YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
After releasing its earnings Oct. 27, the investor-owned utility yesterday determined that $1.3 million of pre-tax losses as of Sept. 30 related to its gas hedging program should be reclassified from other comprehensive income to fuel expense.
The changes decrease earnings from 78 cents to 75 cents per fully diluted share. Earnings per share in third-quarter 2004 were 63 cents.
Earnings for the 12 months ended Sept. 30 changed from $25.3 million, or 98 cents per share, to $24.5 million, or 95 cents per share.
Empire District Electric serves more than 157,000 customers in southwest Missouri, southeast Kansas, northeast Oklahoma and northwest Arkansas with electric, fiber optic, Internet and information software services.
Shares of the company’s stock (NYSE: EDE) closed Nov. 8 at $20.30, compared to a 52-week range of $19.25 to $25.01.
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