BROOKLYN, N.Y. - KeySpan Corp., an electricity and gas utility company, has plans to sell a significant portion of its mechanical contracting subsidiaries after a strategic review of the Energy Services segment of the corporation.
KeySpan recorded a 90.4 million non-cash goodwill impairment charge in this segment. This resulted in a loss of $117.1 million or 73 cents per share. This is compared to a net income of $11.1 million or 7 cents per share in the same period last year.