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Exhibit 99.1
| News Release
Media contact: Felicia Browder,678 579 3111 felicia.browder@mirant.com
Investor Relations contacts: Mary Ann Arico, 678 579 7553 maryann.arico@mirant.com
Steve Himes, 678 579 3655 steve.himes@mirant.com
Stockholder inquiries: 678 579 7777 |
February 29, 2008 |
Mirant Announces Strong 2007 Results, Authorization
of Further Share Repurchases and 2009
Guidance
| • | 2007 net income from continuing operations of $433 million compared to 2006 net income from continuing operations of $1.752 billion |
| • | 2007 adjusted EBITDA from continuing operations of $988 million, a 52% increase over 2006 adjusted EBITDA of $648 million |
| • | Fourth quarter 2007 adjusted EBITDA from continuing operations of $214 million, a 23% increase over fourth quarter 2006 adjusted EBITDA of $174 million |
| • | Authorization of open market share repurchases for the remaining $2.6 billion of the $4.6 billion of cash to be returned to stockholders |
| • | Initiated 2009 adjusted EBITDA guidance of $1.011 billion |
ATLANTA – Mirant Corporation (NYSE: MIR) today reported that net income from continuing operations for the year 2007 was $433 million compared to $1.752 billion for the year 2006. Diluted earnings per share from continuing operations for the year 2007 were $1.56 per share, compared to diluted earnings per share from continuing operations of $5.90 for the year 2006.
The following information was filed by Mirant Corp (MIR) on Friday, February 29, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: MIR
CIK: 1010775
Form Type: 10-K Annual Report
Accession Number: 0001193125-08-042616
Submitted to the SEC: Fri Feb 29 2008 7:02:25 AM EST
Accepted by the SEC: Fri Feb 29 2008
Period: Monday, December 31, 2007
Industry: Electric Services
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