Northland Power Q3 net loss down

Comtex News Network

Nov 26, 2012 (Datamonitor via COMTEX) --Northland Power Inc., a provider of electricity from natural gas and renewable sources, has reported a net loss of C$22.16 million for the third quarter ended September 30, 2012, compared to a net loss of C$71.55 million for the same quarter ended September 30, 2011.

Sales for the third quarter ended September 30, 2012 were C$82.92 million, compared to C$80.85 million for the same quarter ended September 30, 2011.

Net loss for the nine months ended September 30, 2012 was C$7.37 million, compared to a net loss of C$39.87 million for the same period ended September 30, 2011.

Sales for the nine months ended September 30, 2012 were C$269.06 million, compared to C$257.37 million for the same period ended September 30, 2011.

John Brace, Northland's President and CEO, said: "Northland's geographically and technologically diverse portfolio of generating assets performed well in the third quarter. Our facilities largely performed to our expectations, and subsequent to quarter end our Kingston, Ontario facility completed its planned major maintenance outage on schedule. Looking ahead, Northland is well-positioned to continue to deliver strong and stable returns to our shareholders as we complete our current projects and continue to advance our pipeline of attractive new development opportunities."

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