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CENTRAL AND SOUTH WEST CORPORATION REPORTS THIRD QUARTER RESULTS

 CENTRAL AND SOUTH WEST CORPORATION REPORTS THIRD QUARTER RESULTS
 DALLAS, Oct. 22 /PRNewswire/ -- Central and South West Corporation (NYSE: CSR) reported consolidated earnings for the three-month period ended Sept. 30, 1992 of $170 million or $.91 per share. Earnings per share for the third quarter of 1992 decreased from $0.93 for the same period a year ago largely due to milder than normal weather this year. Net income for common decreased to $170 million from $175 million last year.
 Earnings per share of $1.60 for the nine-month period are below $1.69 for the same period last year. Net income for common for the nine months decreased to $300 million from $318 million. This decrease is also primarily the result of mild weather.
 Earnings for the 12-month period were also under last year's level with earnings per share of $1.90 compared to $1.92 for the same period a year ago. Net income for common for the twelve months decreased to $357 million from $361 million. The decrease is also related to mild weather this year. The weather effect is partially offset by income from Central Power and Light Company's (CPL) $120 million increase in base rates effective Jan. 1, 1991 and amortization of its Mirror CWIP liability to customers beginning with the first quarter of 1991. The base rate increase has substantially increased the quality of earnings and has improved cash flow.
 Central and South West said its retail kilowatt-hour sales decreased 1.4 percent for the quarter, 2.2 percent for the nine-months ended and 1.7 percent for the 12-months ended Sept. 30 due to continued mild weather throughout the service territory. Sales to all retail customer classes except industrial were down due to mild weather. Industrial sales are up 2.1 percent, 1.7 percent and 1.1 percent for the comparable periods. Sales for resale continue to be above last year as the result of additional customers.
 Central and South West Corporation, a Dallas-based public utility holding company, owns four electric subsidiary companies that provide service to portions of Texas, Oklahoma, Louisiana and Arkansas. It also owns an Oklahoma intrastate natural gas pipeline subsidiary and four other subsidiaries.
 -- FIRST AND FINAL ADD TO FOLLOW -- TABLES
 -0- 10/22/92
 /CONTACT: Wendy Hargus, director-investor relations of Central and South West, 214-754-1277/
 (CSR) CO: Central and South West Corporation ST: Texas IN: UTI SU: ERN


AH -- NY071 -- 3503 10/22/92 11:19 EDT
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Publication:PR Newswire
Date:Oct 22, 1992
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