TECO Energy reports fourth quarter net income of $53.5 million

TECO Energy Inc., reported fourth quarter 2009 net income of $53.5 million or $0.25 per share, up from $22 million or $0.10 per share in the fourth quarter of 2008.

The fourth quarter results brought TECO's full-year net income and earnings per share to $213.9 million or $1 per share in 2009, compared to $162.4 million or $0.77 per share in 2008.

"We are pleased with the strong results in 2009 in the face of the economic recession which impacted both our utility and coal businesses," said, Sherrill Hudson, TECO Energy chairman and chief executive officer. "In 2009, we took steps at TECO Energy and the operating companies to position our utilities to earn their allowed returns and for TECO Energy to deliver earnings growth in 2010."