UPDATE 1-AEP earnings rise, company withdraws year forecast
April 20 (Reuters) - American Electric Power Co Inc posted higher first-quarter earnings as growing demand from its industrial customers and higher retail rates in several areas helped offset weak weather-related energy consumption.
The company, which owns regulated utility operations in 11 states, also said it has withdrawn its previous profit per share forecast of $3.05 to $3.25 for 2012 because of regulatory moves in Ohio.
First-quarter net earnings rose to $389 million, or 80 cents per share, from $353 million, or 73 cents per share, in the year-earlier quarter.
Revenue slipped 2 percent to $3.6 billion.
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