Entergy profit up 46%, sets Enexus spin-off

Entergy Inc. on Friday said its net income jumped 46% on strong sales and prices for electricity from its nuclear power fleet.

At the same time, the New Orleans-based power provider dubbed its upcoming spin-off Enexus Energy Company, with trading of the new public listing planned for the third quarter.

Entergy and Enexus will also form a nuclear services joint venture, EquaGen L.L.C.

Entergy said first-quarter net income rose to $308.7 million, or $1.56 a share, from $212.2 million, or $1.03 a share, a year ago.

Revenue for the period increased 6.3% to $2.86 billion from $2.69 billion a year ago.

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- Posted: 2008-04-25 09:11:18

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