Piedmont Natural Gas (PNY) announced that its third-quarter net loss was $7.3 million or $0.10 per share, compared to a loss of $7.7 million or $0.10 per share for the same period in 2008. Analysts polled by Thomson Reuters expected the company to report a loss of $0.11 per share. Analysts' estimates typically exclude special items.
Operating revenues for the quarter were $180.20 million, compared to $354.71 million in the prior year quarter.
For the nine months ended July 31, 2009, net income was $127.1 million or $1.73 per share, compared to net income of $123.2 million or $1.67 per share for the same period in 2008. Operating revenues for the period declined to $1.42 billion from $1.78 billion in the corresponding period of the prior year.
Piedmont Natural Gas said that it is narrowing its fiscal 2009 earnings guidance to a range of $1.50 - $1.60 per share, from the prior outlook of $1.45 - $1.60 per share. Analysts expect the company to report earnings of $1.56 per share for fiscal 2009.
For comments and feedback: editorial@rttnews.com