According to Kenetech Corp, its profits are higher than expected. The San Francisco company, which owns Kenetech Windpower, claims that third quarter revenues more than doubled this year to $90.7 million, up from $39.2 million for the same quarter in 1993. Third quarter profits also rose, according to company reports, to $5.4 million or nine cents per common share after preferred dividends, compared with a net loss a year ago of $705,000, or one cent per share. The quarter ends October 1.
Some analysts who watch the company say the profits were higher than they expected, but they note the results include a settlement for an undisclosed sum with Pacific Gas & Electric Co (Windpower Monthly, September 1994).
The company further claims that total revenues in the second quarter in 1994 were $100 million, and net income was $43 million, or eight cents a share after preferred dividends, compared with total revenues a year earlier of $36 million and a net loss of $7 million or 27 cents a share. There was no preferred stock at that time.
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