AEP Reports Q4 EPS of $.38 vs. $.40

American Electric Power AEP today reported 2010 year-end earnings, prepared in accordance with Generally Accepted Accounting Principles (GAAP), of $1.211 billion or $2.53 per share, compared with $1.357 billion or $2.96 per share in 2009. Ongoing earnings (earnings excluding special items) for 2010 were $1.451 billion or $3.03 per share, compared with $1.362 billion or $2.97 per share in 2009. GAAP earnings for fourth-quarter 2010 were $176 million or $0.37 per share, compared with fourth-quarter 2009 GAAP earnings of $238 million or $0.50 per share. Ongoing earnings for fourth-quarter 2010 were $179 million or $0.38 per share, compared with fourth-quarter 2009 ongoing earnings of $238 million or $0.50 per share. The per-share results for the year and the fourth quarter reflect the dilutive effect of additional shares outstanding, which reduced ongoing earnings for 2010 by $0.14 per share for the year and $0.01 per share for the quarter as compared with the prior periods.