By Dayton Business Journal

DPL Inc., in the final stages of a merger, reported less profit in the third quarter.

DPLâ¿¿s (NYSE: DPL) third quarter net income was $67.1 million, or 58 cents per share, down 22 percent from $86.4 million, or 74 cents per share, during the same quarter in 2010.

The Dayton-based energy companyâ¿¿s revenue was $511.8 million, down slightly from $516.9 million in 2010.

DPL attributed the decrease to lower retail and wholesale sales volumes partially offset by higher average retail rates and higher average wholesale prices.

⿿We had a strong quarter from an operational perspective and a good one financially,⿝ said Paul Barbas, DPL President and CEO. ⿿Because of our cost control and execution within our core electric business, we expect to achieve our 2011 adjusted earnings per share from continuing operations, despite the significant challenges of increasing retail competition.⿝

DPL Inc. is the parent company of The Dayton Power and Light Co.; DPL Energy LLC and DPL Energy Resources Inc.

DPL Inc. announced earlier this year it will be purchased by Virginia-based AES Corp., a global power company, for $4.7 billion.

Under terms of the deal, DPL will remain a standalone business, with local management and corporate functions, and its headquarters will remain in Dayton for at least two years.

DPL serves more than 500,000 customers in West Central Ohio through its subsidiaries, DP&L and DPL Energy Resources.

Click here for the full earnings release.

Copyright 2011 American City Business Journals

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