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Allete Inc. predicts strong 2005 growth.
By Peter Passi, Duluth News-Tribune, Minn. Knight Ridder/Tribune Business News
Feb. 11--Allete Inc. unveiled ambitious goals for the coming year in an announcement timed with Thursday's release of 2004 financial results.
The corporation reported net income of $39.1 million from continuing operations. Not including a charge for early debt retirement and a one-time gain by an employee-owned stock fund, Allete's continuing operations would have produced $38.5 million -- 29 percent more than during 2003.
President and CEO Don Shippar, however, believes Allete can do better this year. He projects the company's per-share earnings from continuing …
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