Dominion said Wednesday its 2001 operating earnings, excluding special charges, are expected to “meet or slightly exceed” analyst expectations of $4.15 per share, and it reaffirmed its 2002 earnings guidance of $4.90-4.95 per share. The higher earnings come despite fourth quarter write-downs of about $348 million, created by $97 million related to Enron Corp. exposure, a write-down of Dominion Capital assets worth $183 million, and a restructuring initiative announced in November, which will cost $68 million.
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Dominion ’01 Earnings Exceed Estimates Despite $348M 4Q Charges
Dominion said Wednesday its 2001 operating earnings, excluding special charges, are expected to “meet or slightly exceed” analyst expectations of $4.15 per share, and it reaffirmed its 2002 earnings guidance of $4.90-4.95 per share. The higher earnings come despite fourth quarter write-downs of about $348 million, created by $97 million related to Enron Corp. exposure, a write-down of Dominion Capital assets worth $183 million, and a restructuring initiative announced in November, which will cost $68 million.
January 17, 2002