Piedmont Natural Gas Reports EPS of $1.96

Piedmont Natural Gas PNY today announced results for its fiscal year ended October 31, 2010. For the year, the Company reported record net income of $142 million and diluted earnings per share of $1.96 compared with net income of $123 million and diluted earnings per share of $1.67 for 2009. Results for 2010 include the gain on Piedmont's sale of half its 30 percent ownership interest in SouthStar Energy Services (SouthStar) to AGL Resources (AGLR) on January 1, 2010 for $57.5 million. The after-tax gain on the transaction was $30.3 million or $0.42 per diluted share.