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HOUSTON (AP) - Southern Union Co.'s first-quarter net income rose 5.6 percent on higher revenue from the interstate natural gas pipeline company's gathering and processing segment.
| SUG | 25.9 |  -0.22 |
Net income for the three months ended March 31 climbed to $78.6 million, or 64 cents per share, compared with $74.4 million, or 62 cents per share, in the year-earlier period, the company said late Thursday.
Analysts polled by Thomson Financial expected, on average, earnings per share of 61 cents.
Excluding one-time gains from the prior year's quarter, including a litigation gain, adjusted earnings per share were 53 cents in the first quarter of 2007.
Revenue jumped to $610.2 million from $483.1 million. Analysts expected revenue of $830.9 million.
Results benefited from higher contributions from its gathering and processing and transportation and storage segments, the company said.
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