The operating margin, defined as operating revenues less the cost of gas sold, increased approximately $2.6 million or 2% in the second quarter of 2008, compared to the second quarter of 2007.
For the 12 months ended June 30, 2008, consolidated net income was $80.2 million or $1.87 per basic share, compared to $85.4 million or $2.05 per basic share, during the 12-month period ended June 30, 2007.
Jeffrey Shaw, CEO of Southwest Gas, said: Given the current, challenging economic environment, we were encouraged with the overall operating results for the quarter. However, both our gas operations and construction services segments were negatively impacted by the new construction market slowdown. In addition, the quarterly net loss reflected negative returns on long-term investments related to stock market declines.
