Dynegy 1Q loss doubles

[May 07, 2009]  HOUSTON (AP) -- Dynegy says its first quarter loss more than doubled from a year ago as the power producer wrote down the value of the company because of its tumbling stock and power prices.

Houston-based Dynegy Inc. reported a loss of $335 million, or 40 cents per share, for the quarter ended March 31 compared with a loss of $152 million, or 18 cents per share, a year ago.

Revenue was $904 million.

The company recorded a $433 million charge that it says reflects a decline in the company's value.

Analysts surveyed by Thomson Reuters expected a loss of 4 cents a share on revenue of $683 million. Such estimates typically exclude charges.

[Associated Press]

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