Avista Advantage, Avista Corp.s long unprofitable subsidiary, finally has broken into the black.


The subsidiary, a third-party manager of utility bills and other facility charges for businesses, chalked up pre-tax income of $823,000 from operations and contributed 1 cent per diluted share to Avista Corp.s earnings for the third quarter, Avista Corp. said last week.


This is the first positive earnings quarter for Advantage, marking a milestone for this growing business, Avista Corp. said in its third-quarter earnings report, released Oct. 22.


Financial statements Avista Corp. released that day said Avista Advantage posted $6 million in revenue in the third quarter, up from $5 million in the year-earlier quarter, and had grossed $16.8 million in revenue through the first nine months, up from $14.7 million in the comparable period in 2003.


Avista Corp. also said, Advantage has signed over 23,000 new accounts which are ready to go live over the next four to six weeks. Included in this number are completed contracts with three of the top 20 national retailers, representing the automotive, video rental, and electronics sectors. The companys positive trends in results are due to continued focus on operational cost efficiencies, new services for current and renewing clients, and new client growth.


Jessie Wuerst, a spokeswoman for Avista Corp., says the subsidiary is expected to add 5 cents a share to Avista Corp.s earnings in 2005.


Avista Advantage employs 300 people, most of whom work at its offices in Rock Pointe East, at 1313 N. Atlantic.