Edison Int. posts 4 quarter loss

By Anastasia Tomazhenkova: A public utility holding company Edison International posted that its quarterly earnings fell to 211 million dollars, or 64 cents a share, from 288 million dollars, or 87 cents a share, a year earlier, when it recorded one-time gains from taxes and asset sales.

Exclude special items, earnings were 65 cents a share, unchanged from a year ago.

The Rosemead, Calif., energy holding company said income from continuing operations declined to 214 million dollars, or 65 cents a share, from 266 million dollars, or 80 cents a share.

Quarterly operating revenues rose 4.7% to 3.211 million dollars from 3.067 million dollars in the same quarter last year. Three analysts estimated revenues of 3.50 billion dollars.

On average, analysts polled by Thomson Financial expected per-share earnings of 58 cents, excluding some items, on revenue of 3.5 billion dollars.

For fiscal 2007, the company's net profit was 1.098 million dollars or 3.33 dollars a share compared to 1.181 million dollars or 3.58 dollars a share in the previous year.

Excluding non-core items, 2007 core earnings increased 20% to 3.69 dollars a share from 3.07 dollars a share last year, reflecting strong operating performance at Southern California Edison and Edison Mission Group.

Edison expects 2008 earnings of 3.61 dollars to 4.01 dollars a share.

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Author`s name: Editorial Team