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CASCADE NATURAL GAS REPORTS EARNINGS

 CASCADE NATURAL GAS REPORTS EARNINGS
 SEATTLE, Oct. 21 /PRNewswire/ -- Cascade Natural Gas Corp.


(NYSE: CGC) reported a loss of $2,123,000, or 48 cents per share of common stock, for the third quarter of 1992, as compared to a loss of $1,612,000, or 37 cents per share, for the comparable quarter one year ago. Earnings for the nine months ended Sept. 30, 1992, were $286,000, or 6 cents per share, compared to $4,479,000, or $1.02 per share, for the comparable period one year ago, due primarily to the unusually warm weather in the latest nine months. Management estimates that the warm weather reduced the nine-months earnings by a least 69 cents per share.
 Customer growth continued at a very strong pace in the third quarter which is normally a non-heating period. Total customers increased 8.3 percent, while residential customers increased 9.0 percent over September 1991. Operating expenses, including a $150,000 provision for environmental cleanup, increased 9.6 percent in the quarter and 7.0 percent in the nine-month period over the similar periods one year ago. Payroll and related expenses account for the remainder and have increased to meet the requirement of a growing customer base.
 Gas deliveries to core market were up 5.4 percent in the third quarter and down 10.8 percent in the nine-month period compared to the comparable periods one year ago. Non-core deliveries were up 56.5 percent in the third quarter and 20.1 percent in the nine-month period compared to one year ago. The significant increase in deliveries to the non-core market is entirely attributable to the electric generation market.
 CASCADE NATURAL GAS CORP.
 FINANCIAL HIGHLIGHTS
 (In thousands, except share amounts)
 1992
 Three Months Ended Year
 March 31 June 30 Sept. 30 To Date
 Operating margin $16,946 $ 9,651 $ 8,175 $34,772
 Operating expense 11,482 8,928 8,327 28,737
 Operating income 5,464 723 (152) 6,035
 Interest charges 1,728 1,751 1,822 5,301
 Net income 3,736 (1,028) (1,974) 734
 Preferred dividends 150 149 149 448
 Earnings on common $ 3,586 $(1,177) $(2,123) $ 286
 Common Shares Outstanding:
 End of period 4,432 4,449 4,461 4,461
 Average 4,425 4,437 4,453 4,434
 Earnings per share $ 0.81 $ (0.27) $ (0.48) $ 0.06
 Dividends paid per share $ 0.34 $ 0.35 $ 0.35 $ 1.04
 Core customers (end of
 period) 117 115 116 116
 Gas Deliveries
 Core customers 64,346 29,044 23,472 116,862
 Non-core customers 100,828 92,722 115,753 309,303
 Degree Days
 Normal 2,373 982 318 3,673
 Actual 1,770 544 216 2,530
 Warmer than normal (percent) 25 45 32 31
 1991
 Three Months Ended Year
 March 31 June 30 Sept. 30 Dec. 31 To Date
 Operating margin $20,874 $10,846 $ 8,006 $ 15,626 $55,352
 Operating expense 12,243 9,200 7,831 10,627 39,901
 Operating income 8,631 1,646 175 4,999 15,451
 Interest charges 2,286 1,829 1,751 1,934 7,800
 Net income 6,345 (183) (1,576) 3,065 7,651
 Preferred dividends 36 36 36 40 148
 Earnings on common $ 6,309 $ (219) $(1,612) $ 3,025 $ 7,503
 Common Shares Outstanding:
 End of period 4,386 4,397 4,410 4,421 4,421
 Average 4,380 4,390 4,402 4,414 4,391
 Earnings per share $ 1.44 $ (0.05) $ (0.37) $ 0.69 $ 1.71
 Dividends paid per share $ 0.33 $ 0.34 $ 0.34 $ 0.34 $ 1.35
 Core customers (end of
 period) 108 108 107 115 115
 Gas Deliveries
 Core customers 73,983 34,756 22,264 65,184 196,187
 Non-core customers 97,253 86,321 73,949 105,112 362,635
 Degree Days
 Normal 2,373 982 318 2,002 5,675
 Actual 2,200 1,009 225 1,957 5,391
 Warmer than normal (percent) 7 -3 29 2 5
 -0- 10/21/92
 /CONTACT: Donald E. Bennett, executive vice president, chief financial officer and secretary, Cascade Natural Gas, 206-624-3900/
 (CGC) CO: Cascade Natural Gas Corp. ST: Washington IN: UTI SU: ERN


SW-JH -- SE007 -- 3125 10/21/92 16:59 EDT
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Date:Oct 21, 1992
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/C O R R E C T I O N -- Cascade Natural Gas Corp./(Correction Notice)

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