Bismarck, ND-based energy holding company MDU Resources last Friday announced record consolidated earnings for 2005 of $274.4 million, or $2.29/share, compared to $206.4 million, or $1.76/share, for 2004. MDU highlighted what it said was a 30% jump in earnings per share, and reaffirmation of its previous 2006 earnings guidance in the range of $2/share to $2.20/share.

Particularly stressing what he called the expected “significant demand” this year for natural resource-based products and services that the company considers its specialty, MDU CEO Martin A. White said he anticipates 2006 to be “another exceptional year.” He called 2005 a “tremendous year for many lines of business.”

“We believe that with the focused effort of our employees along with our ownership of high-quality, diversified and strategic assets, the fundamentals are in place to achieve continued success,” White said in a prepared announcement released Friday.

By segment, MDU showed earnings growth in natural gas/oil production ($141.6 million, compared to $110.8 million for 2004); construction materials/mining ($55.1 million last year, compared to $50.7 million the previous year); pipeline/energy services ($22.1 million, compared to $8.9 million in 2004); construction services ($14.6 million, compared to a loss of $5.6 million for 2004); electric utility distribution ($13.9 million in 2005, compared to $12.8 million in 2004); and natural gas utility distribution ($3.5 million, compared to $2.2 million a year earlier). The only unit reporting a decrease in earnings last year was the independent power production business ($22.9 million in 2005, compared to $26.3 million in 2004).

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