US-based power utility Southern Company has reported earnings of $185.6 million, or $0.24 per share, for the fourth quarter of 2008, compared with earnings of $204.1 million, or $0.27 per share, for the same quarter of 2007.
The company has reported earnings of $1.74 billion, or $2.26 per share, for the year 2008, compared to earnings of $1.73 billion, or $2.29 per share, for the year 2007.
Revenues for the full year were $17.13 billion, compared with $15.35 billion in 2007. For the fourth quarter of 2008, the company has reported revenues of $3.8 billion, compared to $3.34 billion for the same period of 2007. Excluding the impact of synthetic fuel investments and charges related to the leveraged leases, earnings for the fourth quarter of 2008 were 26 cents a share, compared with 26 cents a share for the same period in 2007, said the company.
David Ratcliffe, CEO of the Southern Company, said: “As our customers are finding ways to manage through this economic recession, we are working to take steps to manage costs in our business and maintain the level of customer satisfaction.
“While we expect these economic challenges to continue through 2009, we continue to execute our business strategy while preparing for the future growth.”
