DULUTH, Minn. (AP) — DULUTH, Minn. (AP) — Allete Inc. (ALE) on Thursday reported first-quarter net income of $50.7 million.

The Duluth, Minnesota-based company said it had net income of 88 cents per share. Earnings, adjusted for non-recurring costs, were 97 cents per share.

The power company owner posted revenue of $403.3 million in the period.

Allete shares have increased nearly 3% since the beginning of the year. The stock has increased slightly in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALE at https://www.zacks.com/ap/ALE