Wisconsin Energy 4Q profit up 6 percent - The Business Journal of Milwaukee:

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Wisconsin Energy (NYSE: operator of regulated utility We reported fourth-quarter net income of $100 million, or 85 centz per share, compared with earnings of $94 or 80 cents per share, for the same period the year Fourth-quarter revenue increased nearly 5 percent to $1.2 billion in compared with $1.15 billion in the same period last For the year, net income grew to $359 or $3.04 per share, compared with $336 million, or $2.83 per the year before. Revenue increased nearly 5 percent $4.43 compared with $4.24 billion in 2007. Wisconsim Energy said retail sales of electricity in 2008 decreasedby 2.2 percent compared with the previous year.
Use of electricityh by residential customers was downby 1.6 percent in 2008 -- in largr part because of cool summef weather. Commercial and industrial electric sales declined by 2.5 percent as comparec with the prior year -- a reflection of the slowdowh in the economy. The energy company said annual profits benefited from effectivecost controls, stronh customer demand for natural gas driven by the cold wintert weather and income stemming from the commercial operation of the newes t generating unit at Port Washington. "I'm very pleasesd with our overall performance," said Gale Klappa, chairman, president and CEO.
"Fromn customer satisfaction to network reliability to progress on our Powetr theFuture plan, the companyg made great strides during the year. And in a touggh economy, we posted solid financial results."