Highlights of EPCOR's financial performance:
- Net income was $38 million on revenues of $464 million for the three months ended March 31, 2014 compared with $57 million on revenues of $453 million for the corresponding period in the previous year. Net income in the first quarter of 2013 was unusually high due to the timing of rate adjustments.
- Net cash flows from operating activities were $101 million for the three months ended March 31, 2014 compared with $75 million for the corresponding period in the previous year.
- Investment in capital projects were $63 million for the three months ended March 31, 2014 compared with $93 million for the corresponding period in the previous year. The decrease of $30 million is primarily due to lower expenditure on the Heartland electricity transmission line which was completed in December 2013.
The management's discussion and analysis (MD&A) of the quarterly results and the unaudited condensed consolidated interim financial statements are available on our website and SEDAR.
"EPCOR's first quarter results show a good start to the year from our core water, wastewater and electricity operations"
- David Stevens, EPCOR President & CEO
EPCOR's wholly owned subsidiaries build, own and operate electrical transmission and distribution networks, water and wastewater treatment facilities and infrastructure in Canada and the United States. The Company's subsidiaries also provide electricity and water services and products to residential and commercial customers. EPCOR, headquartered in Edmonton, is an Alberta top 65 employer. EPCOR's website address is www.epcor.com.
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