TVA sees drop in operating income, net income for Q4

MONTREAL - TVA saw a 7.5% decline in net income for its fourth quarter, but reported an 11.6% increase in consolidated net income for its fiscal year ended December 31, 2008.Net income for the last quarter of 2008 was $14.4 million, compared with net income of $15.6 million, for the corresponding quarter of 2007.Consolidated net income was $66.3 million, compared with $59.4 million for the previous fiscal year, but the company's consolidated operating income was $22.4 million, against operating income of $22.8 million for the same quarter of 2007, representing a decrease of 1.9%, the press release reported."Considering the economic...