News Releases

NV Energy Reports Second Quarter Earnings

Aug 1, 2011
4:00am

LAS VEGAS, Aug. 1, 2011 /PRNewswire/ -- NV Energy, Inc. (NYSE: NVE) today announced financial results for the three months and six months ended June 30, 2011.

(Logo:  http://photos.prnewswire.com/prnh/20100825/LA55163LOGO)

NV Energy Consolidated Results

Periods ended June 30



Net Income

Earnings


($Millions)

Per Share (Diluted)







2011

2010

2011

2010

Three Months

$12.9

$36.9

$0.05

$0.16

Six Months

$15.2

$35.2

$0.06

$0.15



"Mild weather, completion of the Harry Allen Generating Station and regulatory adjustments were key factors affecting our second quarter results," said Michael Yackira, president and chief executive officer of NV Energy, Inc.  "Looking ahead, we remain focused on reducing costs, improving efficiency, and building value for shareholders."

The second quarter of 2011 reflects $8.6 million of pre-tax adjustments to amounts previously recorded in connection with energy efficiency and conservation programs. These adjustments, which adversely affected results, followed a May 2011 decision by the Public Utilities Commission of Nevada.

Results for the second quarter of 2010 included a $7.6 million pre-tax gain on a May 2010 asset sale, and the results of  NV Energy's California operations, which were sold effective January 1, 2011.

Webcast Scheduled for 7:00 a.m. PDT today, Monday, August 1, 2011

Senior management of NV Energy will review the company's second quarter 2011 financial results and other matters during a conference call and live webcast today, Monday, August 1, at 7:00 a.m. Pacific Daylight Time.

The webcast will be accessible on the NV Energy website at: www.nvenergy.com.

A taped replay will remain on the company's website for approximately 90 days.  To listen to the replay by telephone, call (800) 475-6701. International callers should dial (320) 365-3844. Use the conference call access code, 208893.

Headquartered in Las Vegas, NV Energy, Inc. is a holding company whose principal subsidiaries, Nevada Power Company and Sierra Pacific Power Company, are doing business as NV Energy. Serving a 45,592 square-mile service territory that stretches north to south from Elko to Laughlin, NV Energy provides a wide range of energy services and products to approximately 2.4 million citizens of Nevada as well as approximately 40 million tourists annually.

This press release may contain forward-looking statements regarding the future performance of NV Energy, Inc. and its subsidiaries, Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy, within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from current expectations. These risks and uncertainties include, but are not limited to, NV Energy Inc.'s ability to maintain access to the capital markets, NV Energy Inc.'s ability to receive dividends from its subsidiaries, the financial performance of NV Energy Inc.'s subsidiaries, particularly Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy, and the discretion of NV Energy Inc.'s Board of Directors with respect to the payment of future dividends based on its periodic review of factors that ordinarily affect dividend policy, such as current and prospective financial condition, earnings and liquidity, prospective business conditions, regulatory factors, and dividend restrictions in NV Energy Inc.'s and its subsidiaries' financing agreements. For Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy, these risks and uncertainties include, but are not limited to, future economic conditions both nationally and regionally, changes in the rate of industrial, commercial and residential growth in their service territories, their ability to procure sufficient renewable energy sources in each compliance year to satisfy the Nevada Renewable Energy Portfolio Standard, changes in environmental laws and regulations, construction risks, their ability to maintain access to the capital markets for general corporate purposes and to finance construction projects, employee workforce factors, including changes in and renewals of collective bargaining agreements, strikes or work stoppages, unseasonable weather, drought, threat of wildfire and other natural phenomena, explosions, fires, accidents, mechanical breakdowns that may occur while operating and maintaining an electric and natural gas system,  their ability to purchase sufficient fuel, natural gas and power to meet their power demands and natural gas demands for Sierra Pacific Power Company d/b/a NV Energy, financial market conditions, and unfavorable rulings in their pending and future regulatory filings. Additional cautionary statements regarding other risk factors that could have an effect on the future performance of NV Energy, Inc., Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy are contained in their quarterly reports on Form 10-Q for the quarter ended March 31, 2011, and Annual Reports on Form 10-K for the year ended December 31, 2010, each filed with the Securities and Exchange Commission. NV Energy Inc., Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy undertake no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

NV ENERGY, INC.

