Public Service Enterprise Group has reported income from continuing operations of $434 million or $0.85 per share for the first quarter of 2008, compared to $321 million or $0.63 per share for the same period of 2007.
Excluding the premium on bond redemptions of $1 million recognized during the first quarter of 2008, operating earnings for the first quarter were $435 million or $0.85 per share. Operating earnings were the same as income from continuing operations for the same period of 2007.
Including income from discontinued operations, Public Service Enterprise Group (PSEG) reported net income of $448 million or $0.88 per share for the first quarter of 2008, compared to net income of $329 million or $0.65 per share for the same period of 2007.
Ralph Izzo, chairman, president and CEO of PSEG, said: Our first quarter results highlight our continued focus on strong operations across the system. Our operational focus allows PSEG to maintain a competitive cost structure and provide a reliable product to our customers.