UPDATE 1-New Jersey Resources Q3 profit beats Street
* Q2 financial shr $0.03 vs estimate of $0.02
* Q2 oper rev $441.1 mln
* Reaffirms FY profit outlook
July 29 (Reuters) - Natural gas distributer New Jersey Resources Corp (NJR.N) reported third-quarter profit that beat analysts' estimates, helped partly by higher gross margin from incentive programs.
Net loss was $14.3 million, or 34 cents a share, compared with a loss of $7.6 million, or 18 cents a share, a year earlier. Adjusted profit was 3 cents a share.
Analysts were expecting earnings of 2 cents a share, before items, according to Reuters Estimates.
New Jersey Resources forecast adding about 6,100 new customers and converting 650 existing customers in 2009.
"This growth is expected to contribute approximately $3.6 million to annual utility gross margin," it said in a statement.
It also reaffirmed its 2009 profit outlook of $2.35 to $2.45 per share.
Shares of the company closed at $39.70 Tuesday on the New York Stock Exchange.
For the alerts, please double click [ID:nWNBB4738] (Reporting by Arup Roychoudhury in Bangalore; Editing by Anil D'Silva)
(arup.roychoudhury@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: arup.roychoudhury.reuters.com@reuters.net))
