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AMERICAN ELECTRIC POWER SECOND QUARTER EARNINGS INCREASE 16.1 PERCENT

 COLUMBUS, Ohio, July 19 /PRNewswire/ -- American Electric Power Company (NYSE: AEP) today reported second quarter earnings of $86,219,000, an increase of 16.1 percent over 1992 earnings of $74,293,000. Earnings per share for the quarter were 47 cents, an increase of 7 cents, over the 40 cents reported in 1992.
 For the 12 months ended June 30, earnings increased 6.0 percent to $483,024,000 from $455,545,000 and 15 cents per share to $2.62 from $2.47.
 Operating revenues for the second quarter were $1.210 billion, an increase of 3.1 percent over revenues of $1.174 billion in 1992. For the 12-month period, revenues of $5.106 billion were up 1.7 percent from revenues of $5.022 billion for 1992.
 E. Linn Draper Jr., chairman, president and chief executive officer, explained that the increase in second quarter earnings and earnings per share was due to an increase in retail sales reflecting the continuing improvement in industrial sales and a return to normal weather. The increase in 12-month earnings and earnings per share was due to the improvement in industrial sales and the adverse effect on earnings for the 12 months ended June 30, 1992, of not recovering the Wm. H. Zimmer Generating Station operating expenses in the last six months of 1991.
 The increase in revenues for both periods was attributable to the increase in retail sales and the Zimmer-phased in rate increases.
 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 June 30
 1993 1992 Pct. Change
 Operating Revenues (billions) $1.210 $1.174 3.1
 Consolidated Net Income $86,219,000 $74,293,000 16.1
 Earnings Per Share $0.47 $0.40 17.5
 Average Shares Outstanding 184,535,000 184,535,000 --
 12 Months Ended June 30
 1993 1992 Pct. Change
 Operating Revenues (billions) $5.106 $5.022 1.7
 Consolidated Net Income $483,024,000 $455,545,000 6.0
 Earnings Per Share $2.62 $2.47 6.1
 Average Shares Outstanding 184,535,000 184,535,000 --
 -0- 7/19/93
 /CONTACT: Luke M. Feck, senior vice president, public affairs, American Electric Power Company, 614-223-1650/
 (AEP)


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

BM -- CL014 -- 3040 07/19/93 12:17 EDT
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Publication:PR Newswire
Date:Jul 19, 1993
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