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SIOUX FALLS, S.D. – July 29, 2010 – NorthWestern Corporation d/b/a NorthWestern Energy (NYSE: NWE) reported financial results for the quarter ended June 30, 2010.
Significant achievements for the quarter include:
- Improvement in net income of approximately $5.6 million as compared with 2009, due primarily to income tax benefits and reduced operating, general and administrative expense;
- Issuance of $161 million of Montana First Mortgage Bonds and $64 million of South Dakota First Mortgage Bonds at 5.01%;
- Standard & Poor’s (S&P) added NorthWestern Energy to its SmallCap 600 group of stocks effective at the close of trading April 9, 2010;
- Forbes.com named NorthWestern Energy as one of its top “100 Most Trustworthy Companies” in America; and
- Declares a common stock dividend of 34 cents per share, payable on September 30, 2010, to common shareholders of record as of September15, 2010.
SPECIAL NOTE REGARDING FORWARD—LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, without limitation, the information under “2010 Earnings Outlook”. Forward-looking statements often address our expected future business and financial performance, and often contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” or “will.” These statements are based upon our current expectations and speak only as of the date hereof. Our actual future business and financial performance may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including, but not limited to:
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potential adverse federal, state, or local legislation or regulation or adverse determinations by regulators could have a material adverse effect on our liquidity, results of operations and financial condition;
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changes in availability of trade credit, usage, commodity prices, fuel supply costs or availability due to higher demand, shortages, weather conditions, transportation problems or other developments, may reduce revenues or may increase operating costs, each of which would adversely affect our liquidity;
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unscheduled generation outages or forced reductions in output, maintenance or repairs, which may reduce revenues and increase operating costs or may require additional capital expenditures or other increased operating costs; and
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adverse changes in general economic and competitive conditions in the U.S. financial markets and in our service territories.
Our Annual Report on Form 10-K, recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and other Securities and Exchange Commission filings discuss some of the important risk factors that may affect our business, results of operations and financial condition.
We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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