Staff Report
Published Oct. 28, 2009

SCANA Corp. reported higher results for this year’s third quarter, helped in part by the resolution of a state tax issue.

The tax decision will bring a refund of $15 million plus interest to the company, said CFO and Senior Vice President Jimmy Addison. “The impact of this favorable decision more than offset several negative factors, including lower electric and natural gas margins, higher operations and maintenance expenses and dilution during the quarter,” Addison said in a statement.

For the nine months ended Sept. 30, SCANA reported earnings of $272 million, or $2.23 per share, compared with $260 million, or $2.22 per share, for the same period in 2008.

The company also updated its earnings outlook for investors, with a projection of $2.85 to $2.95 per share, which is on the upward end of its earlier range.