Empire District Electric Co. drops 4 cents in price per diluted share

Joplin-based Empire District Electric Co. (NYSE: EDE) announced yesterday its quarterly earnings, indicating a price per diluted share cost decrease from the second-quarter 2009.

Price per diluted share this quarter was 18 cents, compared to 22 cents in second-quarter 2009, according to a news release.

Consolidated earnings for the quarter were $7.4 million, a drop from $7.6 million in 2009's second quarter, the release said.

Earnings in the third quarter this year could be upped by a May 19 Missouri Public Service Commission approved rate increase for the company's Missouri electric customers. The increased rates will take effect in September with the condition that the company's Plum Point Generating Facility meets in-service criteria by Aug. 15, the release said.

The rate increase would be approximately $46.8 million, the release said.

Empire District Electric Co. operates regulated electric, gas and water utilities for approximately 215,000 customers in Missouri, Kansas, Oklahoma and Arkansas, according to its Web site.

As of late morning July 30, the company's stock quote was $19.59, with a 52-week range of $17.57 to $20.41.[[In-content Ad]]