Write-down narrows HEI's net income

By Alan Yonan Jr.

POSTED: 01:30 a.m. HST, Feb 16, 2013

~~<p>Hawaiian Electric Industries Inc. reported a sharp decline in fourth-quarter net income due mostly to a $24 million write-down related to rate relief the company is proposing for its utility customers.</p>
<p>HEI said it earned $13.8 million, or 14 cents a share, in the October-through-December period, down from $34.2 million, or 36 cents a share, in the same quarter a year earlier.</p>
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Hawaiian Electric Industries Inc. reported a sharp decline in fourth-quarter net income due mostly to a $24 million write-down related to rate relief the company is proposing for its utility customers.

HEI said it earned $13.8 million, or 14 cents a share, in the October-through-December period, down from $34.2 million, or 36 cents a share, in the same quarter a year earlier. Login for more...