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Growth, profit reported

Thursday, Feb. 14, 2002 | 9:54 a.m.

Sierra Pacific Resources, parent of Nevada Power Co., today reported a fourth quarter profit of $5.8 million or 6 cents per share vs. a loss in the year-ago quarter of $18.2 million or 23 cents per share.

Revenue of $723 million was up from $598 million.

The utility's Nevada Power subsidiary, which has two major rate hike requests pending, reported strong growth in its customer count as the Las Vegas-area economy continued to expand in 2001. Nevada Power had about 639,000 customers at year-end, up from 598,000 at the end of 2000.

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