Progress Energy Posts 4Q08 Profit and Continues More Than $27 Billion in Projects

SUGAR LAND--February 17, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--Progress Energy Incorporated (NYSE:PGN) (Raleigh, North Carolina) has reported a fourth-quarter 2008 net income of $107 million, up almost 4% compared with $103 million in the same quarter of 2007, on improved margins and lower depreciation despite a slump in sales. For the full year, the company has posted a net income of $830 million, up nearly 65%. As part of our North American Industrial Database, Industrial Info is tracking 41 active Progress Energy projects totaling more than $27.87 billion. Included in the database is information on the $14 billion Levy nuclear project, which Industrial Info has been tracking since October 2005.