UPDATE 1-DTE earnings fall on mild summer weather, blackout

NEW YORK, Nov 7 - U.S. power utility DTE Energy Co. (DTE.N: Quote, Profile, Research) on Friday said third-quarter profit fell 5 percent due to mild summer weather that hurt demand for electricity and the August blackout in the Northeast.

The Detroit company reported earnings, excluding special items, of $114 million, or 67 cents a share, down from $120 million, or 72 cents a share, a year earlier.

Including adjustments, DTE posted earnings per share of $1.04.

Revenue fell modestly to $1.65 billion from $1.66 billion.

DTE also said the lower end of its 2003 forecast for operating earnings in the range of $3.10 to $3.30 is "within reach."