Integrys profit surges on derivatives, acquisition

NEW YORK, Feb 19 (Reuters) - Integrys Energy Group Inc (TEG.N: Quote, Profile, Research, Stock Buzz) said on Tuesday that quarterly earnings more than tripled, boosted by derivatives gains and the acquisition last year of Peoples Energy.

Income available to common shareholders rose to $85.1 million, or $1.11 per share, from $21.3 million, or 49 cents a share, in the same period a year ago.

The utility company forecast 2008 earnings in a range of $3.33 to $3.78 per share. On an adjusted basis, it expects to earn $3.60 to $4.05 per share from continuing operations. (Reporting by Chris Reiter; Editing by Braden Reddall)