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As eager as we are to put 2002 behind us, we’re realistic enough to know that we’ll be grappling with weak market conditions through at least 2003. The slow pace of economic recovery, imbalance between electricity supply and demand, and regulatory and legal uncertainties facing our industry paint a sober view of the year ahead.
We therefore expect earnings per share of between $1.35 and $1.60 in 2003 (before one-time charges for the implementation of new required accounting standards).
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