RENO (AP) - Despite Nevada's slower growth rate, the state's largest power company has reported an increase in its fourth-quarter and yearly earnings.
NV Energy Inc. on Friday said its net income for the quarter ending Dec. 31 was $14.2 million, or 6 cents a share, up from $4.2 million, or 2 cents a share, in the same period in 2009.
Its quarterly revenue fell to $655 million from $773 million a year ago.
For the year, the Las Vegas-based utility reported net income of $227 million, or 97 cents a share, up from $183 million, or 78 cents a share, in 2009.
The company attributes the earnings to a rate increase and cost-control efforts.
The utility serves electricity customers in Nevada and natural gas customers around Reno.
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