May 8, 2009 - Edmonton - EPCOR Utilities Inc. (EPCOR) today released its quarterly results for the period ended March 31, 2009.
“EPCOR reported solid first quarter operating results in both our power and water operations,” said EPCOR President & CEO Don Lowry. “The availability and performance of our Genesee power plants was above target and higher than last year, and we continue to execute our capital plan, including construction of power generation at Keephills 3 and Clover Bar Energy Centre, and water and wastewater treatment facilities at the Suncor Voyageur site. A major step in building our water and wastewater treatment expertise was completed this quarter with the transfer of the Edmonton Gold Bar Wastewater Treatment Plant to EPCOR. As a result, we are now better able to develop opportunities inside and outside of Edmonton.”
Highlights of EPCOR’s financial performance:
- Cash flow from operating activities for the three months ended March 31, 2009 was $147 million compared with $99 million for the corresponding period in the previous year.
- Net income was $104 million on revenues of $890 million for the three months ended March 31, 2009 compared with $68 million on revenues of $799 million for the corresponding period in the previous year.
- Other comprehensive income was $22 million for the three months ended March 31, 2009 compared with $23 million for the corresponding period in the previous year.
- Investment in capital projects for the three months ended March 31, 2009 was $136 million compared with $108 million for the corresponding period in the previous year.
Management’s discussion and analysis (MD&A) of the quarterly results are shown below. The MD&A and the unaudited interim financial statements are available on EPCOR’s website (http://www.epcor.ca/) and will be available on SEDAR (http://www.sedar.com/).
EPCOR’s wholly-owned subsidiaries build, own and operate power plants, electrical transmission and distribution networks, water and wastewater treatment facilities and infrastructure in Canada and the United States. EPCOR, headquartered in Edmonton, Alberta, has been named one of Canada’s Top 100 employers for nine consecutive years, and was selected one of Canada’s 10 Most Earth-Friendly Employers. EPCOR’s website is http://www.epcor.ca/.
For more information, contact:
Media inquiries: Tim le Riche (780) 969-8238
Shareholder and analyst inquiries: Randy Mah (780) 412-4297 or toll free (866) 896-4636.
The full news release with interim management’s discussion and analysis is available on epcor.ca