Audited Financial Statements Released

The document linked below – The Yadkin Power Generation Combined Statements of Income – contains audited financial information for 2008, 2009 and 2010. PricewaterhouseCoopers (PwC) performed an independent audit of the income statements, which were prepared by Alcoa Power Generating Inc. (APGI). 

 

Highlights include:

  • In 2008 the Yadkin Project had net income of $7.9 million on revenues of $28.7 million.
  • In 2009, net income was $7.3 million on revenues of $28.3 million.
  • In 2010, net income was $8.0 million on revenues of $31.4 million.
  • During the last three years, APGI has spent $41.1 million on capital expenditures at the facilities.

 

These highlights should be read in conjunction with The Yadkin Power Generation Combined Statements of Income (linked below). You’ll see further description of the business and principles of consolidation in that document.

 

See The Yadkin Power Generation Combined Statements of Income