Canadian power company TransAlta Corp. (TAC: Quote, TA.TO) Thursday released the financial results for the first quarter of 2012, reporting that funds from operations slid to C$189 million or C$0.84 per share from C$226 million or C$1.02 per share in the same quarter last year, hurt by lower realized prices due to soft market conditions.
Comparable earnings for the first quarter declined to C$45 million or C$0.20 per share, from prior year's C$75 million or C$0.34 per share, with quarterly net earnings attributable to common shareholders plunging to C$89 million or C$0.40 per share from C$204 million or C$0.92 per share reported for the same period last year.
Revenue decreased to C$656 million from C$818 million in the comparable period a year ago.
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by RTT Staff Writer
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