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APS parent Pinnacle West Capital profits grow

May 3, 2013

Cooler weather, more customers and a rate hike helped the parent company of Arizona Public Service Co., Pinnacle West Capital Corp., improve its first-quarter earnings, the company said Friday. The company had a profit of $24.4 million, or 22 cents per share, compared with a net loss of $7.5 million, or 7 cents per share, in the same quarter a year ago.

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