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Dominion beats 1Q profit forecasts

RICHMOND, Va. (AP) _ Dominion Resources Inc. (D) on Thursday reported first-quarter net income of $632 million.

The Richmond, Virginia-based company said it had profit of $1.01 per share. Earnings, adjusted for non-recurring gains, were 97 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 96 cents per share.

The energy company posted revenue of $3.38 billion in the period.

For the current quarter ending in July, Dominion expects its per-share earnings to range from 60 cents to 70 cents.

The company expects full-year earnings in the range of $3.40 to $3.90 per share.

Dominion shares have dropped slightly since the beginning of the year, while the Standard & Poor's 500 index has risen roughly 7 percent. The stock has climbed slightly more than 6 percent in the last 12 months.


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


Keywords: Dominion Resources, Earnings Report