Posted By: John Steele

Mon Nov 6, 9:39 AM ET

NEW YORK (Reuters) - Northeast Utilities (NYSE:NU - news) on Monday
said it swung to a third-quarter profit, mainly due to the
absence of divestiture charges that weighed on year-ago
results.
ADVERTISEMENT

if (window.yzq_a == null) document.write("");if (window.yzq_a)
{
yzq_a('p', 'P=HIR42ELaS.akSvqM2qdblg_aSDRIwkVPmx0ACQfj&T=17751t8gv%2fX%3d1162844957%2fE%3d7665819%2fR%3dnews%2fK%3d5%2fV%3d1.1%2fW%3d8%2fY%3dYAHOO%2fF%3d4086025441%2fH%3dY2FjaGVoaW50PSJuZXdzIiBjb250ZW50PSJpdDtidXNpbmVzcztlbmVyZ3k7aW5mcmFzdHJ1Y3R1cmU7IiByZWZ1cmw9IiIgdG9waWNzPSIi%2fS%3d1%2fJ%3d84A949D1');
yzq_a('a', '&U=13ap4k5c6%2fN%3dMbiADELaX9k-%2fC%3d380914.7494514.10118468.2577455%2fD%3dLREC%2fB%3d4010560');
}

The New England power company posted a profit in the third
quarter of $111.5 million, or 72 cents per share, compared with
a loss of $94.5 million, or 73 cents per share, a year earlier.

The company reiterated its full-year earnings target of
$1.57 to $1.70 per share for its regulated business and parent
company. The company did not provide a 2006 earnings estimate
for its competitive business, which it continues to exit.

For 2007, the company expects to earn $1.30 to $1.55 per
share. Going forward, the company expects earnings per share to
grow between 10 percent and 14 percent annually, largely driven
by capital investments in its regulated businesses.

Northeast expects to spend $925 million on capital
expenditures for 2006 and nearly $4.9 billion from 2007 to
2011, including some $1.2 billion in 2007.

"We have substantially exited our competitive businesses
and are building much of the energy infrastructure New England
needs," Chief Executive Charles Shivery said in a statement.

The information reported above is property of Yahoo! inc. and reprinted or modified with legitimate permission.