CONSOLIDATED INCOME STATEMENTS

(Dollars in Thousands, Except Per Share Amounts)

(Unaudited)


















Three Months Ended


Six Months Ended


June 30,


June 30,


2011


2010


2011


2010









OPERATING REVENUES

$      674,931


$      782,683


$   1,315,914


$   1,497,172









OPERATING EXPENSES:








Fuel for power generation

156,803


181,662


303,141


403,281

Purchased power

160,308


165,321


295,324


272,684

Gas purchased for resale

24,984


25,154


77,616


90,713

Deferred energy

(8,106)


54,933


(10,058)


72,499

Other operating expenses

97,547


101,388


203,521


208,014

Maintenance

32,186


28,860


61,948


54,589

Depreciation and amortization

89,606


84,696


172,708


165,644

Taxes other than income

14,684


15,939


30,929


32,112

Total Operating Expenses

568,012


657,953


1,135,129


1,299,536

OPERATING INCOME

106,919


124,730


180,785


197,636









OTHER INCOME (EXPENSE):








Interest expense (net of AFUDC-debt: $2,835, $5,926, $9,045 and $10,864)

(80,879)


(80,772)


(158,222)


(160,836)

Interest income (expense) on regulatory items

(4,062)


(2,997)


(7,824)


(5,068)

AFUDC-equity

3,522


7,138


11,164


13,091

Other income

4,439


15,401


10,297


21,278

Other expense

(9,087)


(9,659)


(13,743)


(12,725)

Total Other Income (Expense)

(86,067)


(70,889)


(158,328)


(144,260)

Income Before Income Tax Expense

20,852


53,841


22,457


53,376









Income tax expense

7,964


16,895


7,239


18,151









NET INCOME

$        12,888


$        36,946


$        15,218


$        35,225









Amount per share basic and diluted








Net income per share basic and diluted

$            0.05


$            0.16


$            0.06


$            0.15









Weighted Average Shares of Common Stock Outstanding - basic

235,867,068


234,995,083


235,697,687


234,927,239

Weighted Average Shares of Common Stock Outstanding - diluted

237,278,546


236,134,449


237,027,656


235,965,452

Dividends Declared Per Share of Common Stock

$            0.12


$            0.11


$            0.24


$            0.22



NV ENERGY, INC.

CONSOLIDATED OPERATING STATISTICS AND FINANCIAL HIGHLIGHTS

(unaudited)





























ELECTRIC SALES - MWh's

(in thousands)

Three Months Ended June 30,



Six Months Ended June 30,












2011


2010


Change from
Prior Year




2011


2010


Change from
Prior Year















Residential

2,248


2,425


-7.3%




4,371


4,599


-5.0%

Commercial

1,760


1,826


-3.6%




3,331


3,423


-2.7%

Industrial

2,669


2,632


1.4%




4,968


4,908


1.2%

 TOTAL RETAIL

6,677


6,883


-3.0%




12,670


12,930


-2.0%

Other

55


54


1.9%




113


113


0.0%

 TOTAL

6,732


6,937


-3.0%




12,783


13,043


-2.0%



















ELECTRIC SALES - MWh's (EXCLUDING CALIFORNIA)*

(in thousands)

Three Months Ended June 30,


Six Months Ended June 30,


















2011


2010


Change from
Prior Year


Average
Change in
Customers


2011


2010


Change from
Prior Year


Average
Change in
Customers

















Residential

2,248


2,361


-4.8%


0.9%


4,371


4,448


-1.7%


0.9%

Commercial

1,760


1,791


-1.7%


0.5%


3,331


3,344


-0.4%


0.6%

Industrial

2,669


2,607


2.4%


-1.3%


4,968


4,846


2.5%


-1.0%

 TOTAL RETAIL

6,677


6,759


-1.2%




12,670


12,638


0.3%



Other

55


54


1.9%




113


113


0.0%



 TOTAL

6,732


6,813


-1.2%


0.8%


12,783


12,751


0.3%


0.8%



















GAS SALES - Dth

(in thousands)

