TVA Reports Fiscal Year 2009 Financial Results

TVA Group, Inc. (TSE:TVA) filed its Annual report on Form 10-K with the Securities and Exchange Commission, reporting Net Income of $726m for fiscal year 2009 that ended Sept. 30, compared with net income of $817m for the previous fiscal year. TVA, which does not make a profit, reinvests Net Income in its Power Business, Specifically on projects that expand and improve TVA's infrastructure. These projects include New Generation, Environmental controls and Transmission improvements. TVA receives no taxpayer money.

Total Operating Revenues for fiscal year 2009 were approximately $11.3b, an 8.4% increase from fiscal year 2008, while total Operating expenses were almost $9.3b in 2009, up 13.2% from 2008. Although Power sales volume declined 7.1% from the previous year, Operating revenues were higher primarily because of increases in base rates and fuel cost adjustments during the year.

TVA Group, Inc. (TVA) is a Canada-based communications company. The Company has operations in three business sectors: Television, Publishing and Distribution. In the Television sector, TVA creates, produces and broadcasts entertainment, information and public affairs programming, in addition to its commercial production and home shopping operations. It operates North America’s private French-language television network, in addition to operating seven specialty channels. In the Publishing sector, the Company produces 50 magazines. It also offers Publishing Services for the customer’s Trademarks through the print media.