Piedmont Natural Gas Q3 net loss narrows

Mon. September 07, 2009; Posted: 09:36 AM

Sep 07, 2009 (Datamonitor via COMTEX) -- PNY | Quote | Chart | News | PowerRating -- Piedmont Natural Gas Company has reported a net loss of $7.3 million, or $0.10 per diluted share, for the third quarter ended July 31, 2009, compared to a net loss of $7.7 million, or $0.10 per diluted share, for the same period of 2008.

The company has reported operating revenues of $180.2 million for the third quarter ended July 31, 2009, compared to $354.71 million for the same quarter of 2008.

Piedmont Natural Gas has reported a net income of $127.1 million, or $1.73 per diluted share, for the first nine months ended July 31, 2009, compared to $123.2 million, or $1.67 per diluted share, for the corresponding period of 2008.

Year-to-date operating revenues were $1.41 billion, compared to $1.78 billion for the first nine months ended July 31, 2008.

Thomas Skains, chairman, president and CEO of Piedmont Natural Gas, said: "This fiscal year has been a challenging one as our employees have worked through the very difficult economic conditions brought on by the global recession.

"By sticking to the fundamentals of maximizing profitable growth opportunities, implementing ongoing cost management and business process improvement programs, spending our capital resources prudently and providing quality customer service, we are poised to achieve another year of record earnings per share for our shareholders."

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For full details on Piedmont Natrl Gas Inc (PNY) click here. Piedmont Natrl Gas Inc (PNY) has Short Term PowerRatings of 5. Details on Piedmont Natrl Gas Inc (PNY) Short Term PowerRatings is available at This Link.

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