NiSource Inc (NI) swung to a net profit for the quarter ended Sep. 30, 2016. The company has made a net profit of $4.40 million, or $ 0.06 a share in the quarter, against a net loss of $3.70 million, or $0.06 a share in the last year period. Revenue during the quarter plunged 289.74 percent to $7.40 million from $3.90 million in the previous year period. Total expenses were 5.41 percent of quarterly revenues, up from 56.41 percent for the same period last year.
Operating income for the quarter was $7 million, compared with an operating loss of $6.10 million in the previous year period.
“The NiSource team continues to execute on our customer-focused utility investment programs and regulatory initiatives supporting those programs," said NiSource President and Chief executive officer Joseph Hamrock. “These programs benefit our customers with a safer, more reliable system that provides enhanced service and meets their energy needs. With our solid execution in 2016, and with the confidence in our ability to continue to execute on our investment programs, we're issuing 2017 non-GAAP net operating earnings guidance of between $1.12 and $1.18 per share."
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