Three Months Ended June 30,


Six Months Ended June 30,














2011


2010


Change from Prior Year


2011


2010


Change from Prior Year













 TOTAL RETAIL

2,871


2,852


0.7%


9,405


8,836


6.4%



ELECTRIC SOURCES - MWh's

(in thousands)

Three Months Ended June 30,




Six Months Ended June 30,


























2011


2010


Change from
Prior Year




2011


2010


Change from
Prior Year















Generated

4,464


4,809


-7.2%




8,286


9,430


-12.1%

Purchased

2,822


2,557


10.4%




5,504


4,283


28.5%

 TOTAL

7,286


7,366






13,790


13,713

















DEGREE DAYS-SOUTH














Heating

85


119


-28.6%




1,131


1,170


-3.3%

Cooling

985


995


-1.0%




1,017


1,006


1.1%















DEGREE DAYS-NORTH














Heating

883


869


1.6%




3,198


2,984


7.2%

Cooling

112


137


-18.2%




112


137


-18.2%











CAPITAL STRUCTURE








(dollars in thousands)

June 30, 2011


June 30, 2010









Current maturities of long-term debt

$    135,991


1.5%


$           357,163


4.1%

Long-term debt

5,151,590


59.9%


5,242,442


59.5%

Total debt

$ 5,287,581


61.4%


$        5,599,605


63.6%

Total shareholders' equity

3,319,706


38.6%


3,210,763


36.4%

Total capitalization (including current maturities of long-term debt)

$ 8,607,287


100.0%


$        8,810,368


100.0%



















AVAILABLE LIQUIDITY AS OF JUNE 30, 2011 (dollars in millions)




NVE


NPC


SPPC

Cash and Cash Equivalents



$    5.2


$                 26.3


$               76.1

Balance available on Revolving Credit Facilities



N/A


445.5


237.5

Less reduction for hedging transactions



N/A


(4.5)


(0.9)




$    5.2


$               467.3


$             312.7









* Represents results for 2011 and 2010 excluding amounts related to the California operations which were sold on January 1, 2011.



NEVADA POWER COMPANY

CONSOLIDATED INCOME STATEMENTS

(Dollars in Thousands)

(unaudited)


















Three Months Ended


Six Months Ended


June 30,


June 30,


2011


2010


2011


2010









OPERATING REVENUES

$ 473,898


$ 539,395


$ 863,966


$ 965,194









OPERATING EXPENSES:








Fuel for power generation

114,744


132,067


215,814


288,182

Purchased power

122,408


124,740


217,974


195,967

Deferred energy

2,350


39,960


9,080


59,423

Other operating expenses

61,935


63,292


127,036


130,011

Maintenance

19,325


18,219


41,662


35,238

Depreciation and amortization

61,913


57,654


119,586


112,755

Taxes other than income

9,046


9,793


19,104


19,819

Total Operating Expenses

391,721


445,725


750,256


841,395

OPERATING INCOME

82,177


93,670


113,710


123,799









OTHER INCOME (EXPENSE):








Interest expense (net of AFUDC-debt: $2,330, $5,444, $8,120 and $9,976)

(55,736)


(53,996)


(107,769)


(107,352)

Interest income (expense) on regulatory items

(1,982)


(777)


(3,433)


(808)

AFUDC-equity

2,855


6,398


9,953


11,760

Other income

2,676


2,659


6,308


5,242

Other expense

(5,179)


(5,172)


(7,911)


(6,304)

Total Other Income (Expense)

(57,366)


(50,888)


(102,852)


(97,462)

Income Before Income Tax Expense

24,811


42,782


10,858


26,337









Income tax expense

8,748


12,998


3,815


8,879









NET INCOME

$   16,063


$   29,784


$     7,043


$   17,458



NEVADA POWER COMPANY

OPERATING STATISTICS AND FINANCIAL HIGHLIGHTS

(unaudited)

































ELECTRIC SALES - MWh's
















(in thousands)

