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AMERICAN ELECTRIC POWER THIRD QUARTER EARNINGS INCREASE

 COLUMBUS, Ohio, Oct. 20 /PRNewswire/ -- American Electric Power Company (NYSE: AEP) today reported third quarter earnings of $134,395,000, an increase of 24.7 percent over 1992 earnings of $107,795,000. Earnings per share for the quarter were 73 cents, an increase of 15 cents, over the 58 cents reported in 1992.
 For the 12 months ended Sept. 30, earnings increased 19.2 percent to $509,624,000 from $427,379,000 and 44 cents per share to $2.76 from $2.32.
 Operating revenues for the third quarter were $1.406 billion, an increase of 9.7 percent over revenues of $1.282 billion in 1992. For the 12-month period, revenues of $5.230 billion were up 4.3 percent from revenues of $5.015 billion for 1992.
 E. Linn Draper, Jr., chairman, president and chief executive officer, explained that the increase in earnings and earnings per share in both comparative periods was due to an increase in sales reflecting warmer summer weather in 1993 versus 1992, continuing improvement in industrial sales, rate increases in several jurisdictions and decreases in interest expense due to refinancings. Earnings and earnings per share for the 12-month period ended Sept. 30, 1993, also benefited from interest income on refunds of prior years' federal income taxes recorded in the fourth quarter of 1992.
 Revenues in both comparative periods increased due to the improvement in sales and the 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.
 AMERICAN ELECTRIC POWER
 3 Months Ended Sept. 30,
 Percent
 1993 1992 Change
 Operating Revenues (billions) $1.406 $1.282 9.7
 Consolidated Net Income $134,395,000 $107,795,000 24.7
 Earnings Per Share $0.73 $0.58 25.9
 Average Shares Outstanding 184,535,000 184,535,000 ---
 12 Months Ended Sept. 30,
 Percent
 1993 1992 Change
 Operating Revenues (billions) $5.230 $5.015 4.3
 Consolidated Net Income $509,624,000 $427,379,000 19.2
 Earnings Per Share $2.76 $2.32 19.0
 Average Shares Outstanding 184,535,000 184,535,000 ---
 -0- 10/20/93
 /CONTACT: Luke M. Feck, senior vice president, public affairs, of American Electric Power, 614-223-1650/
 (AEP)


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

BM-AR -- CL021 -- 4532 10/20/93 11:38 EDT
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Publication:PR Newswire
Date:Oct 20, 1993
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