Calpine Corp. (San Jose, CA) announced financial and operating results for the three and nine months ended September 30, 2003. For the quarter ended September 30, 2003, the company reported earnings per share of $0.51, or $237.8 million of net income, compared with earnings per share of $0.34, or $151.1 million of net income, for the third quarter of 2002. Results for the third quarter of 2003 include a $0.23 per share gain recorded on the purchases of outstanding debt and preferred securities, offset by a loss of $0.01 per share for other charges.
For the nine months ended September 30, 2003, the company reported earnings per share of $0.41, or $162.4 million of net income, compared with earnings per share of $0.40, or $143.8 million of net income, for the nine months ended September 30, 2002. Results for the first nine months of 2003 include a $0.25 per share gain recorded on the purchases of outstanding debt and preferred securities, offset by a loss of $0.11 for other charges, including a $0.03 per-share, non-cash charge for equipment and development cost write-downs, a $0.04 per-share, non-cash charge for foreign exchange translation losses, a $0.03 per-share charge for discontinued operations to reflect the sale of the company's specialty engineering unit, and a $0.01 per-share loss for non-routine equipment repair costs.
