Mirant Audit Shows Loss for Last Year
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Mirant Corp., owner of power plants in 14 states, completed an audit that showed the company had a $2.44-billion net loss last year and that profit for 2000 and 2001 was inflated by $188 million.
The per-share loss was $6.06 and included expenses to shed workers, quit businesses and write down the value of energy ventures in the U.S. and overseas, the company said. Restated profit for the previous year was $409 million, or $1.19 a share.
Net income for 2000 and 2001 was restated to $739 million, 20% less than previously reported figures that included accounting errors, Mirant said.
Atlanta-based Mirant’s shares fell 15 cents to $3.31 on the New York Stock Exchange.
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