Duke Energy Corporation has added a news release to its Investor Relations website. Title: Duke Energy Reports Second-Quarter 2008 Results Date(s): 8/5/2008 7:02:00 AM
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* Adjusted diluted earnings per share total 27 cents, compared with 24 cents in the second quarter of 2007
* Reported diluted EPS was 28 cents vs. 23 cents in second quarter of 2007
* Combined adjusted segment EBIT results at U.S. Franchised Electric and Gas, Commercial Power and International improved $156 million or 26 percent, compared to the second quarter of 2007
CHARLOTTE, N.C., Aug. 5 /PRNewswire-FirstCall/ -- Duke Energy (NYSE: DUK) today reported adjusted diluted earnings per share (EPS) of 27 cents for the second-quarter 2008, versus 24 cents for the same period last year.
Second-quarter 2008 reported diluted EPS was 28 cents, compared to 23 cents in second-quarter 2007.
Second-quarter 2008 results reflect continued strong performances by the company's three largest segments, partially offset by a $113 million charge Duke Energy incurred related to impairments recorded by Crescent Resources. Of this amount, $100 million resulted from Crescent's management decision to revise its business strategy and has been reflected as a special item.
"I'm very pleased that Duke Energy's core operations continue to perform well despite challenging conditions caused by volatile fuel prices and economic uncertainty," said Chairman, President and Chief Executive Officer James E. Rogers. "Despite this difficult environment, with our focus on executing our plans, we are positioned for continued success."
Starting in the first-quarter 2008, Duke Energy began presenting adjusted earnings, which excludes the impacts of special items and discontinued operations, as well as the mark-to-market impacts of economic hedges in the Commercial Power segment. Prior to the first-quarter 2008, Duke Energy presented ongoing earnings, which excluded the impacts of special items and discontinued operations. For comparative purposes, ongoing earnings for prior periods have been revised to present results for all periods on the same adjusted earnings basis.
SOURCE Duke Energy
CONTACT: MEDIA: Tom Shiel, +1-704-382-2235 24-Hour, +1-704-382-8333 ANALYSTS: Sean Trauschke, +1-980-373-7905, both of Duke Energy Web site: http://www.duke-energy.com http://wwwqa.duke-energy.com/investors/default.asp
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