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AMERICAN ELECTRIC POWER EARNINGS DECREASE 10.5 PERCENT

 AMERICAN ELECTRIC POWER EARNINGS DECREASE 10.5 PERCENT
 COLUMBUS, April 16 /PRNewswire/ -- American Electric Power Company (NYSE: AEP) today reported first quarter earnings of $130,263,000, a decrease of 10.5 percent from 1991 earnings of $145,562,000. Earnings per share for the quarter were 71 cents, a decrease of 8 cents or 10.1 percent from the 79 cents reported in 1991.
 For the 12 months ended March 31, earnings decreased 2.9 percent to $482,636,000 from $497,109,000 and 7 cents per share to $2.62 from $2.69.
 Operating revenues for the first quarter were $1.297 billion, an increase of 2.9 percent over restated revenues of $1.261 billion in 1991. For the twelve-month period, revenues of $5.083 billion were down 1 percent from restated revenues of $5.136 billion for 1991. Wholesale sales effects contributed negatively to both periods. An increase in sales to retail customers in the first quarter, however, more than offset the negative wholesale effects.
 Richard E. Disbrow, chairman and chief executive officer, attributed the decline in year-to-year earnings and earnings per share to increased operating expenses, a lower contribution form wholesale sales and delays in recovering the costs of placing the Wm. H. Zimmer Generating Station into service. The Zimmer Station went into service March 30, 1991, and the company hopes for a resolution of its rate case involving Zimmer in the near future.
 American Electric Power is the parent holding company of seven operating electric utilities providing service to 7 million people in Ohio, Indiana, Michigan, Kentucky, Virginia, West Virginia and Tennessee.
 AMERICAN ELECTRIC POWER COMPANY, INC.
 Three Months Ended March 31
 1992 1991 Pct. Change
 Operating Revenues
 (billions) $1.297 $1.261(A) 2.9
 Consolidated Net
 Income $130,263,000 $145,562,000 (10.5)
 Earnings per
 Share $0.71 $0.79 (10.1)
 Average Shares
 Outstanding 184,535,000 184,535,000 ---
 Twelve Months Ended March 31
 1992 1991 Pct. Change
 Operating Revenues
 (billions) $5.083 $5.136(A) (1.0)
 Consolidated Net
 Income $482,636,000 $497,109,000 (2.9)
 Earnings per
 Share $2.62 $2.69 (2.6)
 Average Shares
 Outstanding 184,535,000 184,910,000 (0.2)
 (A) Restated to conform to current year presentation.
 -0- 4/16/92
 /CONTACT: Luke M. Feck of American Electric Power, 614-223-1650/
 (AEP) CO: American Electric Power Company ST: Ohio IN: UTI SU: ERN


CG -- CL012 -- 9340 04/16/92 13:23 EDT
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Publication:PR Newswire
Date:Apr 16, 1992
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