Maine & Maritimes posts Q3 results
Maine & Maritimes Corp. in Presque Isle reported net income for its quarter ended Sept. 30 of $129,000, compared to a net loss of $470,000 in the same quarter last year.
The company cites three factors that drove its positive financial performance for the third quarter: corporate-wide cost control, revenues from MAM Utility Services Group, which provides transmission line and substation design and construction, and deferred costs at its electric transmission company, Maine Public Service, related to its investment in a proposed bulk transmission line.
MPS and Central Maine Power Co. in April announced a project to build a 345-kilovolt transmission line from Orrington to Newington, N.H. Maine Public Service says the transmission line is necessary to support wind power development in Aroostook County.
Most Recent
Most Recent
Comments