Questar Corp., the Salt Lake City energy company and parent of Questar Gas, reported it generated record income for its recently completed 2011 fiscal year, eclipsing the previous record set a year earlier.
The company said net income grew 8 percent over the previous year and reached $207.9 million, or $1.16 per share. For its 2010 fiscal year, Questar reported income from continuing operations of $192.3 million, or $1.08 per share.
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President and CEO Ronald Jibson noted in a statement announcing year-end and fourth-quarter performance that all of the company’s business units achieved strong results in 2011.
"Wexpro grew net income by 8 percent and its investment base by 4 percent, to $474.4 million, compared with 2010," he said. "Questar Gas grew net income by 5 percent, while Questar Pipeline earnings improved 1 percent over 2010’s results."
For the fourth quarter, Questar Corp. said net income totaled $61.6 million, or 34 cents per share, compared with $63.7 million, or 36 cents per share for the fourth quarter of 2010.
Steven Oberbeck
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