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Alliant Energy reports 5% drop in quarterly net income

MADISON, WI (WTAQ) - The parent company of Wisconsin Power and Light reports a five percent drop in its net income for the second quarter of the year.

Alliant Energy of Madison said Thursday it made almost $62 million from April through June, down from $65 million at the same time a year ago.

Stockholder earnings dropped from 59 cents a share to 56, after outside analysts predicted earnings of 60 cents a share.

Alliant partially blames a cooler summer than last, with a reduction in the use of air conditioners. Other factors involved credits for consumer bills, and higher costs at Alliant's utility in Iowa.

The company did say its industrial and commercial electric sales rose, due to an improved economy. Residential electric revenues went down.

(Story courtesy of Wheeler News Service)