Mirant Profit Falls 63% on Higher Costs
From Bloomberg News
Mirant Corp., a U.S. power producer that is under bankruptcy protection, said first-quarter profit fell 63% on higher costs for coal and oil used to generate electricity.
Profit dropped to $11 million, or 3 cents a share, from $30 million, or 7 cents, a year earlier, Atlanta-based Mirant said in a Securities and Exchange filing. Sales fell 29%.
