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March 14, 2008

Maine & Maritimes makes turnaround in 07

Maine & Maritimes Corp., based in Presque Isle, yesterday reported its 2007 net income was $1.6 million, a nice turnaround from the nearly $6 million loss the company posted in 2006.

The company, which owns Maine Public Service Co., credits the turnaround with a renewed focus on its core utility businesses. Last year, the company shed several non-utility unregulated businesses, including its real estate, technology and engineering ventures.

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