(RTTNews) - FirstEnergy Corp. (FE: News ) reported that its first-quarter GAAP net income was $149 million or $0.51 per share, compared to $115 million or $$0.39 per share in the year ago quarter.
On a non-GAAP basis, earnings were $0.81 per share, compared to $1.01 per share in the first quarter of 2009.
Revenue was $3.3 billion, compared to revenue of $3.3 billion in the year ago quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.76 per share on revenues of $3.40 billion for the quarter. Analysts' estimates typically exclude special items.
The company affirmed its 2010 earnings guidance of $3.50 to $3.70 per basic share of common stock on a non-GAAP basis. The company expects fiscal 2010 GAAP earnings per basic share to be in the range of $3.17 - $3.37. Analysts expect the company to report earnings of $3.58 per share for fiscal 2010.
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