KOTA Territory NewsBlack Hills Corp. falls to 3rd qtr. loss
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SIOUX FALLS, S.D. (AP) _ Diversified energy company Black Hills Corporation says it fell to a third-quarter loss as continued low natural gas prices reduced its oil and gas and energy marketing income and lowered electric utility sales margins.
The Rapid City-based company reported a net loss of $2.2 million, or 6 cents per share, in the three months ended Sept. 30.
That compares to a profit of $164.9 million, or $4.29 per share, in the previous year's quarter.
Black Hills says the recent quarter's results included a $5.7 million, or 15 cents per share, loss attributed to interest rate swaps.
CEO David Emery says the company is not satisfied with its bottom-line results in 2009. But he says Black Hills is confident that planned capital expenditures will lead to strong earnings growth in the coming years.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
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