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FirstEnergy Issues 2009 Guidance

The Associated Press

AKRON, Ohio (AP) — FirstEnergy Corp. on Tuesday said it expects to earn $3.59 to $3.74 per share for 2009, including several special items.

Adjusted for regulatory charges, trust securities impairment, organizational restructuring costs and benefits from income tax resolution and sale of some non-core assets, the company expects to earn $3.70 to $3.85 per share for the year.

Analysts, who normally exclude one-time items from their forecasts, had been expecting FirstEnergy to post earnings of $3.71 a share this year, according to a survey by Thomson Reuters.

FirstEnergy President and Chief Executive Officer Anthony Alexander said it is too early to provide guidance for 2010 and the company expects to be in a position to do so in early December as usual.

Executives are scheduled to hold an analyst meeting Wednesday to discuss the company's financial outlook and strategy.