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

Article Stock Quotes (1) Comments (0)

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.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• UPDATE: Applied Materials, Inc. (AMAT) Tops Q2 EPS by 3c, Offers Guidance
• Autodesk, Inc. (ADSK) Misses Q1 EPS by 3c, Offers Guidance
• Agilent (A) Tops Q2 EPS by 9c, Trims FY13 Outlook; Adds to Buyback, Will Cut Jobs

Create E-mail Alert Related Categories

Corporate News, Guidance

Related Entities

Earnings

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?