Three Months Ended June 30,


Six Months Ended June 30,






























2011


2010


Change from
Prior Year


Average
Change in
Customers


2011


2010


Change from
Prior Year


Average
Change in
Customers

















Residential

1,781


1,886


-5.6%


1.1%


3,310


3,405


-2.8%


1.1%

Commercial

1,073


1,086


-1.2%


0.4%


1,988


1,994


-0.3%


0.4%

Industrial

2,027


1,988


2.0%


-1.0%


3,723


3,648


2.1%


-1.1%

 TOTAL RETAIL

4,881


4,960


-1.6%




9,021


9,047


-0.3%



Other

51


50


2.0%




105


105


0.0%



 TOTAL

4,932


5,010


-1.6%


1.0%


9,126


9,152


-0.3%


1.0%

















ELECTRIC SOURCES - MWh's














(in thousands)

Three Months Ended June 30,




Six Months Ended June 30,
















2011


2010


Change from
Prior Year




2011


2010


Change from
Prior Year















Generated

3,487


3,699


-5.7%




6,260


7,130


-12.2%

Purchased

1,718


1,550


10.8%




3,301


2,407


37.1%

 TOTAL

5,205


5,249






9,561


9,537































DEGREE DAYS














Heating

85


119


-28.6%




1,131


1,170


-3.3%

Cooling

985


995


-1.0%




1,017


1,006


1.1%











CAPITAL STRUCTURE








(dollars in thousands)

June 30, 2011


June 30, 2010









Current maturities of long-term debt

$    135,991


2.1%


$       357,163


5.5%

Long-term debt

3,465,040


54.2%


3,475,347


53.9%

Total debt

$ 3,601,031


56.3%


$    3,832,510


59.4%

Total shareholder's equity

2,798,628


43.7%


2,614,530


40.6%

Total capitalization (including current maturities of long-term debt)

$ 6,399,659


100.0%


$    6,447,040


100.0%



SIERRA PACIFIC POWER COMPANY

CONSOLIDATED INCOME STATEMENTS

(Dollars in Thousands)

(unaudited)


















Three Months Ended


Six Months Ended


June 30,


June 30,


2011


2010


2011


2010

OPERATING REVENUES:








Electric

$ 164,582


$ 202,877


$ 343,199


$ 411,539

Gas

36,448


40,405


108,742


120,425

Total Operating Revenues

201,030


243,282


451,941


531,964









OPERATING EXPENSES:








Fuel for power generation

42,059


49,595


87,327


115,099

Purchased power

37,900


40,581


77,350


76,717

Gas purchased for resale

24,984


25,154


77,616


90,713

Deferral of energy - electric - net

(11,898)


8,725


(23,829)


7,225

Deferral of energy - gas - net

1,442


6,248


4,691


5,851

Other operating expenses

34,687


37,014


74,903


76,367

Maintenance

12,861


10,641


20,286


19,351

Depreciation and amortization

27,693


27,042


53,122


52,889

Taxes other than income

5,599


6,098


11,623


12,164

Total Operating Expenses

175,327


211,098


383,089


456,376

OPERATING INCOME

25,703


32,184


68,852


75,588









OTHER INCOME (EXPENSE):








Interest expense (net of AFUDC-debt: $505, $482, $925 and $888)

(16,774)


(17,113)


(33,720)


(34,158)

Interest income (expense) on regulatory items

(2,080)


(2,220)


(4,391)


(4,260)

AFUDC-equity

667


740


1,211


1,331

Other income

1,177


10,142


3,229


11,897

Other expense

(3,554)


(4,401)


(5,148)


(6,270)

Total Other Income (Expense)

(20,564)


(12,852)


(38,819)


(31,460)

Income Before Income Tax Expense

5,139


19,332


30,033


44,128









Income tax expense

1,627


8,017


9,945


15,693









NET INCOME

$     3,512


$   11,315


$   20,088


$   28,435



SIERRA PACIFIC POWER COMPANY

OPERATING STATISTICS AND FINANCIAL HIGHLIGHTS

(unaudited)































ELECTRIC SALES - MWh's















(in thousands)

Three Months Ended June 30,


Six Months Ended June 30,













2011


2010


Change from
Prior Year




2011


2010


Change from
Prior Year

















Residential

467


539


-13.4%




1,061


1,194


-11.1%


Commercial

687


740


-7.2%




1,343


1,429


-6.0%


Industrial

642


644


-0.3%




1,245


1,260


-1.2%


 TOTAL RETAIL

1,796


1,923


-6.6%




3,649


3,883


-6.0%


Other

4


4


0.0%




8


8


0.0%


 TOTAL

1,800


1,927


-6.6%




3,657


3,891


-6.0%


















































ELECTRIC SALES - MWh's (EXCLUDING CALIFORNIA)*

(in thousands)

