UPDATE: Nicor Reports Decline In Q2 Profit

Nicor Inc GAS reported a decline in its second-quarter net income on Wednesday. Nicor reported its quarterly net income at $19.2 million, or $0.42 per share, down from $24.2 million, or $0.53 per share, in the year-ago period. Its revenue surged 12% y/y to $477 million from $425.6 million. However, analysts were expecting earnings of $0.31 per share on revenue of $396 million. Nicor projects 2011 diluted earnings per share in the range of $2.30 to $2.50. Nicor shares dropped 1.71% to close at $53.99 yesterday.