This excerpt taken from the IDA 10-Q filed Oct 31, 2007.
Third Quarter 2007 Summary
IDACORP earnings per share from
continuing operations of $0.65 versus $0.76 in 2006. Diluted earnings per
share were $0.65 versus $1.03 in 2006.
o Third quarter 2006 included $0.27 per share from sale of IDACORP Technologies included in discontinued operations
Poor hydroelectric generating
conditions and increased operating
o Warm, dry weather and customer growth increased utility energy sales
BOISE--IDACORP, Inc. (NYSE:IDA) today reported third quarter net income of $28.9 million as compared with $44.0 million in 2006. Third quarter diluted earnings per share decreased by $0.38 from the third quarter 2006 to $0.65 per share. Third quarter 2006 results included the benefits of the sale of IDACORP Technologies (ITI) of $11.5 million or $0.27 per share.
"Income from continuing operations declined in the third quarter versus last year as drought conditions required increased reliance on wholesale energy purchases and operation of our natural gas fired power plants to meet heavy summer loads," said IDACORP President and Chief Executive Officer J. LaMont Keen. "When combined with anticipated increases in other costs of operation, the higher transmission and power supply expenses more than offset the benefit of increased revenues.
"We filed for general rate relief in our Idaho jurisdiction in June in order to include increased operating costs and a return on new capital investments in our regulatory cost structure on a more timely basis. On October 19, the procedural schedule for the case was extended for six weeks by mutual consent of the parties. The extension allows other parties to the case to review Idaho Power's third quarter results before filing their testimony. Any rate change is now expected to become effective in February 2008."
This excerpt taken from the IDA 10-Q filed Aug 8, 2007.
Second Quarter 2007 Summary
IDACORP diluted earnings per share of $0.42 versus $0.47 in 2006
o Warm and dry weather boosted retail energy sales
o Poor hydro conditions and increased operations and maintenance expenses reduced operating income
Earnings comparability negatively
impacted by significantly lower
BOISE--IDACORP, Inc. (NYSE:IDA) reports second quarter net income of $18.5 million as
compared with $19.9 million in 2006. Second quarter diluted earnings per share
decreased by $0.05 from the second quarter 2006 to $0.42 per share.