Westar Reports Higher 1Q Profits

By: AP
By: AP

TOPEKA, Kan. (AP) _ Westar Energy says an income tax benefit and higher sales contributed to profits more than doubling during the first quarter.

But without the tax benefit, the largest electric utility in Kansas came in under Wall Street expectations.

For the three months ending March 31, Topeka-based Westar today reported earning almost 61 million dollars, or 63 cents per share. That compares to year-ago earnings of just under 30 million dollars, or 34 cents per share.

In a release, Westar added that earnings also reflected the company selling 10.3 million additional shares since last year to pay for the company's growth.


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