NorthWestern Corporation, doing business as NorthWestern Energy, has reported a net income of $21.27 million for the fourth quarter ended December 31, 2008, compared to $18.44 million for the same period of 2007.
The company has reported a net income of $67.6 million in 2008, compared to $53.2 million in 2007. NorthWestern Energy has reported operating revenues of $1.26 billion in 2008, compared to $1.2 billion in 2007.
NorthWestern Energy has reported operating revenues of $326.07 million for the fourth quarter ended December 31, 2008, compared to $308.02 million for the same period of 2007.
According to the company, consolidated gross margin for 2008 was $562.1 million compared with $531.7 million for 2007. The increase in gross margin was due to the combination of an increase in electric rates in Montana and gas rates in Montana, South Dakota and Nebraska.
Consolidated operating, general and administrative expenses increased to $226.1 million for the year ended December 31, 2008 as compared with $221.6 million during 2007.
Bob Rowe, president and CEO of NorthWestern Energy, said: “We are delighted with our increase in 2008 net income and prospects for 2009. Our core operations, balance sheet and credit ratings provide to facilitate our proposed generation and transmission projects, which will alleviate congestion and provide additional flexibility to customers.”
