In the first quarter of 2007, the company was engaged in selling its international businesses and that resulted in a charge of $307 million, or $1.39 per share, that was not repeated in the first quarter of 2008.
CMS Energy’s first quarter adjusted results, which exclude the effects of asset sales and certain other items, also were $103 million, or $0.44 per share, consistent with the company’s plan. In the first quarter of 2007, the company had adjusted net income of $92 million, or $0.42 per share, primarily excluding asset sale related charges.
David Joos, president and CEO of CMS Energy, said: We are pleased with our progress and will continue to implement our ‘Growing Forward’ strategy. Our plan is to invest more than $6 billion over the next five years in energy efficiency, renewable energy, environmental and customer service enhancements, and new power generation.
