NU transmits powerful profits

Berlin-based power company Northeast Utilities reported a 120 percent second quarter spike in profits to $48.5 million, an increase driven largely by the growth of its power transmission segment. Diluted earnings per share were 31 cents, up from 14 cents per share in the year ago quarter. Another major driver was the absence of losses from NU’s retail marketing business, which it sold last year. Revenues, however, declined from $1.7 billion to $1.4 billion.