DPL Profit Falls

DPL(DPL Quote) said its first-quarter earnings fell 20% from a year ago, primarily related to the gain on the sale of the company's private equity funds in the first quarter of 2005.

The Dayton, Ohio-based utility company earned $58.9 million, or 46 cents a share, in the quarter, compared with $73.7 million, or 58 cents a share, a year ago. Earnings from continued operations was $51.3 million, or 40 cents a share, compared with $36.1 million, or 28 cents a share, a year ago. Analysts surveyed by Thomson First Call were expecting the company to earn 30 cents a share.

First-quarter revenue rose 11% from a year ago to $341.1 million primarily due to an increase in retail and wholesale electric market rates and wholesale electric volume partially offset by lower electric retail volume. ...