COLUMBUS, Ohio (AP) — American Electric Power Co. said Friday that its fourth-quarter earnings surged 75 percent, largely due to a court decision in Texas that went in the company's favor.

The Columbus, Ohio-based power supplier said that its net income rose to $308 million, or 64 cents per share, in the three months ending Dec. 31. That compares with $176 million, or 37 cents per share, a year ago.

AEP says it benefited from a Texas Supreme Court ruling on cost recovery that added $558 million to the company's bottom line.

AEP's revenue for the quarter held steady at $3.4 billion.

Excluding special items, AEP earned $194 million in the quarter, or 40 cents a share.

Analysts polled by FactSet expected adjusted earnings of 41 cents a share on revenue of $3.1 billion. Those estimates typically do not include special items.

AEP shares fell $1.05, or 2.5 percent, to $40.23 in morning trading.

American Electric Power is one of the largest electric utilities in the United States, delivering electricity to more than 5 million customers in 11 states. AEP ranks among the nation's largest generators of electricity, owning nearly 38,000 megawatts

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