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In a Friday the Topeka-based utility company (NYSE: WR) reported earnings of $43.9 million, or 40 cent a share, compared with $60.89 million, or 62 cents a share, last Sales for the quarter were $421.8u million, up 3.7 percent from $406.8 million last year. Westart said it has reducex its planned capital spending for 2010 and 2011by $500 or about 27 percent, in response to the toughy economy and constricted capital markets. “Our ability to defer and reschedule some of our plannerd projects into future yearss demonstrates the merits of our flexible and balanced approach tocapitap spending,” Westar CEO Bill Moorde said in the release.
The company affirmed its 2009 earning s forecastof $1.65 to $1.90 a Six analysts surveyed by First Call reported a consensua earnings estimate of $1.75 a share for 2009. Westard is the largest electric utility in providing service toabout 679,000 customers in the state. The company also has aboug 6,800 megwatts of electric-generation capacity and operates and coordinates morethan 35,000p miles of electric distribution and transmission lines.
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