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Calpine Posts Fourth-Quarter Loss on Charges
HOUSTON -- The power producer Calpine (CPN Quote) on Friday posted a fourth-quarter loss, driven by nonrecurring charges related to reorganization, inventory hedging losses, discontinued operations and income taxes.
Calpine said it lost $109 million, or 23 cents per share, in the last three months of 2008 compared with a loss of $142 million, or 30 cents per share during the prior year period.
Excluding nonrecurring items, the net loss for the quarter totaled $146 million.
Analysts polled by Thomson Reuters estimated a loss of 12 cents per share, on average. Analysts typically exclude one-time items. ...
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