Company reports diluted earnings per share of $2.46 for 2013
Reaffirms full year 2014 guidance of $2.60 - $2.75 per diluted share
Announces a quarterly dividend of $0.40 per share, payable March 31, 2014
SIOUX FALLS, S.D. - February 19, 2014 - NorthWestern Corporation d/b/a NorthWestern Energy (NYSE: NWE) reported financial results for the year ended December 31, 2013. Net income was $94.0 million, or $2.46 per diluted share, for the year ended December 31, 2013, compared with net income of $98.4 million, or $2.66 per diluted share, for the year ended December 31, 2012. While year-over-year earnings declined, 2012 earnings contained several significant items including a $24.0 million impairment related to a transmission project in the third quarter and a $47.9 million gain on an arbitration decision in the fourth quarter last year.
"We are pleased our 2013 earnings are within our increased guidance range of $2.45 - $2.60, even inclusive of approximately $0.11 of expense related to the pending hydro transaction not originally contemplated in guidance.” said Bob Rowe, Chief Executive Officer. "And while the success of the hydro transaction is paramount to our customers, investors and employees, we remain committed to excellence on all the other fronts that continue to move us forward. In addition, we are happy to announce our Board of Directors approved a 5.3%, or $0.08 annualized, increase in our 2014 dividend."
The following information was filed by Northwestern Corp (NWE) on Wednesday, February 19, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: NWE CIK: 73088 Form Type:10-K Annual Report Accession Number: 0000073088-14-000041 Submitted to the SEC: Tue Feb 18 2014 6:27:56 PM EST Accepted by the SEC: Wed Feb 19 2014 Period: Tuesday, December 31, 2013 Industry: Electric And Other Services Combined