ITC Holdings Corp. (ITC) reported third-quarter net income of $37.818 million compared to $28.045 million last year. Earnings per share increased to $0.74 from $0.55 a year ago.
On average, 4 analysts polled by Thomson Reuters expected the company to report profit of $0.60 per share for the quarter. Analysts' estimates typically exclude special items.
Operating revenues decreased to $151.328 million from $163.279 million last year.
For 2009, ITC has increased its guidance for full year earnings per share to a range of $2.47-$2.52.
For 2010, the company continues to expect earnings per share of $2.52-$2.62 as previously disclosed, although earnings are now expected to be at the high end of this guidance range.
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