SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) May 7, 2004
Commission Registrant; State of Incorporation; I.R.S. Employer
File Number Address; and Telephone Number Identification No.
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333-21011 FIRSTENERGY CORP. 34-1843785
(An Ohio Corporation)
76 South Main Street
Akron, Ohio 44308
Telephone (800)736-3402
Item 7. Financial Statements, Pro Forma Financial Statements and Exhibits
(c) Exhibits.
Exhibit No. Description
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99.1 Press Release issued by FirstEnergy Corp., dated May 7, 2004
99.2 Consolidated Report to the Financial Community, dated May 7, 2004
Item 12. Results of Operations and Financial Condition
On May 7, 2004, FirstEnergy Corp. issued two public announcements, which
are attached as Exhibits 99.1, and 99.2 hereto and incorporated by reference.
FirstEnergy's Press Release and Consolidated Report to the Financial Community
contain non-GAAP financial measures. Generally, a non-GAAP financial measure is
a numerical measure of a company's historical or future financial performance,
financial position, or cash flows that either excludes or includes amounts that
are not normally excluded or included in the most directly comparable measure
calculated and presented in accordance with accounting principles generally
accepted in the United States, or GAAP. Pursuant to the requirements of
Regulation G, FirstEnergy has provided quantitative reconciliations within the
Press Release and Consolidated Report to the Financial Community of the non-GAAP
financial measures to the most directly comparable GAAP financial measures.
The Press Release and Consolidated Report to the Financial Community
include normalized earnings per share, which is not calculated in accordance
with GAAP because it excludes the impact of "unusual items". Unusual items
reflect the impact on earnings of events that are not routine, are related to
discontinued businesses or are the cumulative effect of an accounting change.
Management believes presenting normalized earnings calculated in this manner
provides useful information to investors in evaluating the ongoing results of
FirstEnergy's businesses and assists investors in comparing the company's
operating performance to the operating performance of others in the energy
sector. FirstEnergy's management frequently references these non-GAAP financial
measures in its decision-making, using them to facilitate historical and ongoing
performance comparisons as well as comparisons to the performance of peer
companies.
The non-GAAP information presented in the Press Release and Consolidated
Report to the Financial Community should be considered in addition to, and not
as a substitute for, reported earnings per share prepared in accordance with
GAAP.
Forward-Looking Statement: This Form 8-K includes forward-looking
statements based on information currently available to management. Such
statements are subject to certain risks and uncertainties. These statements
typically contain, but are not limited to, the terms "anticipate", "potential",
"expect", "believe", "estimate" and similar words. Actual results may differ
materially due to the speed and nature of increased competition and deregulation
in the electric utility industry, economic or weather conditions affecting
future sales and margins, changes in markets for energy services, changing
energy and commodity market prices, replacement power costs being higher than
anticipated or inadequately hedged, maintenance costs being higher than
anticipated, legislative and regulatory changes (including revised environmental
requirements), adverse regulatory or legal decisions and the outcome of
governmental investigations (including revocation of necessary licenses or
operating permits), availability and cost of capital, the continuing
availability and operation of generating units, the inability to accomplish or
realize anticipated benefits of strategic goals, the ability to improve electric
commodity margins and to experience growth in the distribution business, the
ability to access the public securities markets, further investigation into the
causes of the August 14, 2003, regional power outage and the outcome, cost and
other effects of present and potential legal and administrative proceedings and
claims related to that outage, a denial of or material change to FirstEnergy's
Application related to its Rate Stabilization Plan, the risks and other factors
discussed from time to time in FirstEnergy's Securities and Exchange Commission
filings, including its annual report on Form 10-K for the year ended December
31, 2003 and other similar factors. FirstEnergy expressly disclaims any current
intention to update any forward-looking statements contained in this document as
a result of new information, future events, or otherwise.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
May 7, 2004
FIRSTENERGY CORP.
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Registrant
/s/ Harvey L. Wagner
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Harvey L. Wagner
Vice President, Controller
and Chief Accounting Officer
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