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Article: Nevada Power Company Reports Earnings
- Article from:
- PR Newswire
- Article date:
- July 16, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LAS VEGAS, July 16 /PRNewswire/ -- Nevada Power Company (NYSE: NVP) today reported net income of $18,870,000 for the second quarter ended June 30, 1997, compared with net income of $21,182,000 for the second quarter of 1996. Earnings after requirements for preferred stock dividends were $18,823,000 or $0.38 per average common share compared with $20,192,000 or $0.42 per average common share in 1996. Despite customer growth, earnings decreased primarily due to milder weather and increases in interest, operating and maintenance expenses. Increased interest expense was due to additional financing for infrastructure costs to support customer growth. Operating and ...