Questar's Net Income Rise in Third Quarter

Questar's Net Income Rise in Third Quarter

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(Salt Lake City-Dow Jones/AP) -- Questar Corporation's third-quarter net income rose 23 percent, primiarly due to a 43 percent increase in realized prices for nonregulated natural gas production.

The integrated natural gas company also boosted 2003 earnings guidance and provided guidance for 2004 for the first time.

Questar says it earned 28-point-seven (M)million dollars for the quarter, or 34 cents a share, up from 23-point-four (M)million dollars, or 28 cents, a year ago.

Earnings per share beat Wall Street's lowered average estimate by a penny. Last month, Questar said it expected to earn between 30 and 34 cents a share in the third quarter, below expectations at the time of 38 cents a share based on analysts surveyed by Thomson First Call.

Revenue for the quarter rose 43 percent to 273-point-five (M)million dollars from 190-point-seven (M)million dollars a year ago.

(Copyright 2003 by The Associated Press. All Rights Reserved.)

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