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United States

Enron income up

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Enron Corp, the new owner of America's largest wind company, Zond Corp, reported an increase in its total net income in the first quarter of this year -- $222 million compared to $213 million for the same period a year earlier. First quarter 1997 earnings per share were $0.88 after preferred dividends, compared to $0.86 for the same period in 1996. Revenues in the first quarter of 1997 were $5.3 billion compared to revenues of $3.1 billion in the first quarter of 1996. The earnings, reported on April 11, covered the period when Enron completed its purchase of Zond. Enron's higher earnings reflected performance in both the company's older and new business units, notes Kenneth Lay, Enron's chairman and Chief Executive Officer. He specifically mentions the purchase of Zond in his report, which recently signed the largest wind energy contract in history to supply 112.5 megawatts of wind generated electricity to a major midwest utility (Windpower Monthly, April 1997).

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