US-based Westar Energy has reported earnings of $91.5 million, or $0.99 per share, for the third quarter 2007 compared with earnings of $89.8 million, or $1.03 per share, for the third quarter 2006.
The company reported earnings of $153.9 million, or $1.71 per share for the nine months ended September 30, 2007, compared with $151.5 million, or $1.73 per share, for the same period in 2006. The lower year-to-date per share results were due to an increase in the number of shares outstanding from equity issuances made in 2007.
Westar reported revenues of $548.5 million for the third quarter 2007, $32.5 million higher than revenues of $515.9 million for the same period in 2006. Retail sales were up $7.7 million due primarily to warmer weather this year. Wholesale sales increased $13.3 million due primarily to a wholesale sales agreement entered into in April 2007.
The company reported the other income and expense was $2.4 million of expense compared with $1.2 million of income for the same period in 2006. The change between periods is due primarily to reduced income from corporate-owned life insurance.