Archive for Thursday, May 6, 2004

Aquila reports another quarterly loss

May 6, 2004

Advertisement

— Aquila Inc. reported a first-quarter loss of $51.8 million Wednesday, a total nearly identical to its loss in the quarter a year ago despite a slight increase in sales.

The loss of 26 cents per share in the quarter ending March 31 compares with a loss of 27 cents per share, or $51.9 million, in the year ago period. Sales for the quarter were $553.2 million, compared to $522.8 million a year ago.

Analysts surveyed by Thompson First Call had expected a loss of 11 cents per share.

It was the eighth consecutive quarter in which the company reported a loss. Aquila has been selling assets to pay off debt after deciding to leave the wholesale energy trading business.

Aquila provides natural gas services to customers in Lawrence.

Shares of Aquila closed at $4.26 per share, down 11 cents, in trading Wednesday on the New York Stock Exchange.

Commenting has been disabled for this item.