Pepco Holdings Inc., an electric and natural gas utility company, released its fourth quarter and full year results today. The company posted a decrease in net profit for the fourth quarter as well as for the full year 2009. The decline in the profit was mainly attributable to the lower demand and higher expenses.

Pepco said the demand was lower in the period as mild weather hurt retail commercial and industrial electricity sales. The power delivery and competitive Energy segments of company were hurt the most by the lower demand.

The company posted net income of $41 million or 18 cents per share in the fourth quarter of FY 2009, decreasing by 39% while the net income in the same period was posted $67 million or 32 cents per share. Though, the net income decreased in the quarter, it was still in line with the expectations of the analysts as they were expecting earnings per share of $0.18 for the quarter. In the quarter, total revenue was reported $2.14 billion, decreasing by 24% as the revenue was reported $2.81 billion in the same period last year.

For the full year 2009, Pepco Holdings reported consolidated earnings of $235 million or $1.06 per share, decreasing by 21% while in FY 2008 it was posted $300 million or $1.47 per share. Total revenue for the full year was posted $9.26 billion from $10.7 billion in FY 2008.