DULUTH, Minn. (AP) — DULUTH, Minn. (AP) — Allete Inc. (ALE) on Thursday reported fourth-quarter net income of $50.6 million.

On a per-share basis, the Duluth, Minnesota-based company said it had net income of 87 cents.

The power company owner posted revenue of $364.8 million in the period.

For the year, the company reported profit of $179.3 million, or $3.10 per share. Revenue was reported as $1.53 billion.

Allete shares have risen almost 2% since the beginning of the year. The stock has increased 11% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALE at https://www.zacks.com/ap/ALE