SCANA reports $72 million profit

CAYCE, S.C. – SCANA Corp. posted second quarter net income of $72 million, or 54 cents per share, versus $56 million, or 43 cents per share, last year.

During the second quarter, increases in electric and gas margins principally from base rate increases were partially offset by increases in operations and maintenance, interest, depreciation, and property tax expenses, and share dilution.

“Year to date, increases in electric margin were partially offset by lower gas margins in Georgia due to the mild weather in the first quarter,” said Jimmy Addison, executive vice president and chief financial officer.

Total operating revenues declined to $908 million from $1 billion last year. The company affirmed its guidance for 2012 basic earnings per share to be in the range of $3.05 to $3.25.

The company, owner of SCE&G, serves approximately 669,000 electric customers in South Carolina and more than 1.2 million natural gas customers in South Carolina, North Carolina and Georgia.

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