Bonneville Pacific Corp., a Salt Lake-based independent power producer, had net income of $8.5 million in the fiscal year ending April 30, which is a record of 73 cents per share and a 33 percent increase over the previous year's net income of $5 million.

Robert L. Wood, managing director and chief financial officer, said the earnings are in line with the change in the original projection of 85 cents per share made earlier this year. The projection change was the result of a decision to retain ownership in four projects originally scheduled to be sold for a one-time development fee.Company chairman Raymond L. Hixson said, "The decision to retain these projects reflects the company's goal of generating 70 percent of our earnings from recurring power sales, rather than from the sale of projects."