Piedmont Reports Net Income of $119.8 Million for 2012

Piedmont Natural Gas (NYSE: PNY) announces financial results for its fiscal year ended October 31, 2012.

As quoted in the press release:

For the year, the Company reported net income of $119.8 million and diluted earnings per share of $1.66 compared with net income of $113.6 million and diluted earnings per share of $1.57 for 2011.

Piedmont’s Chairman, President and CEO, Thomas Skains said:

We generated a notable improvement in the growth of our core gas utility business with the addition of over 13,000 new customers to our distribution systems, up 26 percent from our customer additions in 2011. We also successfully executed the largest capital expansion program in the Company’s history, investing over $550 million for core customer growth, expansion to serve new power generation facilities and system infrastructure and pipeline integrity management programs.

To view the whole press release, click here.