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The Honolulu Advertiser
Posted on: Wednesday, May 5, 2010

Gas Company rate hike helps boost revenue at parent Macquarie

Advertiser Staff

Macquarie Infrastructure Co. LLC said first-quarter revenue rose 20 percent to $201.3 million, helped by an interim rate increase at The Gas Company in Hawai'i and fuel sales at its Atlantic Aviation subsidiaries.

The company reported its net loss from continuing operations narrowed to $5.47 million from a loss of $46.4 million a year earlier.

Macquarie said free cash flow at The Gas Co. was $6.6 million. The company said that was $521,000 less than a year earlier, primarily because of increased income taxes.