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Exhibit 99.1
| News Release |
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Media contact: |
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| Allyson Tomlin, 678 579 7657 allyson.tomlin@mirant.com |
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Investor Relations contacts: |
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| Steve Himes, 678 579 3655 steve.himes@mirant.com |
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Audrey Emerson, 678 579 3231 audrey.emerson@mirant.com |
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Stockholder inquiries: |
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| 678 579 7777 |
February 27, 2009
Mirant Reports Fourth Quarter and
Year-End 2008 Results
| • | 2008 net income from continuing operations of $1.215 billion compared to 2007 net income from continuing operations of $433 million |
| • | 2008 adjusted EBITDA from continuing operations of $782 million compared to 2007 adjusted EBITDA from continuing operations of $988 million |
| • | Fourth quarter 2008 adjusted EBITDA from continuing operations of $150 million compared to fourth quarter 2007 adjusted EBITDA from continuing operations of $214 million |
| • | Revised 2009 adjusted EBITDA guidance from $981 million to $897 million and initiated 2010 adjusted EBITDA guidance of $667 million |
ATLANTA – Mirant Corporation (NYSE: MIR) today reported that net income from continuing operations for 2008 was $1.215 billion compared to $433 million for 2007. Results for 2008 include unrealized gains, principally on hedges, of $786 million compared to unrealized losses of $536 million for 2007. Diluted earnings per share from continuing operations for 2008 were $6.11 per share, compared to diluted earnings per share from continuing operations of $1.56 per share for 2007.
The following information was filed by Mirant Corp (MIR) on Friday, February 27, 2009 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: 0001193125-09-039915
Submitted to the SEC: Fri Feb 27 2009 7:02:47 AM EST
Accepted by the SEC: Fri Feb 27 2009
Period: Wednesday, December 31, 2008
Industry: Electric Services
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