May 8, 2008 - Edmonton, Alberta - EPCOR Utilities Inc. (EPCOR) today released its quarterly results for the period ended March 31, 2008.
“EPCOR’s first quarter financial results reflect good operating performance across all of our business units,” said EPCOR President and CEO Don Lowry. “First quarter results also benefited from the previously announced sale of a further 10% interest in the Battle River Power Syndicate Agreement. The first unit of our new Clover Bar Energy Centre started commercial operation in the quarter. Overall, our capital program which includes 50% of Keephills 3, Clover Bar, the E.L. Smith water plant expansion and the downtown Edmonton transmission expansion remains on track for 2008.”
Highlights of EPCOR’s financial performance:
- Cash flows from operating activities for the three months ended March 31, 2008 were $99 million compared with $164 million for the same period in the previous year.
- Net income was $68 million on revenues of $799 million for the three months ended March 31, 2008 compared with $98 million on revenues of $899 million for the same period in the previous year.
- Other comprehensive income was $23 million for the three months ended March 31, 2008 compared with other comprehensive loss of $23 million for the same period in the previous year.
- Investment in capital projects for the three months ended March 31, 2008 was $108 million compared with $75 million for the same period in the previous year.
For reading convenience, the full news release including the MD&A can be downloaded here:
The MD&A and the unaudited interim financial statements are available on EPCOR’s website (www.epcor.ca), and will be available on SEDAR (www.sedar.com).
EPCOR Utilities Inc. builds, owns and operates power plants, electrical transmission and distribution networks, water and wastewater treatment facilities and infrastructure in Canada and the United States. EPCOR has been named one of Canada’s Top 100 employers for eight consecutive years, is one of only 10 employers across Canada to be selected as one of Canada’s Most Earth-Friendly Employers, and is headquartered in Edmonton, Alberta.
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