DENVER—Xcel Energy Inc., Colorado’s largest electricity provider, said Wednesday its fourth-quarter profit jumped 37 percent as revenue climbed for natural gas and electric businesses.
For the quarter that ended Dec. 31, the Minneapolis-based utility said net income totaled $134 million, or 31 cents per share, compared with $97.7 million, or 23 cents per share, in the year-ago quarter.
Income from continuing operations was 30 cents per share, excluding a gain stemming from a settlement with the Internal Revenue Service. That compared with 22 cents per share in the fourth quarter of 2006.
Analysts polled by Thomson Financial expected, on average, a profit of 38 cents per share.
Total operating revenue was $2.6 billion, up from $2.47 billion in the previous fourth quarter. Electric utility operating revenue rose 5.4 percent to $1.91 billion and natural gas utility revenue increased 5.1 percent to $669.3 million.
For the full year 2007, Xcel earned $577.3 million, or $1.35 per share, compared with $571.8 million, or $1.36 per share, for 2006. Revenue rose to $10.03 billion from $9.84 billion in 2006.
Xcel has regulated operations in eight states.
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