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Energy provider Dominion posts 4Q profit

Friday - 1/31/2014, 1:59pm  ET

AP Business Writer

RICHMOND, Va. - Dominion Resources is profitable again in the fourth quarter on gains from its power generation and electric service businesses. Shares are moving higher before the opening bell, despite a broad sell-off in markets.

The Richmond, Va., energy provider on Friday posted earnings of $431 million, or 74 cents per share. That compares with a loss of $659 million, or $1.15 cents per share, a year ago.

Operating earnings grew to 80 cents per share. Dominion uses operating earnings that exclude certain items as its primary performance measurement.

Revenue increased 3 percent to $3.18 billion.

Analysts expected earnings of 89 cents per share on revenue of $3.16 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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