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AMERICAN ELECTRIC POWER THIRD QUARTER EARNINGS DECREASE

 AMERICAN ELECTRIC POWER THIRD QUARTER EARNINGS DECREASE
 COLUMBUS, Ohio, Oct. 15 /PRNewswire/ -- American Electric Power Company (NYSE: AEP) today reported third quarter earnings of $107,795,000, a decrease of 20.7 percent from 1991 earnings of $135,961,000. Earnings per share for the quarter were $.58, a decrease of $.16 from the $.74 reported in 1991.
 For the 12 months ended Sept. 30, earnings decreased 13.3 percent to $427,379,000 from $493,086,000. Per share earnings declined $.35 from $2.67 to $2.32.
 Operating revenues for the third quarter were $1.282 billion, a 0.6 percent decrease from restated revenues of $1.289 billion in 1991. For the 12-month period, revenues of $5.015 billion were down $44 million, or 0.9 percent from restated revenues of $5.059 billion in 1991.
 Richard E. Disbrow, chairman and chief executive officer, attributed the decline in earnings and earnings per share in both the 12-month period and the third quarter to much milder weather, price competition in the wholesale sales market and increased operating expenses despite strict cost control efforts. Twelve-month earnings were also negatively affected by a delay and shortfall in the recovery of the cost of the Wm. H. Zimmer Generating Station.
 Although industrial sales were at an all-time high, revenues in both periods were impacted by a decline in sales to commercial and residential consumers due to the moderate weather and the price competition in the wholesale market.
 American Electric Power is the parent holding company of seven operating electric utilities providing service to seven million people in Ohio, Indiana, Michigan, Kentucky, Virginia, West Virginia and Tennessee.
 3 Months Ended Sept. 30
 pct.
 1992 1991 change
 Operating Revenues (billions) $1.282 $1.289(A) ( 0.6)
 Consolidated Net Income $107,795,000 $135,961,000 (20.7)
 Earnings Per Share $0.58 $0.74 (21.6)
 Average Shares Outstanding 184,535,000 184,535,000 --
 12 Months Ended Sept. 30
 pct.
 1992 1991 change
 Operating Revenues (billions) $5.015 $5.059(A) ( 0.9)
 Consolidated Net Income $427,379,000 $493,086,000 (13.3)
 Earnings Per Share $2.32 $2.67 (13.1)
 Average Shares Outstanding 184,535,000 184,535,000 --
 (A) Restated to conform to current year presentation.
 -0- 10/15/92
 CONTACT: Luke M. Feck, senior vice president, public affairs of American Electric Power Service Corporation, 614-223-1650/
 (AEP) CO: American Electric Power Service Corporation ST: Ohio IN: UTI SU: ERN


BM -- CL023 -- 0558 10/15/92 15:22 EDT
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Publication:PR Newswire
Date:Oct 15, 1992
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