Derivatives loss impacts on Reliant’s Q3 results

Reliant reported a loss of $1.04bn ($2.87 per share) for the three months to 30 September 2008, compared to net income of $162.4bn ($0.47 per share) for the same period in 2007.

According to a statement from the company, this was due to a lower retail contribution margin due to Hurricane Ike, which resulted in lower sales volumes, the sale of excess supply at a loss and the cancellation of planned price increases.

The loss from continuing operations before income taxes for the period was $1.6m

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