Monday, Nov. 8, 2010 | 10:27 a.m.
Southwest Gas Corp. of Las Vegas today said its third quarter loss narrowed on lower revenue.
Losses, which are normal in the third quarter for the seasonal business, came in at $4.8 million or 11 cents per share in the most recent quarter vs. $8.3 million or 18 cents per share in 2009's third quarter.
Revenue of $307.7 million was down from $317.5 million for the company, which serves Nevada and parts of Arizona and California.
Higher rates in Nevada boosted operating margin by $1 million, while the company added 17,000 customers during the last 12 months, boosting operating margin in the quarter by another $1 million.
Operating margin is defined as operating revenue less the cost of gas sold.
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