EARNINGS / Canadian Utilities reports Results for 1997
CALGARY, Feb. 17 /CNW/ - Canadian Utilities Limited, an ATCO Company,
reported earnings attributable to Class A and Class B shares for the year
ended December 31, 1997 of $181.5 million ($2.85 per share) on revenues of
$1,927.6 million. Comparative figures for 1996 were earnings of $171.3 million
($2.68 per share) on revenues of $1,813.1 million.
Cash flow from operations for the year ended December 31, 1997 was $401.6
million compared to $383.0 million in 1996.
The 1997 earnings reflect strong operating performance by all of the
Corporation's units and were achieved despite temperatures that were 18.7%
warmer than 1996 in the Corporation's main service areas. Significant factors
impacting 1997 results were lower financing costs and increased sales in the
Corporation's electric power operations.
Earnings attributable to Class A and Class B Shares for the three months
ended December 31, 1997 were $51.7 million ($0.82 per share) on revenues of
$518.4 million compared with $49.7 million ($0.78 per share) on revenues of
$518.8 million in the previous year.
Cash flow from operations for the three months ended December 31, 1997
was $112.8 million compared to $104.2 million in 1996.
The ATCO Group of Companies is engaged in electric power generation,
transmission and distribution; natural gas gathering, processing,
transmission, storage and distribution; workforce housing and technical
facilities management. |
