AES Adjusted Profit Tops Street Estimates - TheStreet

ARLINGTON, Va. (

TheStreet

) --

AES

(AES) - Get Report

reported fourth-quarter adjusted earnings rose 1 cent to 22 cents a share on higher gross margins and lower taxes.

The net loss for the period was $48 million, or 7 cents a share, vs. a year-earlier loss of $47 million, or 7 cents a share.

AES, a utility company, said fourth-quarter revenue rose to $3.82 billion from $3.44 billion a year earlier.

Analysts surveyed by Thomson Reuters expected fourth-quarter earnings of 19 cents a share on revenue of $3.385 billion.

AES said it expects 2010 adjusted earnings of $1 to $1.05 a share; for 2011 it expects adjusted earnings of $1.15 to $1.25 a share.

-- Reported by Joseph Woelfel in New York.

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