WASHINGTON (dpa-AFX) - NiSource Inc (NI) reported a decline in first-quarter 2012 GAAP net income to $193.4 million, or $0.66 per share from $209.5 million, or $0.73 per share in the prior-year quarter. On average, 8 analysts polled by Thomson Reuters expected earnings per share of $0.71 for the quarter. Analysts' estimates typically exclude one-time items.
On a non-GAAP basis, operating earnings for the quarter were $435.5 million compared with $402.1 million for the same period in 2011.
Gross revenues for the quarter slid to $1.70 billion from $2.14 billion in the comparable period last year. Analysts estimated revenues of $2.10 billion for the quarter.
Further, NiSource remains on track to deliver net operating earnings in line with its full-year outlook, which for 2012 is $1.40 - $1.50 per share, while 9 analysts project earnings of $1.44 for the full year. The company also is proceeding with a robust 2012 capital investment program of about $1.4 billion. NiSource also continues to maintain its core financial commitments, including stable, investment grade credit ratings and a secure, attractive dividend.
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