Power Financial Corp is reporting flat earnings for the second-quarter ended June 30. The financial services holding company said it earned $297 million, or 83¢ a share, in the quarter, the same as in the prior-year period.

Revenues fell to $4.16 billion from $4.54 billion.

Net earnings for the second quarter of 2002 were $297 million or $0.83 per share, identical with the figure for the second quarter of 2001. Net earnings for the second quarter of 2001 included goodwill amortization of $29 million, the company’s share of specific charges recorded by subsidiary Great-West Lifeco of $131 million, and other income of $193 million.

Power Financial declared a quarterly dividend of 26¢ per share.

On Tuesday, Great-West Lifeco reported higher quarterly profits thanks to income gains at its U.S. and Canadian operations.

The insurer said it earned $243 million, or 63¢, compared with a year-earlier profit of $45 million, or 10¢ cents per share.

Second-quarter revenue fell to $3.6 billion from $4.1 billion a year ago.