Bonneville Pacific Corp. reported revenues of $16.34 million for the quarter ended Jan. 31, which resulted in a loss of $3.48 million or 27 cents per share based on 12.90 million average common shares outstanding.

On a year to date basis, the company's revenues totaled $39.41 million with resulting losses of $5.43 million or 42 cents per share.The company said it decided to recognize the remaining gain on the sale of an interest in the Whitewater Hill Wind Project in the fourth quarter when permanent financing is finalized. "As a result, earnings for the third quarter are less than previously projected, but our annual earnings goals are still attainable," said Chairman Robert L. Wood.

For the corresponding quarter of the previous fiscal year, the company reported a loss of $994,000 or 8 cents per share based on 12.71 million average common shares outstanding and total revenues of $6.63 million. Prior year to date net income for the first three quarters totaled $422,000 or 3 cents per share.

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Bonneville, an independent electrical power producer, has developed 28 projects. Currently, the company has a 28.5 megawatt project under construction in Watsonville, Calif.

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