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Yankee Energy Year-End Results
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Business New Haven
12/14/1998
By: BNH
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MERIDEN - Yankee Energy Systems Inc. (NYSE: YES) reported on September 30 its year-end results: net income of $13.0 million, excluding special charges, or $1.24 per diluted share, compared to $16.9 million or $1.62 per share for the 1997 fiscal year. Including special charges for the 1998 fiscal year, earnings were reported at $10.9 million, or $1.04 per diluted share. Decreased earnings for the fiscal 1998 year were the result of customer credits and warmer weather. The special charges were related to the restructuring of the company's HVAC business and other one-time charges.
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