Otter Tail Corporation announced financial results for the fourth quarter and year ended Dec. 31.
Highlights are as follows:
- Diluted earnings per share were $0.71 compared with $1.09 in 2008.
- Consolidated revenues decreased to $1.0 billion from a record $1.3 billion in 2008.
- Consolidated net income was $26.0 million compared with $35.1 million in 2008.
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- Operating cash flow increased 46.2 percent to a record $162.7 million compared with $111.3 million in 2008.
- Electric segment net income increased 2.5 percent to $34.1 million.
- Food Ingredient Processing segment net income reached a record $7.4 million.
- The corporation maintains a strong balance sheet, capital structure and liquidity position.
