• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Earnings Of Local Firms

Posted on: Friday, 8 August 2008, 15:00 CDT

MGE Energy Inc.

A $700,000 jump in income from the power plant under construction in Oak Creek helped boost profit in the second quarter for the parent company of Madison Gas & Electric Co. That helped offset a 0.9% decline in electricity sales during the quarter, MGE said, as higher sales to large factories were offset by a 6.7% decline in sales to residential customers due to cool weather. MGE has an 8% ownership stake in the power plant being built for Milwaukee-based We Energies. After the announcement, MGE shares closed at $33.98, down 53 cents.

2nd quarter %

6/30 2008 2007 change

Sales $124.7 $110.5 +12.8%

Net income 10.6 10.0 +5.9

EPS (diluted) 0.48 0.47 +2.1

6 months

Sales $314.7 $278.4 +13.0

Net income 24.4 22.3 +9.5

EPS (diluted) 1.11 1.05 +5.7

Assisted Living Concepts Inc.

A stock repurchase program contributed to a sharp increase in earnings per share in the second quarter. The chain of assisted- living centers, based in Menomonee Falls, has bought 8.2 million shares of its common stock at a total cost of $60.4 million and an average price of $7.36 a share through Monday. Assisted Living Concepts stock closed Thursday at $6.23, up 15 cents.

2nd quarter %

6/30 2008 2007 change

Sales $57.9 $57.4 +0.7%

Net income 4.3 4.2 +2.5

EPS (diluted) 0.07 0.06 +16.7

Six months

Sales $118.1 $114.9 +2.7%

Net income 8.3 8.9 -6.4

EPS (diluted) 0.13 0.13 0

Figures in millions except for earnings per share. Percentages are based on unrounded sales and income figures.

Copyright 2008, Journal Sentinel Inc. All rights reserved. (Note: This notice does not apply to those news items already copyrighted and received through wire services or other media.)

(c) 2008 Milwaukee Journal Sentinel. Provided by ProQuest Information and Learning. All rights Reserved.

Source: Milwaukee Journal Sentinel

More News in this Category