Maine & Maritimes Corporation: Maine & Maritimes Corporation Announces Second-Quarter Results

Losses Narrow, Results Are Better Than Prior Year's Second-Quarter and Year-to-Date Earnings PRESQUE ISLE, ME--(Marketwire - August 8, 2008) - Maine & Maritimes Corporation today reported a net loss for the 2008 second quarter of $68,000, and net income year to date of $1.9 million compared with prior year's net loss for the second quarter of $377,000 and net income for prior year to date of $974,000. This represents a 95% increase in net income year to date over last year. Last year's net income for the second quarter reflected losses from discontinued operations of $563,000 for the quarter and $772,000 year to date. Losses from discontinued operations were not a significant factor in the current year results, which highlight the Company's success in divesting unprofitable segments. Company officials reiterated it is normal... [read full story]