October 31, 2008
Dominion Reports Slump in Q3 Net Income
US-based power and natural gas utility Dominion Resources has reported a net income of $508 million, or $0.87 per share, for the third quarter ended September 30, 2008, compared to $2.3 billion, or $3.62 per share, for the same period of 2007.
Operating earnings for the three months ended September 30, 2008, amounted to $545 million, or $0.94 per share, compared to $551 million, or $0.86 per share, for the same period of 2007.
Thomas Farrell II, chairman, president and CEO of Dominion Resources, said: "Amid the present economic turmoil and despite unfavorable weather, our quarterly earnings exceeded the top end of our provided guidance. Year-to-date, we continue to see strong results, driven by our generation and energy infrastructure businesses."