DULUTH, Minn. (AP) _ Allete Inc. (ALE) on Thursday reported fourth-quarter earnings of $61.1 million.
The Duluth, Minnesota-based company said it had net income of $1.18 per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.
The power company owner posted revenue of $448.3 million in the period.
For the year, the company reported profit of $174.1 million, or $3.38 per share. Revenue was reported as $1.5 billion.
Allete shares have increased slightly more than 1 percent since the beginning of the year. The stock has climbed 11 percent in the last 12 months.