CONSOLIDATED EDISON INC
SymbolED

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Con Edison, Inc. Reports 2009 Third Quarter Earnings

2009-11-02 09:33 ET - News Release

NEW YORK, NY -- (MARKET WIRE) -- 11/02/09

Consolidated Edison, Inc. (Con Edison) (NYSE: ED) today reported third quarter earnings from ongoing operations, which excludes items discussed in the table below, were $319 million or $1.16 a share compared with $269 million or $0.98 a share in 2008. The company's net income for common stock was $336 million or $1.22 a share compared with $182 million or $0.66 a share in 2008.

Excluding items discussed in the table below, earnings from ongoing operations for the first nine months of 2009 were $665 million or $2.43 a share compared with $620 million or $2.27 a share for the first nine months of 2008. The company's net income for common stock was $666 million or $2.43 a share compared with $1,036 million or $3.80 a share for the first nine months of 2008.

"Reliability, energy efficiency, and infrastructure investments remained priorities as the company performed well, and delivered results in line with expectations, during a relatively mild summer," said Kevin Burke, the company's Chairman, President and Chief Executive Officer. "The $136 million smart grid stimulus grant, for which the company has been selected by the U.S. Department of Energy, will help promote economic vitality and new employment opportunities, complementing other investments we are already making in our energy delivery systems."

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