January 27, 2012
NStar Revenue, Profit Up Slightly
By Rick Saia
NStar reported slight jumps in revenue and net income during 2011, according to financial statements released yesterday.
The utility, which serves much of MetroWest, reported $275.9 million in adjusted net income for the year, a rise of 2.3 percent from the $269.5 million it earned in 2010. The 2011 earnings excluded $6.4 million in costs related to its planned merger with Northeast Utilities of Connecticut, which is still going through the regulatory approval process both there and in Massachusetts.
NStar also reported net earnings for the fourth quarter of $55.2 million, or 53 cents per share. That’s up from $51.3 million and 49 cents per share in the fourth quarter of 2010.
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