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BG&E REPORTS EARNINGS FOR THE ONE MONTH ENDED JAN. 31, 1993

 BALTIMORE, Feb. 19 /PRNewswire/ -- Baltimore Gas and Electric Company (NYSE: BGE) today reported common stock earnings of $20,157,000 for the one month ended Jan. 31, 1993, equivalent to $.14 per common share.
 This compares with earnings of $15,974,000 or $.13 per share for the same period last year. Prior year per share amounts have been adjusted to reflect the April 1992 3-for-2 common stock split. Earnings per share for the company's utility operations and for its diversified activities were as follows:
 One Month Ended Jan. 31 1993 1992(A)
 Utility Operations $ .14 $ .12
 Diversified Activities --- .01
 Total $ .14 $ .13
 (A) Adjusted to reflect the 3-for-2 common stock split in April 1992.
 Edward A. Crooke, president and chief operating officer, said, "The improvement in utility earnings for the one month ended January 31, 1993, primarily stems from a one-time charge in January of 1992 associated with the company's voluntary special early retirement program which reduced last year's earnings. This increase was partially offset by lower gas sales resulting from mild January weather as compared to a year ago, as well as a higher number of average common shares outstanding."
 For the month ended Jan. 31, 1993, sales of electricity increased 1.7 percent, while gas sales fell 4.9 percent below last year's level. Both electric and gas sales reflect the impact of warmer temperature levels in January as compared to the same period last year. However, the effect of weather on electric sales was more than offset by increased sales to large commercial and industrial customers and an increase in the number of residential electric customers.
 Earnings from diversified business activities primarily represent the results of Constellation Holdings, Inc. and its subsidiaries.
 BALTIMORE GAS AND ELECTRIC COMPANY AND SUBSIDIARIES
 Consolidated Financial Information
 (In Thousands, Except Per Share Amounts)
 One Month Ended Jan. 31 1993 1992(A)
 Revenues:
 Electric $165,445 $173,559
 Gas 60,650 56,597
 Diversified Activities 10,490 8,653
 Total $236,585 $238,809
 Net Income $23,663 $19,499
 Earnings Applicable to Common Stock $20,157 $15,974
 Average Common Shares Outstanding 144,130 126,992
 Earnings Per Share of Common Stock:
 Utility Operations $.14 $.12
 Diversified Activities --- .01
 Total $.14 $.13
 (A) Adjusted to reflect the 3-for-2 common stock split in April 1992.
 -0- 2/19/93
 /CONTACT: Arthur J. Slusark, director of public information of Baltimore Gas and Electric, 410-234-7433/
 (BGE)


CO: Baltimore Gas and Electric Company ST: Maryland IN: UTI SU: ERN

MK -- PH024 -- 8468 02/19/93 14:47 EST
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Publication:PR Newswire
Date:Feb 19, 1993
Words:423
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