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MADISON GAS AND ELECTRIC REPORTS FIRST-QUARTER RESULTS

 MADISON GAS AND ELECTRIC REPORTS FIRST-QUARTER RESULTS
 MADISON, Wis., May 14 /PRNewswire/ -- Madison Gas and Electric Co. (NASDAQ: MDSN) reported earnings for the first quarter ended March 31, 1992, of $0.60 per share as compared to $0.65 per share for the same quarter a year ago. Earnings for the 12-month period ended March 31, 1992, were $2.24 per share vs. $2.16 the previous year.
 Revenues for the first quarter of 1992 were $65.9 million, compared to $70 million during the same quarter in 1991. For the 12 months ended March 31, 1992, revenues were $228.1 million vs. $224.7 million for the same period a year ago.
 Earnings for the 12 months ended March 31, 1992, remained at near- record levels despite a first-quarter decrease due to an extremely mild winter. First-quarter natural gas revenues declined 12.9 percent as average temperatures were 14 percent warmer than normal. Electricity sales, however, rose 2.2 percent during the same period, reflecting a continued strong economy in Dane County.
 MGE is a public utility that generates, transmits and distributes electricity to 114,000 customers throughout 250 square miles in Dane County. The company also transports and distributes natural gas to 90,000 customers throughout 962 square miles in Dane, Columbia and Iowa counties.
 The common stock of MGE is traded over-the-counter (OTC), is reported through the NASDAQ system and is quoted in the NASDAQ National Market System.
 MADISON GAS AND ELECTRIC CO.
 (Unaudited)
 Three months ended March 31 1992 1991
 Operating Revenue $65,922,000 $69,997,000
 Net operating income 9,289,000 9,902,000
 Net income 6,588,000 7,036,000
 Average shares outstanding 10,697,218 10,691,359
 Earnings per common share $0.60 $0.65
 12 months ended March 31 1992 1991
 Operating revenue $228,125,000 $224,686,000
 Net operating income 35,761,000 35,805,000
 Net income 24,432,000 23,397,000
 Average shares outstanding 10,697,218 10,592,848
 Earnings per common share $2.24 $2.16
 Other:
 Book value of common stock at
 March 31, 1992 $16.64 $16.16
 -0- 5/14/92
 /CONTACT: Joe Krzos of Madison Gas and Electric, 608-252-7923, or Hal Bergen or Sharon Peters, 312-644-8600, for Madison Gas and Electric/
 (MDSN) CO: Madison Gas and Electric Co. ST: Wisconsin IN: OIL SU: ERN


CK -- NY063 -- 0213 05/14/92 12:05 EDT
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Publication:PR Newswire
Date:May 14, 1992
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