Unitil posts loss in Q3

Tue. October 27, 2009; Posted: 09:36 AM

Oct 27, 2009 (Datamonitor via COMTEX) -- UTL | Quote | Chart | News | PowerRating -- US-based power and gas utility Unitil has reported a net loss of $0.6 million, or $0.06 per share, for the third quarter of 2009, compared to net earnings of $1.5 million, or $0.27 per share, for the same period of 2008.

The company has reported gas sales margin of $7.9 million for the third quarter of 2009, compared to $2 million for the same quarter of 2008. Unitil has reported electric sales margin of $14.5 million for the third quarter of 2009, compared to $14.3 million for the same period of 2008.

For the first nine months ended September 30, 2009, Unitil has reported a net income of $8.7 million, or $0.94 per share, compared to $6.4 million, or $1.12 per share, for the corresponding period of 2008.

Year-to-date gas sales margin was $42.3 million, compared to $9.9 million for the first nine months of 2008. Year-to-date electric sales margin was $41.7 million, compared to $41.8 million for the first nine months of 2008.

Robert Schoenberger, chairman and CEO of Unitil, said: "We continue to see the positive impact of our acquisition of Northern Utilities and the Granite State pipeline on our utility operations. In these challenging economic times, we are pleased to pass on the benefit of significantly lower energy costs to our customers."

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