ALLETE Q2 Profit Rises - Quick Facts

(RTTNews) - ALLETE Inc. (ALE) reported second quarter 2016 net income of $24.8 million or $0.50 per share, up from $22.5 million or $0.46 per share in the year ago quarter.

The prior year results included profit recognition of $1.5 million after-tax, or 3 cents per share, for the construction of a wind energy facility which was sold to Montana-Dakota Utilities in the fourth quarter of 2015. Net income in 2015 also included acquisition costs of $0.9 million, or 2 cents per share.

Operating revenue for the quarter declined to $314.8 million from $323.3 million last year.