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Article: Upper Peninsula Energy Corporation reports financial results.
- Article from:
- PR Newswire
- Article date:
- October 31, 1989
CopyrightCOPYRIGHT 1989 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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UPPER PENINSULA ENERGY CORPORATION REPORTS FINANCIAL RESULTS
HOUGHTON, Mich., Oct. 31 /PRNewswire/ -- Upper Peninsula Energy Corporation (OTC: UPEN) reported unaudited consolidated net income of $3,777,000 or $2.56 per average common share for the 12 months ended Sept. 30, 1989. Twelve-month earnings for the same period a year ago were $3.60 per share, of which $.98 is attributable to a gain on the sale of certain transmission facilities to Wisconsin Electric Power Company.
Earnings for the nine months ended Sept. 30, 1989, were $2,764,000 or $1.87 per share, compared to $2,880,000 or $1.98 per share for the same period last year, which included an ...