs related to construction work performed for others and $0.4 million in property taxes and depreciation expense related to an increase in plant in service between the quarters, offset by a $0.9 million reduction in fuel and purchased power expenses.

Plastics

The plastics segment's revenues and net income were $37.0 million and $1.4 million, respectively, in the quarter ended September 30, 2007 compared with $45.9 million and $4.6 million in the quarter ended September
'/>"/>

SOURCE Otter Tail Corporation
Copyright©2007 PR Newswire.
All rights reserved

0

GOOD

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
Related medicine news :

1. Cancer Patient Wins Lottery
2. UK’s Health Services Totterin
3. Virus Claims Harry Potter is Dead!
4. Potter and His Pals Light Up and Get Drunk Too!
5. Childline Gears Up for Distraught Potter Fans
6. Final Potter Book Already Out on the Web?
7. Harry Potter Final Book - Prediction and Expectations
8. Chiron Corporation Gets US Contract To Produce Bird Flu Vaccines
9. PM announces a new health care order for India
10. Ramdoss Announces Introduction of RCH-II
11. Britain Announces Third Transfusion Related Mad Cow Case

Post Your Comments:

[0] Hormonal Drugs Cool Hot Flashes From Prostate Cancer Therapy [0] New Blood Thinner Could Replace Warfarin to Fight Venous Clots [0] Talyst and RXinnovate Partner on Pharmacy Automation Implementation [0] Concord Coalition Report Shows Eagerness for Reform, Readiness to Make Tough Choices on Fiscal Priorities [0] Stand Up To Cancer Funds High-risk/High-reward Cancer Research by 13 Young Scientists

Other Medicine News:Health News:PA Commission for Women Announces 'Shocking Pink' Osteoporosis Campaign in Rural PA 2 Health News:Mitchell Medical and Jopari Solutions Team up to Offer eBilling Compliance Services to Automobile Property & Casualty Insurance Carriers to Meet New Minnesota Requirements 2 Health News:Mitchell Medical and Jopari Solutions Team up to Offer eBilling Compliance Services to Automobile Property & Casualty Insurance Carriers to Meet New Minnesota Requirements 3 Health News:Simcere Pharmaceutical Group to Announce Fourth Quarter 2007 Earnings on Tuesday, March 4, 2008 2 Health News:New Technology and Improved Techniques Arm Dermatologists With Tools to Minimize Facial Scars From Skin Cancer Surgery 2 Health News:New Technology and Improved Techniques Arm Dermatologists With Tools to Minimize Facial Scars From Skin Cancer Surgery 3 Health News:New Technology and Improved Techniques Arm Dermatologists With Tools to Minimize Facial Scars From Skin Cancer Surgery 4 Health News:American Academy of Dermatology Research Confirms Genetic Skin Barrier Defect Linked to Eczema 2 Health News:American Academy of Dermatology Research Confirms Genetic Skin Barrier Defect Linked to Eczema 3 Health News:American Academy of Dermatology Research Confirms Genetic Skin Barrier Defect Linked to Eczema 4 Health News:Toll-Free Hotline to Help Seniors Avoid Falls 2

PA Commission for Women Announces 'Shocking Pink' Osteoporosis Campaign in Rural PA Mitchell Medical and Jopari Solutions Team up to Offer eBilling Compliance Services to Automobile Property & Casualty Insurance Carriers to Meet New Minnesota Requirements Simcere Pharmaceutical Group to Announce Fourth Quarter 2007 Earnings on Tuesday, March 4, 2008 New Technology and Improved Techniques Arm Dermatologists With Tools to Minimize Facial Scars From Skin Cancer Surgery American Academy of Dermatology Research Confirms Genetic Skin Barrier Defect Linked to Eczema Toll-Free Hotline to Help Seniors Avoid Falls

Breaking Medicine Technology:Allen Medical Systems Announces the Launch of New Allen Amatech(TM) OEM Website 2 Quest Diagnostics Reveals New Genetic Discoveries for Testing for Leukemia, Lymphoma and Blood Clotting at 51st ASH Meeting and Exposition 2 Quest Diagnostics Reveals New Genetic Discoveries for Testing for Leukemia, Lymphoma and Blood Clotting at 51st ASH Meeting and Exposition 3 Quigley CEO, Ted Karkus, Announces Phase One of 2010 Strategic Plan; Karkus Reports that the Primary Focus will be on Leveraging its OTC Platform; Company Aggressively Seeking Product Acquisitions and Line Extensions which Leverage its Distribution 2 Quigley CEO, Ted Karkus, Announces Phase One of 2010 Strategic Plan; Karkus Reports that the Primary Focus will be on Leveraging its OTC Platform; Company Aggressively Seeking Product Acquisitions and Line Extensions which Leverage its Distribution 3 Diabetes Drugs Go Head to Head in Study 62570 1 Diabetes Drugs Go Head to Head in Study 62570 2 Diabetes Drugs Go Head to Head in Study 62570 3 Bullies May Intimidate Siblings Too 62568 1 Bullies May Intimidate Siblings Too 62568 2 Economic Crisis Causes Acute Demand for Affordable Drug Addiction Treatment 62566 1 Economic Crisis Causes Acute Demand for Affordable Drug Addiction Treatment 62566 2

[0] Allen Medical Systems Announces the Launch of New Allen Amatech(TM) OEM Website [0] Quest Diagnostics Reveals New Genetic Discoveries for Testing for Leukemia, Lymphoma and Blood Clotting at 51st ASH Meeting and Exposition [0] Quigley CEO, Ted Karkus, Announces Phase One of 2010 Strategic Plan; Karkus Reports that the Primary Focus will be on Leveraging its OTC Platform; Company Aggressively Seeking Product Acquisitions and Line Extensions which Leverage its Distribution

Other Medicine Technology:Karolinska Institutet to Test Vical's Vaxfectin(R) Adjuvant With Preventive Vaccine against HIV Under Sponsorship of Swedish Institute for Infectious Disease Control 2 Karolinska Institutet to Test Vical's Vaxfectin(R) Adjuvant With Preventive Vaccine against HIV Under Sponsorship of Swedish Institute for Infectious Disease Control 3 Karolinska Institutet to Test Vical's Vaxfectin(R) Adjuvant With Preventive Vaccine against HIV Under Sponsorship of Swedish Institute for Infectious Disease Control 4 Karolinska Institutet to Test Vical's Vaxfectin(R) Adjuvant With Preventive Vaccine against HIV Under Sponsorship of Swedish Institute for Infectious Disease Control 5 Vion Pharmaceuticals Enters Into Agreement With HOVON to Conduct a Phase III Clinical Trial of Cloretazine(R) in Combination With Frontline AML and MDS Therapy 2 Vion Pharmaceuticals Enters Into Agreement With HOVON to Conduct a Phase III Clinical Trial of Cloretazine(R) in Combination With Frontline AML and MDS Therapy 3

Karolinska Institutet to Test Vical's Vaxfectin(R) Adjuvant With Preventive Vaccine against HIV Under Sponsorship of Swedish Institute for Infectious Disease Control Vion Pharmaceuticals Enters Into Agreement With HOVON to Conduct a Phase III Clinical Trial of Cloretazine(R) in Combination With Frontline AML and MDS Therapy

Medicine Products:

Epik® Uni-System Foundation® Knee CR System BioPro® Modular TKO (Total Knee Original), PCL Retaining VersaPulse® 80/100 Watt

Otter Tail Corporation Announces Third Quarter Earnings and Maintains 2007 Earnings Guidance; Board of Directors Declare...($39.8 million compared with $39.5 millio...),Health