Topeka ? Westar Energy Inc. reported Wednesday that second-quarter profits fell because of discontinued operations, but the company met analysts’ estimates on per-share net income excluding special items and reaffirmed its outlook for the year.

Westar reported earnings of $13.7 million, or 16 cents per share, down from $27.9 million, 39 cents per share, in the year-ago period. The sale of the company’s Protection One monitored security business in February 2004, which contributed $6.4 million to second quarter net income in 2003, led to the decline in net income.

Excluding special items, earnings were $28.6 million, or 33 cents per share, compared with $25.2 million, or 35 cents per share, for the second quarter of 2003. Analysts surveyed by Thomson First Call had predicted Westar would earn 33 cents per share.

Revenue rose 3.6 percent to $358.4 million from $345.9 million last year, driven by higher sales of retail and wholesale power. Retail revenue increased 2.7 percent to $6.7 million, reflecting higher sales due to warmer weather in the latest period.

Higher retail revenue was partially offset by the sale of a portion of the company’s service territory to Midwest Energy in August 2003 and a $2.1 million accrual for rate rebates that will be paid to retail customers in 2005 and 2006. Second-quarter wholesale revenue rose 12 percent to $99.1 million from $88.7 million a year earlier on increased sales volumes and market pricing.

Westar reaffirmed its previous fiscal 2004 ongoing earnings guidance of $1.50 to $1.60 per share. Analysts surveyed by Thomson First Call predict the company will earn $1.60 per share in fiscal 2004.

Shares of Westar closed unchanged at $20.55 in trading Wednesday on the New York Stock Exchange.

Westar is Kansas’ largest electric company with about 654,000 customers, including Lawrence. Wednesday’s earnings report reflected Westar’s continued focus on returning to its roots as a pure utility company since Jim Haines took over as president and chief executive officer in late 2002.

“It has taken some point to where we are back to talking about the weather, but that’s where we are,” Haines said.