Energy co Dominion's 4Q profit, revenue falls

Energy provider Dominion's 4Q profit falls on plant-related charges, lower electricity usage

Associated Press

RICHMOND, Va. (AP) -- Energy provider Dominion Resources says lower electricity usage because of a mild weather, and charges related to some of its coal-fired power stations dragged down its fourth-quarter profit.

The Richmond-based company said Friday it earned $201 million, or 35 cents per share, for the period ended Dec. 31. That's down from $298 million, or 51 cents per share, a year ago.

But Dominion says its operating earnings fell nearly 9 percent to $334 million, or 58 cents per share. It uses operating earnings that exclude certain items as its primary performance measurement.

Revenue fell more than 15 percent to $3.18 billion.

Dominion Resources Inc. is one of the nation's largest producers and transporters of energy and serves retail customers in 15 states.

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