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AMERICAN WATER WORKS REPORTS EARNINGS FOR THE THIRD QUARTER

 AMERICAN WATER WORKS REPORTS EARNINGS FOR THE THIRD QUARTER
 VOORHEES, N.J., Nov. 5 /PRNewswire/ -- American Water Works Company, Inc. (NYSE: AWK), today reported the second highest quarterly earnings ever achieved by the company. The third quarter net income to common stock of $22.2 million, or $.72 a share, compares with $27.5 million, or $.90 a share, for the quarter in 1991.
 George W. Johnstone, president of the company, noted that only earnings for the third quarter of 1991 were higher. This was accomplished despite the fact that the amount of water sold in the quarter was 7 percent less than in the third quarter last year. Revenues recorded in the third quarter of 1992 were 1 percent below revenues for the third quarter of 1991.
 "Hot, dry summer weather promoted outdoor use for irrigation and recreation last year," Johnstone said. "This year, frequent precipitation and cooler temperatures -- and a sluggish economy -- prevailed over most of the country. These factors are obviously beyond our control. We evaluate our business over a much longer period of time and, therefore, consider the year-to-date results as encouraging."
 Revenues for the nine months through September were $496.7 million, which was 4 percent above those for the period last year. Net income to common stock for the first three quarters was $52.5 million, or $1.70 a share, compared with $58.6 million, or $1.91 a share, for the period last year.
 For the three-, nine- and 12-month periods ended Sept. 30, American Water Works Company, Inc., reported unaudited consolidated revenues and income as follows:
 AMERICAN WATER WORKS COMPANY, INC.
 (Dollars in thousands, except per share amounts)
 Periods ended Three Months Nine Months 12 Months
 Sept. 30 1992 1991 1992 1991 1992 1991
 Operating
 revenues $176,284 $178,343 $496,722 $478,514 $654,187 $626,088
 Net income 23,158 28,515 55,522 61,302 67,813 77,423
 Dividends on
 preferred stocks 1,002 1,013 3,017 2,696 4,024 2,863
 Net income to
 common stock $ 22,156 $ 27,502 $ 52,505 $ 58,606 $ 63,789 $ 74,560
 Average shares
 of com. stock
 outstg. (in
 thousands) 30,995 30,769 30,915 30,712 30,883 30,686
 Earnings per
 common share
 on average
 shares outstg. $.72 $.90 $1.70 $1.91 $2.07 $2.43
 -0- 11/5/92
 /CONTACT: G. W. Johnstone, president and CEO of American Water Works Company, 609-346-8200/
 (AWK) CO: American Water Works Company, Inc. ST: New Jersey IN: UTI SU: ERN


GK-OS -- NY093 -- 7762 11/05/92 13:18 EST
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Publication:PR Newswire
Date:Nov 5, 1992
Words:432
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