FirstEnergy announces first-quarter 2012 earnings

AKRON — Despite an unusually warm winter FirstEnergy Corp. of Akron announced today it had first-quarter earnings of $0.82 per share of common stock on a nongenerally accepted accounting practices basis.

This includes the non-GAAP earnings of 75 cents per share in the first quarter of 2011.

On a GAAP basis, first-quarter earnings were 73 cents per share of common stock on net income of $306 million and revenue of $4.1 billion. During the first quarter 2011 earnings were 15 cents per share of common stock on net income of $52 million, with revenue of $3.6 billion.

Last year’s results included charges relating to the closing of the merger with Allegheny Energy, which reduced earnings by 43 cents per share.