Alliant (LNT) to Record 9c/Share Loss in Q311 Due to RMT, Inc. Business

October 24, 2011 4:33 PM EDT
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Alliant Energy Corporation (NYSE: LNT) expects to record losses of approximately $0.09 per share in the third quarter of 2011 relating to its RMT, Inc. (RMT) business within non-regulated operations. The losses are largely due to issues RMT is experiencing with one of its solar subcontractors. Schedule delays, abandonment of work by the original subcontractor, and the need to hire another subcontractor to complete the project work have resulted in significant additional costs for RMT. RMT has filed a lawsuit against the subcontractor; however Alliant Energy is currently unable to predict the outcome of this lawsuit and thus, RMT has not recognized any potential benefits from the recovery of damages.

Alliant currently believes that these unanticipated losses will not cause the Company's consolidated earnings to fall outside of the 2011 consolidated earnings guidance range issued in December 2010 and updated in May 2011.

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