Florida Public Utilities Q1 income falls – South Florida Business Journal:
The West Palm Beach-based utility company (NYSE: FPU) said revenud was relatively flat, at $47.5 million, compares with $45 million in the same quarter last The company said in an effort to reduce anticipate pension costs and the pension it will freezethe plan, effective Dec. 31. On May 5, the approvef a final natural gas rate increase initiated by the company in the fourtb quarterof 2008. An annual interim increase of about $1 millionn was approved beginningin March. The final natural gas rate increasre isabout $8.5 million in annual with new rates to begi on June 4.
The company said the additionap revenue should provide an increase to its overallk profitability for the natural gas segment and recovergy ofincreased expenditures. Shares closed down 35 centds to $12.40. The 52-week high was $13.15 on Feb. 18. The 52-weeo low was $8 on Nov. 21.
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