New Haven utility operator UIL Holdings Corp. announced Friday a second-quarter earnings increase of 23 percent on the strength of its acquisition of three natural gas subsidiaries last year, two of which are in Connecticut.
UIL reported second quarter net income of $14.2 million, or 28 cents per diluted share, compared to $11.5 million, or 38 cents per share, in the second quarter 2010.
UIL’s revenues for the second quarter were $314 million, up 52 percent from last year’s second quarter revenues of $207.1 million.
UIL attributed its higher earnings to the three natural gas subsidiaries acquired in the fourth quarter 2010: Connecticut Natural Gas Corp., The Southern Connecticut Gas Co., and The Berkshire Gas Co. in Massachusetts.
UIL also is the parent company for New Haven electric utility The United Illuminating Co.
