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AMERICAN WATER EARNINGS INCREASED BY 24 PERCENT IN '91

 AMERICAN WATER EARNINGS INCREASED BY 24 PERCENT IN '91
 VOORHEES, N.J., Feb. 6 /PRNewswire/ -- American Water Works Company,


Inc. (NYSE: AWK), today reported a 24 percent increase in earnings for 1991.
 Net income to common stock for the fourth quarter was $11.3 million, or 36 cents a share, compared with $16 million, or 52 cents a share, for the quarter last year. George W. Johnstone, who became president and chief executive officer of the company last month, said the quarterly results in 1990 included 9 cents per share occasioned by "a regulatory decision that only affected that quarter." In addition, although revenues for the quarter were 7 percent above last year's, operating expenses -- including taxes -- were 12 percent higher.
 Net income to common stock for the year was $69.9 million, or $2.27 a share, compared with $56.4 million, or $1.85 a share, in 1990. Revenues for the year were $633 million, 11 percent higher than those for 1990. Total operating expenses were 10 percent higher than in the previous year.
 The board of directors in January increased the quarterly dividend on the common stock by 7.6 percent from 21-1/2 cents to 23-1/8 cents a share. It was the 17th consecutive annual increase in the dividend rate.
 American Water is the nation's largest investor-owned water supplier. Its 21 operating subsidiaries serve some 1.5 million customers in 20 states.
 AMERICAN WATER WORKS COMPANY
 Consolidated Revenues and Income
 (Dollars in thousands, except per share amounts)
 Periods ended Three Months 12 Months
 Dec. 31 1991 1990 1991 1990
 Operating revenues $155,641 $145,334 $632,958 $570,698
 Net income 12,291 16,121 73,593 57,088
 Dividends on
 preferred stocks 1,007 167 3,703 690
 Net income to common
 stock $ 11,284 $ 15,954 $ 69,890 $ 56,398
 Aver. shares of common
 stock outstanding
 (in thousands) 30,786 30,607 30,731 30,535
 Earnings per common
 share on average
 shares outstanding $.36 $.52 $2.27 $1.85
 -0- 2/6/92
 /CONTACT: George W. Johnstone, president of American Water, 609-346-8200/
 (AWK) CO: American Water Works Company, Inc. ST: New Jersey IN: UTI SU: ERN


GK-KW -- NY070 -- 7779 02/06/92 13:38 EST
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Date:Feb 6, 1992
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