Business
Capital Power reports third quarter 2010 results and announces completion of Island Generation acquisition
Capital Power reports third quarter 2010 results and announces completion of Island Generation ac...
About this update from Capital Power Corporation
[{"type":"text","content":"\n\n\n\n Oct. 29, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nEDMONTON, Oct. 29 /CNW/ - Capital Power Corporation ("Capital Power", or\n the "Company") (TSX: CPX) today released its financial results for the\n three and nine month periods ended September 30, 2010.  Normalized net\n income, after adjusting for one-time items and fair value adjustments,\n was $12 million or $0.55 per share in the third quarter of 2010 while\n net income was $7 million or $0.32 per share for the same period.  For\n the nine month period ending September 30, 2010, normalized net income\n was $25 million or $1.15 per share and net income was $12 million or\n $0.55 per share.\n\n\n"The Company had solid performance in the third quarter of 2010," said\n Brian Vaasjo, President and CEO of Capital Power Corporation. "Although\n Alberta spot power prices remained low in the third quarter, the\n strategy to sell forward a substantial portion of our Alberta power\n portfolio for 2010 when prices were higher, has resulted in our\n captured price being 26% higher than the average Alberta spot power\n price for the first nine months of the year. Our financial performance\n in the first nine months of the year, as measured by normalized\n earnings per share, is tracking slightly ahead of plan and we are well\n positioned to meet our earlier full year guidance for 2010."\n\n\n"On October 19th, we successfully completed the acquisition of the 275 megawat...