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Palestine Electric Company earns a pretax income of $ 3.81 million in the first quarter of 2010

2010-04-26

Palestine Electric Company (PEC) disclosed its financial statements for the first quarter of 2010, and the company’s financial results as of 31/03/2010 indicated a pretax income of $ 3,815,860 comparing to a pretax income of $ 6,140,590 in the first quarter of 2009. The company’s assets reached $ 134,230,803 at the end 31/03/2010 after they reached $ 134,010,109 on 31/12/2009. Total liabilities reached $ 55,428,549 at the end of the first quarter of 2010 comparing to $ 59,023,715 as of 31/12/2009. Shareholders’ equity reached $ 78,802,254 on 31/03/2010 after they reached $ 74,986,394 at the end of 2009.