IDACORP Announces Fourth Quarter and 2005 Results
February 9, 2006
BOISE — IDACORP, Inc. (NYSE:IDA) today reported 2005 net income of $63.7 million ($1.50 per diluted share) as compared with $73.0 million ($1.90 per share) in 2004. Idaho Power Company, IDACORP’s principal operating subsidiary, reported earnings per diluted share of $1.70 in 2005 as compared with $1.71 in 2004. Operating income at Idaho Power Company increased 39.1 percent over 2004 levels to $151.7 million.
“The increase in our operating income at Idaho Power Company over 2004 is indicative of our success in executing our strategy within the core business. Continued strong customer growth combined with timely recovery of our investments in utility infrastructure lifted operating income over 2004 levels,” said IDACORP President and Chief Executive Officer Jan B. Packwood. “The current stream flow forecast indicates better operating conditions in 2006 that should provide the opportunity for further improvement if we are successful in obtaining a favorable resolution to our current Idaho rate case.”
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