CH Energy Group Reports 2010 and Fourth-Quarter Earnings

CH Energy Group, Inc. CHG today reported 2010 annual earnings of $2.44 per share, 32 cents per share lower than the prior year, when earnings totaled $2.76 per share. Two unusual events (a 2009 one-time gain resulting from the sale of assets of 34 cents, and 52 cents worth of impairment taken during 2010 related to non-core investments in renewable energy) had significant impacts on the annualized results. Normalized for those items, 2010 earnings per share would have totaled $2.96, versus $2.42 in 2009