TECO posts second quarter gains

TAMPA — TECO Energy (NYSE: TE) posted gains to its net income for the second quarter compared with the same quarter last year, but its year-to-date income still lags 2010's numbers.

The energy company posted net income of $77.5 million in the second quarter, $2 million more than the $75.5 million it posted for the same quarter last year. The gain came largely from the company spending $4.1 million in 2010 to retire debt.

TECO's year-to-date net income totals $129.2 million, which is down from $131.3 million for the same period in 2010. The company's net income for the last 12 months dropped about 5%, with $236.9 million posted for the 12 months ended June 30 of this year compared with $249.7 million posted for the same time in 2010.