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Tuesday, November 01, 2005 

Entergy 3Q Profit Rises Despite Hurricane Damage


Utility holding company Entergy Corporation reports a 24 percent rise in third-quarter earnings. That comes despite extensive hurricane damages that pushed one of the New Orleans-based company's units into bankruptcy. Entergy, whose service area includes parts of Arkansas, Louisiana, Mississippi, and Texas, also said it could not affirm 2005 earnings guidance due to the uncertainties brought on by the third quarter's storms. After preferred dividends, net income rose to $350 million, or $1.65 per share, from $282.2 million, or $1.22 per share, in the year-earlier quarter. Last year's third quarter results included special items that reduced earnings by 17 cents per share. The company says revenue grew 6 percent, as warmer-than-usual weather spurred greater electricity usage in the residential, commercial and government sectors. Analysts predicted earnings of $1.64 per share on $2.84 billion in revenue. The company also announced a plan to secure $2.5 billion to $3 billion in financing through a combination of debt and equity. The company said it needs the money while it recovers its hurricane-related costs from insurance, the government and by raising rates. Entergy's New Orleans unit filed for bankruptcy on September 23. The unit, which is the smallest of the company's five, contributed 3 cents per share in the latest quarter, versus 6 cents per share a
year ago.

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Entergy income on the rise? The Truth has posted several stories about Entergy and the Attorney General of Arkansas, Mike Beebe...it seems that Mike likes to accept money from utility companies that he regulates.

Flashback:

Mike Beebe has accepted at least $4,000 from Entergy and/or individuals associated with Entergy:

Paul Means, Entergy Lobbyist -- $500.00
Jim Kennedy, Relative of Tom Kennedy, Vice President of Entergy -- $1,000.00
Kristi Kennedy, Daughter of Tom Kennedy, Vice President of Entergy -- $1,000.00
Michael Mauldin, Director of Government Relations, Entergy -- $500.00
Cecil Alexander, Former Director of Government Relations, Entergy -- $1,000.00

I Wonder Why Entergy Is Doing So Well?

Take A Look...

WOW, it just gets worse and worse for Beebe...He needs to refund all donations from Entergy and their executives and apologize to all Arkansans!

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