Alaska Power & Telephone Company (OTCPink: APTL.PK) reported revenues for its year ended December 31, 2011 increased 6% to $41.67 million, compared to revenues of $39.31 million for the prior year. Revenues in 2011 benefited from improved results from the company’s regulated electric utility segment and to a lessor extent, higher revenues from the non-regulated segment. These gains were partially offset by a decline in revenues from the company’s regulated telecommunications segment.
Net income for 2011 increased 17.3% to $3.34 million or $2.22 per share versus net income of $2.85 million or $1.91 per share for 2010. Net income in 2011 benefited primarily from lower expenses from the non-regulated segment as well as lower depreciation and amortization expense and lower interest expense.
As of December 31, 2011, the balance sheet reflected current assets of $13.05 million, total assets of $127.17 million, current liabilities of $6.31 million and total liabilities of $92 million. During 2011, stockholders’ equity slipped a modest 0.3% to $35.17 million.
Alaska Power & Telephone Company is a regulated utility supplying electric and telephone service to several communities in the State of Alaska.
Source: Alaska Power & Telephone Company