AGL Resources, an Atlanta-based energy services company, has reported a net income of $74 million, or $0.97 per diluted share, for the fourth quarter of 2008, compared to $66 million, or $0.86 per diluted share, for the same period of 2007.
The company has reported a net income of $217 million, or $2.84 per diluted share, for the year 2008, compared to $211 million, or $2.72 per diluted share, for the year 2007. AGL Resources has reported operating revenues of $2.8 billion for the year 2008, compared to $2.49 billion for the year 2007.
For the fourth quarter of 2008, the company has reported operating revenues of $805 million, compared to $685 million for the same period of 2007.
According to the company, energy investments segment contributed earnings before interest and taxes (EBIT) of $19 million in 2008, compared to $15 million in 2007. Operating margin increased $10 million, primarily due to higher contributions from AGL Networks related to a network expansion project and higher revenues at Jefferson Island Storage & Hub.
John Somerhalder II, chairman, president and CEO of AGL Resources, said: “Our performance in 2008 is a result of the fundamentals of our business. We take a view of managing our business, and despite the challenges during receding economy, we are taking steps to build a better foundation for future growth.”
