UIL Holdings Corporation Reports Q4 EPS of $0.25 vs. $0.27

UIL Holdings Corporation UIL today reported consolidated net income of $54.9 million, or $1.53 per basic share, an increase in net income of $0.6 million, and a decrease of $0.41 per basic share, compared to 2009. Excluding the impact of the gas distribution acquisition and transition related activities, earnings for 2010 were $61.3 million, or $2.04 per share, an increase of 5% on an earnings per share basis when compared to the same period in 2009. For the fourth quarter of 2010, earnings were $12.4 million, or $0.25 per basic share, compared to net income of $6.7 million, or $0.22 per basic share, for the same period in 2009. Excluding the impact of the gas distribution acquisition and transition related activities, earnings for the fourth quarter of 2010 were $10.4 million, or $0.35 per share, an increase of 58% on an earnings per share basis when compared to the same period in 2009.