Solar integrator Tampa Electric reports income growth

5 February 2010

Florida, US-based integrated electric utility Teco Energy’s subsidiary Tampa Electric, which recently constructed a solar energy project at Tampa’s Lowry Park Zoo, reported a net income for the fourth quarter 2009 of $39.1m compared with $28.9m for the same period in 2008.

Tampa Electric’s 2009 fourth quarter non-GAAP results were $39.3m compared to $30.8m in 2008.

The company’s retail energy sales increased 1.1 per cent in the fourth quarter due to hotter than normal weather early in the quarter and sales to industrial and phosphate customers declined 14 per cent, which it said reflects the weak Florida economy and planned outages at phosphate customer facilities.

Net income in 2009 was $160.2m, compared to $135.6m in 2008 and Tampa Electric’s full-year non-GAAP results were $176.7m, which excluded the $11.3m of restructuring charges and the $5.2m write-off of project development costs, compared to non-GAAP results of $137.5m in 2008.

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Tags: solar

This story was published on Friday, February 5th, 2010 at 4:19 pm and is filed under North America, companies, energy efficiency, solar. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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