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AMERICAN ELECTRIC POWER REPORTS FIRST QUARTER EARNINGS INCREASE

 COLUMBUS, Ohio, April 19 /PRNewswire/ -- American Electric Power Company (NYSE: AEP) today reported first quarter earnings of $133,058,000, an increase of 2.1 percent from 1992 earnings of $130,263,000. Earnings per share for the quarter were 72 cents, an increase of 1 cent from the 71 cents reported in 1992.
 For the 12 months ended March 31, earnings decreased 2.4 percent to $471,098,000 from $482,636,000. Per share earnings declined from $2.62 to $2.55.
 Operating revenues for the first quarter were $1.321 billion, a 1.9 percent increase from revenues of $1.297 billion in 1992. For the 12- month period, revenues of $5.069 billion were basically unchanged from revenues of $5.083 billion in 1992.
 Richard E. Disbrow, chairman and chief executive officer, attributed the decline in earnings and earnings per share in the 12-month period to: (a) unseasonable weather negatively impacting more profitable retail sales; (b) increased operating expenses despite strict cost control efforts largely due to refueling outages at the Company's two nuclear units in 1992; and (c) favorable federal and state tax accrual adjustments recorded in 1991, as a result of settlements of prior years' tax return audits.
 Disbrow explained that the increase in comparative first quarter revenues, earnings and earnings per share was due to an increase in retail sales reflecting the impact of colder weather in 1993.
 American Electric Power is the parent holding company of seven operating electric utilities providing service to seven million people in Ohio, West Virginia, Virginia, Indiana, Kentucky, Michigan and Tennessee.
 3 Months Ended March 31
 Pct.
 1993 1992 Change
 Operating Revenues (billions) $1.321 $1.297 1.9
 Consolidated Net Income 133,058,000 130,263,000 2.1
 Earnings Per Share $0.72 $0.71 1.4
 Average Shares Outstanding 184,535,000 184,535,000 -
 12 Months Ended March 31
 Pct.
 1993 1992 Change
 Operating Revenues (billions) $5.069 $5.083 (0.3)
 Consolidated Net Income 471,098,000 482,636,000 (2.4)
 Earnings Per Share $2.55 $2.62 (2.7)
 Average Shares Outstanding 184,535,000 184,535,000 -
 -0- 4/19/93
 /CONTACT: Luke M. Feck of American Electric Power, 614-223-1650/
 (AEP)


CO: American Electric Power ST: Ohio IN: UTI SU: ERN

LC -- CL019 -- 7451 04/19/93 13:17 EDT
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Date:Apr 19, 1993
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