/ Source: The Associated Press
Power provider Dynegy Inc. said Tuesday it swung to a loss of $58 million in the fourth quarter as revenue fell and it absorbed costs related to a financial restructuring as it prepares for a previously-disclosed acquisition.
The loss for the October-December period amounted to 12 cents a share, compared with a profit of $293 million, or 74 cents a share, a year ago, when income from discontinued operations lifted results.
Sales fell 36 percent to $397 million from $622 million in the year-ago period.
In a release, the company said its $4.1 billion acquisition of rival LS Power Group was on track to be completed by the end of March.