Monday, March 1, 1999 | 12:12 p.m.
Nevada Power said a clerical error had caused it on Feb. 5 to overstate December revenue by about $3.9 million.
Today's earnings restatement also reflected an order from the Public Utilities Commission that adjusted Nevada Power's energy cost account balances, resulting in a one-time write-off of about $800,000.
The combined effect was a reduction in earnings per share of 4 cents for 1998 and by 5 cents in the fourth quarter.
In 1998, Nevada Power earned $83.7 million or $1.64 per share on revenue of $874 million. In 1997, the company earned $83.2 million or $1.65 per share on revenue of $799 million.
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