Three Months Ended June 30,


Six Months Ended June 30,


















2011


2010


Change from
Prior Year


Average
Change in
Customers


2011


2010


Change from
Prior Year


Average
Change in
Customers

















Residential

467


475


-1.7%


0.3%


1,061


1,043


1.7%


0.3%

Commercial

687


705


-2.6%


0.6%


1,343


1,350


-0.5%


1.1%

Industrial

642


619


3.7%


-4.8%


1,245


1,198


3.9%


0.0%

 TOTAL RETAIL

1,796


1,799


-0.2%




3,649


3,591


1.6%



Other

4


4


0.0%




8


8


0.0%



 TOTAL

1,800


1,803


-0.2%


0.3%


3,657


3,599


1.6%


0.4%


































GAS SALES - Dth















(in thousands)

Three Months Ended June 30,




Six Months Ended June 30,













2011


2010


Change from
Prior Year




2011


2010


Change from
Prior Year

















 TOTAL RETAIL

2,871


2,852


0.7%




9,405


8,836


6.4%



































ELECTRIC SOURCES - MWh's

(in thousands)

Three Months Ended June 30,




Six Months Ended June 30,















2011


2010


Change from
Prior Year




2011


2010


Change from
Prior Year



















Generated

977


1,110


-12.0%




2,026


2,300


-11.9%



Purchased

1,104


1,007


9.6%




2,203


1,876


17.4%



 TOTAL

2,081


2,117






4,229


4,176





















DEGREE DAYS
















Heating

883


869


1.6%




3,198


2,984


7.2%



Cooling

112


137


-18.2%




112


137


-18.2%





































CAPITAL STRUCTURE
















(dollars in thousands)

June 30, 2011


June 30, 2010

























Current maturities of long-term debt

$                      -


0.0%


$                     -


0.0%









Long-term debt

1,180,051


55.5%


1,281,500


55.9%









Total debt

$          1,180,051


55.5%


$        1,281,500


55.9%









Total shareholder's equity

945,771


44.5%


1,012,710


44.1%









Total capitalization (including current maturities of long-term debt)

$        2,125,822


100.0%


$      2,294,210


100.0%









































* Represents results for 2011 and 2010 excluding amounts related to the California operations which were sold on January 1, 2011.



Gross margin is presented by Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy in order to provide information that management believes aids the reader in determining how profitable the electric and gas business is at the most fundamental level. Gross margin, which is a "non-GAAP financial measure" as defined in accordance with SEC rules, provides a measure of income available to support the other operating expenses of the business and is utilized by management in its analysis of its business.

Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy believe presenting gross margin allows the reader to assess the impact of regulatory treatment and their overall regulatory environment on a consistent basis. Gross margin, as a percentage of revenue, is primarily impacted by the fluctuations in electric and natural gas supply costs versus the fixed rates collected from customers. While these fluctuating costs impact gross margin as a percentage of revenue, they only impact gross margin amounts if the costs cannot be passed through to customers. Gross margin, which Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy calculate as operating revenues less energy costs, provides a measure of income available to support the other operating expenses. Gross margin changes are based primarily on general base rate adjustments (which are required to be filed by statute every three years). Reconciliations between GAAP operating income and gross margin are provided in tables herein. These non-GAAP measures should not be considered as substitutes for the GAAP measures.

NV Energy, Inc.

Consolidated Gross Margin

(dollars in thousands)



Three Months Ended June 30,


Six Months Ended June 30,


2011


2010


Change from
Prior Year %


2011


2010


Change from
Prior Year %













Operating Revenues:

$ 674,931


$ 782,683


-13.8%


$ 1,315,914


$ 1,497,172


-12.1%













Energy Costs:












Fuel for power generation

156,803


181,662


-13.7%


303,141


403,281


-24.8%

Purchased power

160,308


165,321


-3.0%


295,324


272,684


8.3%

Gas purchased for resale

24,984


25,154


-0.7%


77,616


90,713


-14.4%

  Deferred energy

(8,106)


