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Otter Tail Corporation Reports Record Revenues and Net Income From Continuing Operations for 2007; Earnings Per Share of $1.78; Board Approves Dividend Increase
Date:2/5/2008

o the increase in net income.

Other Business Operations

Other business operations recorded revenues of $185.7 million and net income of $4.0 million in 2007 compared with revenues of $145.6 million and net income of $5.3 million in 2006. Revenues increased $40.2 million at the construction companies due to an increase in construction activity. Construction company net income decreased $1.4 million as a result of lower than expected margins on certain construction projects at Midwest Construction Services. Revenues from flatbed trucking operations remained essentially unchanged while net income increased $0.2 million.

Fourth Quarter Results

Diluted earnings per share for the fourth quarter of 2007 were $0.46 compared with $0.37 for the fourth quarter of 2006. Revenues for the fourth quarter of 2007 were $329.7 million compared with $286.7 million for the same period a year ago. Operating income for the fourth quarter of 2007 was $24.2 million compared with $24.1 million for the fourth quarter of 2006. Net income was $14.1 million in the fourth quarter of 2007 compared with $11.3 million in the fourth quarter of 2006, with increases in net income in the electric, food ingredient processing and plastics segments more than offsetting decreases in net income in the health services and other business operations segments.

2008 Expectations

Otter Tail Corporation anticipates 2008 diluted earnings per share to be in a range from $1.85 to $2.10. Contributing to the earnings guidance for 2008 are the following items:

-- The corporation expects increased levels of net income from the

electric segment in 2008. This increase is based on having lower cost

generation available for the year, as there are no plant shutdowns

planned for Big Stone Plant or Coyote Station in 2008, and on

additional rate base investment from the Langdon wind project. The

increase also assumes the interim
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SOURCE Otter Tail Corporation
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