The company said that the higher annual ongoing results reflect improved performance by the company’s core businesses and a full year of results from the former Cinergy assets, compared to only nine months in 2006.
The company reported diluted EPS of $1.21 or $1.53 billion in net income for 2007, substantially all from continuing operations, compared to $1.57 of reported diluted EPS in 2006, or $1.86 billion in net income, which includes $0.91 of EPS from continuing operations and $0.66 of EPS from discontinued operations (primarily the natural gas operations that were spun off in January 2007 to become Spectra Energy).
For the fourth quarter of 2007, ongoing diluted earnings per share (EPS) was $0.27, compared to $0.23 for the fourth quarter of 2006. The company said that the higher quarterly ongoing results reflect improved performance by all of the company’s business segments. Reported EPS for the fourth quarter of 2007 was $0.21, compared to $0.31 for the fourth quarter of 2006.
James Rogers, Duke Energy’s chairman and CEO, said: We had a strong year. I’m extremely proud of our employees and their many accomplishments. We had great financial results and excellent operations and made significant progress on our legislative and regulatory initiatives.
