Pinnacle net income slides 21.2% to $242 mil with Q4 impairment charge at real estate unit

摘要

Hit with a $32 million fourth-quarter impairment charge atnreal estate unit SunCor, Pinnacle West Capital’s net income slidn21.2% to $242 million in 2008, a four-year low.nWith the charge, the real estate segment lost $49 million onncontinuing operations last year, down from net income of $14nmillion in 2007. Most of the loss — $36 million — was in Q4,ndown from a net of $6 million.