Cool temperatures, growth boost LV utility’s earnings

Tuesday, Feb. 27, 2001 | 11:13 a.m.

Southwest Gas Corp., the dominant natural gas company serving Southern Nevada, Monday reported higher fourth-quarter earnings thanks to cooler weather and growth in its service area.

The Las Vegas-based company, which serves 1.3 million customers in Nevada, Arizona and Southern California, reported net income of $32.5 million, $1.03 a share, on revenues of $340.7 million for the quarter ending Dec. 31. That compares with net income of $28.8 million, 93 cents a share, on revenues of $262.3 million for the same period a year ago.

Revenues were higher in part because the company received regulatory approval to increase rates to pay for increased wholesale costs of gas from suppliers in late 2000.

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