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Earnings fell by half at Duquesne Light(DQE Quote) in the first quarter, as gains related to derivatives and other items depressed the most recent period and swelled year-ago figures.
The company, which formerly was known simply as "DQE," earned $14.4 million, or 18 cents a share, in the quarter, compared with $35 million, or 45 cents a share, a year ago. Adjusted for items, earnings were $21.1 million, or 27 cents a share, in the latest quarter, up from $19.3 million, or 25 cents a share, a year ago.
Analysts surveyed by Thomson First Call were forecasting adjusted earnings of 24 cents a share in the most recent period. ...
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