54,933


-114.8%


(10,058)


72,499


-113.9%


$ 333,989


$ 427,070


-21.8%


$    666,023


$    839,177


-20.6%













Gross Margin

$ 340,942


$ 355,613


-4.1%


$    649,891


$    657,995


-1.2%













Other operating expenses

97,547


101,388




203,521


208,014



Maintenance

32,186


28,860




61,948


54,589



Depreciation and amortization

89,606


84,696




172,708


165,644



Taxes other than income

14,684


15,939




30,929


32,112















Operating Income

$ 106,919


$ 124,730


-14.3%


$    180,785


$    197,636


-8.5%



Nevada Power Company 

Gross Margin

(dollars in thousands)



Three Months Ended June 30,


Six Months Ended June 30,


2011


2010


Change from
Prior Year %


2011


2010


Change from
Prior Year %













Operating Revenues:

$ 473,898


$ 539,395


-12.1%


$ 863,966


$ 965,194


-10.5%

























Energy Costs:












Fuel for power generation

114,744


132,067


-13.1%


215,814


288,182


-25.1%

Purchased power

122,408


124,740


-1.9%


217,974


195,967


11.2%

Deferred energy

2,350


39,960


-94.1%


9,080


59,423


-84.7%


$ 239,502


$ 296,767


-19.3%


$ 442,868


$ 543,572


-18.5%













Gross Margin

$ 234,396


$ 242,628


-3.4%


$ 421,098


$ 421,622


-0.1%













Other operating expenses

     61,935


     63,292




127,036


130,011



Maintenance

     19,325


     18,219




41,662


35,238



Depreciation and amortization

     61,913


     57,654




119,586


112,755



Taxes other than income

       9,046


       9,793




19,104


19,819















Operating Income

$   82,177


$   93,670


-12.3%


$ 113,710


$ 123,799


-8.1%



Sierra Pacific Power Company

Gross Margin

(dollars in thousands)



Three Months Ended June 30,


Six Months Ended June 30,


2011


2010


Change from
Prior Year %


2011


2010


Change from
Prior Year %













Operating Revenues:












Electric

$ 164,582


$ 202,877


-18.9%


$ 343,199


$ 411,539


-16.6%

Gas

36,448


40,405


-9.8%


108,742


120,425


-9.7%


$ 201,030


$ 243,282


-17.4%


$ 451,941


$ 531,964


-15.0%













Energy Costs:












Fuel for power generation

$   42,059


$   49,595


-15.2%


87,327


115,099


-24.1%

Purchased power

37,900


40,581


-6.6%


77,350


76,717


0.8%

Gas purchased for resale

24,984


25,154


-0.7%


77,616


90,713


-14.4%

Deferral of energy - electric - net

(11,898)


8,725


-236.4%


(23,829)


7,225


-429.8%

Deferral of energy - gas - net

1,442


6,248


-76.9%


4,691


5,851


-19.8%


$   94,487


$ 130,303


-27.5%


$ 223,155


$ 295,605


-24.5%













Energy Costs by Segment:












Electric

$   68,061


$   98,901


-31.2%


$ 140,848


$ 199,041


-29.2%

Gas

26,426


31,402


-15.8%


82,307


96,564


-14.8%


$   94,487


$ 130,303


-27.5%


$ 223,155


$ 295,605


-24.5%













Gross Margin by Segment:












Electric

$   96,521


$ 103,976


-7.2%


$ 202,351


$ 212,498


-4.8%

Gas

10,022


9,003


11.3%


26,435


23,861


10.8%


$ 106,543


$ 112,979


-5.7%


$ 228,786


$ 236,359


-3.2%













Other operating expenses

34,687


37,014




74,903


76,367



Maintenance

12,861


10,641




20,286


19,351



Depreciation and amortization

27,693


27,042




53,122


52,889



Taxes other than income

5,599


6,098




11,623


12,164















Operating Income

$   25,703


$   32,184


-20.1%


$   68,852


$   75,588


-8.9%



SOURCE NV Energy, Inc.

For further information: Analyst Contacts, Max Kuniansky, +1-702-402-5627, or Britta Carlson, +1-702-402-5624, or media, Karl Walquist, +1-775-834-3891