Westar Energy reaffirms '08 outlook in range of estimates

TOPEKA, Kan. - Electric utility Westar Energy Inc. on Friday affirmed its previously disclosed per-share earnings guidance for 2008 in a range that includes analysts' average estimate.

Westar said it expects to earn $1.50 to $1.65 per share this year. Analysts polled by Thomson Financial expect, on average, earnings per share of $1.53, with estimates ranging between $1.50 and $1.55 per share.

Also Friday, the company said its first-quarter profit doubled on higher revenue and a one-time tax gain. Excluding that gain, however, the company missed analyst estimates.

Shares fell 7 cents to $23.35 in late morning trading.

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