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THE DETROIT EDISON COMPANY REPORTS EARNINGS

 THE DETROIT EDISON COMPANY REPORTS EARNINGS
 DETROIT, Oct. 26 /PRNewswire/ -- The Detroit Edison Company


(NYSE: DTE) today announced earnings for common stock for the three months ended Sept. 30 of $147.8 million, or $1.01 per share, down 4.9 percent from the $155.4 million, or $1.06 per share, for the same period a year ago.
 Total and per-share earnings for common stock for the third quarter decreased due to lower operating revenues resulting primarily from cooler than normal summer weather. This was partially offset by lower operating expenses (including continued reductions in fuel and purchased power expenses) and interest savings associated with the early redemption and refinancing of high-cost debt. Third-quarter operating revenues totaled $911,546,000, down 6.1 percent from $970,444,000 in the same period a year ago.
 For the nine months ended Sept. 30, earnings for common stock were $414.2 million, or $2.82 per share, up 1.7 percent from the $407.3 million, or $2.77 per share, for the same period a year ago.
 For the 12 months ended Sept. 30, earnings for common stock totaled $542.1 million, or $3.69 per share, compared with $509.7 million, or $3.47 per share, for the same period a year ago.
 For the nine- and 12-month-ended periods, total and per-share earnings for common stock increased due to lower operating expenses (including continued reductions in fuel and purchased power expenses) and interest savings associated with the early redemption and refinancing of high-cost debt, partially offset by lower operating revenues and lower non-operating income.
 The decrease in operating revenues for the three-, nine- and 12-month-ended periods resulted from lower total system sales due primarily to much cooler weather and decreased interconnection sales, partially offset by previously approved rate increases. Interconnection sales represent sales between utilities to meet short- and long-term energy needs as a result of demand and/or generating unit availability.
 Total system sales (excluding interconnection sales) for the three months ended Sept. 30 were down 6.9 percent from the same period a year ago. Residential sales declined 19.2 percent, commercial sales declined 7 percent and industrial sales declined 3.3 percent.
 The decline in residential and commercial sales for the three-month period was due primarily to significantly cooler weather, which resulted in reduced air conditioning and cooling-related loads. The decrease in industrial sales resulted from lower sales to automotive customers reflecting the first-ever shutdown of all General Motors facilities for two weeks in July, lower sales to steel customers reflecting the decreased use of electric arc furnaces and lower sales to other non- manufacturing customers reflecting the impact of cooler weather and the continuing effect of the weak economy.
 Total system sales (excluding interconnection sales) for the nine months ended Sept. 30 were down 2.2 percent from the same period a year ago. Residential sales declined 9.6 percent, commercial sales declined 2.9 percent, but industrial sales rose 0.9 percent.
 Total system sales (excluding interconnection sales) for the 12 months ended Sept. 30 were down 1.5 percent from the same period a year ago. Residential sales were down 6.6 percent, commercial sales were down 1.6 percent, but industrial sales rose 0.3 percent.
 The decreases in residential and commercial sales for the nine- and 12-months periods were due primarily to the significantly cooler weather during the second and third quarters of 1992, resulting in decreased air conditioning and cooling-related loads. The increases in industrial sales reflect higher sales to non-automotive customers, reflecting better economic conditions than the same periods in 1991.
 Interconnection sales were down 24.3 percent, 36.9 percent and 31.2 percent for the three-, nine- and 12-month periods, respectively.
 CONSOLIDATED INCOME DATA
 THE DETROIT EDISON COMPANY
 (Thousands of dollars)
 Three Months Ended
 Sept. 30, Percent
 1992 1991 Change
 Operating revenues $911,546 $970,444 -6.1
 Net income $155,370 $163,483 -5.0
 Preferred and preference stock
 dividend requirements 7,599 8,131 -6.5
 Earnings for common stock $147,771 $155,352 -4.9
 Weighted average number of shares
 of common stock outstanding 147,001,562 146,949,068 ---
 Earnings per share $1.01 $1.06 -4.7
 CONSOLIDATED INCOME DATA
 THE DETROIT EDISON COMPANY
 (Thousands of dollars)
 Nine Months Ended
 Sept. 30, Percent
 1992 1991 Change
 Operating revenues $2,672,275 $2,721,702 -1.8
 Net income $437,249 $432,101 +1.2
 Preferred and preference stock
 dividend requirements 23,053 24,814 -7.1
 Earnings for common stock $414,196 $407,287 +1.7
 Weighted average number of shares
 of common stock outstanding 146,994,806 146,937,800 ---
 Earnings per share $2.82 $2.77 +1.8
 CONSOLIDATED INCOME DATA
 THE DETROIT EDISON COMPANY
 (Thousands of dollars)
 12 Months Ended
 Sept. 30, Percent
 1992 1991 Change
 Operating revenues $3,542,109 $3,563,118 -0.6
 Net income $573,185 $543,104 +5.5
 Preferred and preference stock
 dividend requirements 31,071 33,421 -7.0
 Earnings for common stock $542,114 $509,683 +6.4
 Weighted average number of shares
 of common stock outstanding 146,988,586 146,933,073 ---
 Earnings per share $3.69 $3.47 +6.3
 -0- 10/26/92
 /CONTACT: Lorie N. Kessler, 313-237-8807, or Scott L. Simons, 313-237-8808, both of The Detroit Edison Company/
 (DTE) CO: The Detroit Edison Company ST: Michigan IN: UTI SU: ERN


JG-SK -- DE019 -- 4792 10/26/92 12:39 EST
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Date:Oct 26, 1992
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