Progress Energy reports decrease in revenue
Article published on Wednesday, Feb. 21, 2007
PINELLAS COUNTY – Progress Energy reported full-year net income of $571 million or $2.28 per share, compared to $697 million or $2.82 per share for the same period last year.
The variance in ongoing earnings was caused by “unfavorable results from our non-core operations due to lower synthetic fuel production and the impact of recording a 35 percent reserve against the value of 2006 synthetic fuel tax credits. Also affecting our earnings was mild weather,” said a Progress Engery news release.
Article published on Wednesday, Feb. 21, 2007
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