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November 12, 2009

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Company reports loss

Tuesday, Aug. 9, 2005 | 11:20 a.m.

Southwest Gas Corp. of Las Vegas this morning reported a second-quarter net loss of $2.8 million, or 7 cents a share, narrower than the loss of $8.4 million, or 24 cents a share, in the same 2004 quarter.

The improved results were largely attributed to normal weather conditions throughout the company's operating territory of Nevada, Arizona and California. The company also said it benefited from rate relief in California and Nevada.

Operating revenue increased to $361 million for the quarter, up from $279 million a year ago.

Southwest Gas said it has added about 84,000 customers in the past 12 months, which contributed about $5 million to operating margin, defined as operating revenue minus the cost of gas sold. Rate relief in California and Nevada added about $4 million to margin.

Southwest Gas typically reports a loss in the second and third quarters, making its profit in the colder first and fourth quarters of the year.

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