Northeast Utilities Inc. expects 2010 earnings at $1.80 to $2 a share following a gain in fourth-quarter and full year 2009 income.
The Hartford utility holding company operates Connecticut Light & Power, Yankee Gas Services and Western Massachusetts Electric Co.
In the fourth quarter, NU earned $84.7 million, or 48 cents a share, up from income of $71.9 million, or 46 cents a share, in the final three months of 2008.
For all 2009, NU earned $330 million, or $1.91 a share, up from $260.8 million, or $1.67 a share, a year earlier.
NU Chairman and CEO Charles Shivery said profits grew despite the dismal economy. However, Shivery said the biggest disappointment was the performance of the company’s power distribution business.
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At 11 a.m., NU was down 5 cents at $26.28.
