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Dominion Resources posts 2Q profit of $413 million, result tops expectations

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NEW YORK — Dominion Resources' second-quarter earnings more than doubled on a strong performance from its Dominion Generation unit and growth projects.

Dominion Generation operates in Virginia and North Carolina, as well as a wholesaler in the Midwest.

The energy company earned $413 million, or 70 cents per share. Earnings, adjusted for non-recurring costs, came to 73 cents per share.

The results topped Wall Street expectations by a penny, according to Zacks Investment Research .

The energy company posted revenue of $2.75 billion.

The Richmond, Virginia, company also said higher revenue from growth projects also contributed to the increase.

For the current quarter, Dominion expects its per-share earnings to range from 95 cents to $1.10. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.10.

The company expects full-year earnings in the range of $3.50 to $3.85 per share.

Shares of Dominion Resources Inc. have declined nearly 9 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 2 percent. The stock has risen almost 5 percent in the last 12 months.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on D at http://www.zacks.com/ap/D

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Keywords: Dominion Resources, Earnings Report

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