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AMERICAN ELECTRIC POWER
NYSE - AEP
American Electric Power generates and distributes electricity throughout a region that includes portions of Michigan, Indiana, Ohio, West Virginia, Kentucky and Tennessee.
AEP's 1989 financial performance exceeded previous years in a number of categories. Total sales of 117.5 billion kilowatt hours exceeded 1988 levels by 12 percent. Revenues were up 6.2 percent, while net earnings increased slightly. Company officials attribute the results to increased energy sales to unaffiliated utilities, a refinancing program and accruals for funds used during the construction of power plants. …