Business
EPCOR Announces Quarterly Results
EPCOR Announces Quarterly Results
About this update from Capital Power Corporation
[{"type":"text","content":"\n\n\n\nNov. 6, 2009 (Canada NewsWire Group) -- EDMONTON, Nov. 6 /CNW/ -- EPCOR Utilities Inc. (EPCOR) today released its quarterly results for the period ended September 30, 2009. \"Looking beyond the Capital Power transaction, our performance for the third-quarter was on target. We are now beginning to see the benefits of the Gold Bar Wastewater Treatment Plant transfer on March 31 of this year. We believe that we are in a strong position for growth going forward, and our fourth-quarter results will reflect the recently-announced Suncor potable and domestic wastewater assets acquisition.\"\"The Capital Power transaction, which closed at the beginning of the third quarter, resulted in the sale of the generation business to Capital Power at a fair value which was lower than the book value, resulting in a loss recorded in this quarter's results,\" said Don Lowry, President and CEO. \"We had anticipated this result and noted an estimate of the loss in our second quarter Interim Report.\"Highlights of EPCOR's financial performance:- Cash flow from operating activities for the three months endedSeptember 30, 2009 was $65 million compared with $139 million for thecorresponding period in the previous year.- Cash flow from operating activities for the nine months endedSeptember 30, 2009 was $316 million compared with $278 million forthe corresponding period in the previous year.- Net loss was $56 million on revenues of $350 million for the threemonths ended September 30, 2009 compared with net income of$76 million on revenues of $954 million for the corresponding periodin the previous year.- Net income was $98 million on revenues of $1,980 million for the ninemonths ended September 30, 2009 compared with $160 million onrevenues of $2,618 million for the corresponding period in theprevious year.- Other comprehensive income was $9 million for the three months endedSeptember 30, 2009 compared with $6 million for the correspondingperiod in the previous year.- Other comprehensive income was $13 million for the nine months endedSeptember 30, 2009 compared with $30 million for the correspondingperiod in the previous year.- Investment in capital projects for the three months endedSeptember 30, 2009 was $65 million compared with $171 million for thecorresponding period in the previous year.- Investment in capital projects for the nine months en...