Aquila Cuts 2nd Quarter Loss on Gas

1 decade 1 year 6 months ago Saturday, August 04 2007 Aug 4, 2007 Saturday, August 04, 2007 3:01:20 AM CDT August 04, 2007 in News
Source: (Copyright 2007 The Associated Press All Rights Reserved.)

KANSAS CITY (AP) - Regional utility Aquila reports a much smaller second-quarter loss than a year ago as it approaches a shareholder vote on its sale. Kansas City-based Aquila credits improved performance from its remaining utilities and fewer restructuring actions than a year ago. It reported a loss of nearly 15 million dollars, or four cents per share. That compares with a year-ago loss of 155 million dollars, or 41 cents a share. The company owns utilities in Missouri, Kansas, Colorado, Iowa and Nebraska. Aquila announced in February that it's being acquired by Great Plains Energy and Black Hills Corporation in separate transactions for 2.6 billion dollars. Aquila shareholders had been expected to vote on the proposal this summer, but chief executive Rick Green says voting will probably take place toward the end of September.

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