Ameren (NYSE:AEE) Profits Plunge 34 Percent in 4th Quarter

Ameren Corp. (NYSE:AEE), which provides electric and natural gas services in Missouri and Illinois, said Tuesday its fourth-quarter profit fell 34 percent, as results were weighed by a slew of one-time charges.

The company reported net income of $52 million, or 21 cents a share, for the three months ended Dec. 31. That compares with net income of $79 million, or 34 cents a share, in the prior-year quarter.

Excluding charges related to impairments on assets, mark-to-market adjustments and other special items, the company said it earned $56 million, or 22 cents a share, for the quarter.

Even on that basis, Ameren's results missed analysts' consensus earnings forecast of 25 cents a share, according to FactSet.

Revenue climbed to $1.71 billion, which was in line with analysts' expectations, from $1.7 billion in the prior-year period.

For the full year, Ameren reported a profit of $139 million, or 58 cents a share, compared with net income of $612 million, or $2.78 a share, in 2009.

Revenue for the year rose to $7.64 billion from $5.94 billion the year before.





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