NorthWestern Reports First Quarter 2011 Financial Results

NorthWestern Corporation d/b/a NorthWestern Energy NWE reported financial results for the quarter ended March 31, 2011. Net income improved $3.9 million to $32.6 million, or $.89 per fully diluted share, for the first quarter of 2011 compared with $28.7 million, or $.79 per fully diluted share, in the first quarter of 2010 due primarily to: An increase in gross margin of $14.9 million primarily due to the addition of the Dave Gates Generating Station at Mill Creek (DGGS), and an increase in electric and natural gas volumes largely due to colder winter weather; Lower income tax expense of $3.0 million, primarily due to the regulatory flow-through treatment of accelerated depreciation deductions; Offset by an increase of $13.9 million in our operating expenses due primarily to increased operating costs, property taxes, and depreciation related to the addition of DGGS. In addition, we had increased labor costs and increased operating and maintenance costs primarily for proactive line maintenance.