DQE Profit Slips

The company is now known as Duquesne Light.
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Utility

Duquesne Light Holdings

(DQE)

said Friday its third-quarter earnings fell significantly from the year-ago period, hurt by state tax settlement charge.

The holding company comprising

Duquesne Light

and other affiliates, earned $900,000, or penny a share, in the latest quarter, compared with $26.1 million, or 34 cents a share, a year ago. Analysts surveyed by Thomson First Call were forecasting earnings of 24 cents a share in the most recent quarter.

Revenue was $271.3 million in this year's third quarter, up from $263.3 million a year ago.

By segment, retail electricity sales rose 5.8% from a year ago to $235.6 million while other revenue fell 12.1% to $35.7 million.

The company's shares were trading up 2 cents at $19.74 Friday.

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