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CP&L REPORTS FIRST QUARTER EARNINGS Earnings, Revenues and Sales Up

 CP&L REPORTS FIRST QUARTER EARNINGS
 Earnings, Revenues and Sales Up
 RALEIGH, N.C., April 21 /PRNewswire/ -- Carolina Power & Light (NYSE: CPL) today reported increased earnings, revenues and energy sales for the first quarter of 1992 compared to the same period a year ago.
 First quarter 1992 energy sales increased more than seven percent compared
to the same period a year ago. Operating revenues in the first quarter of this year totaled $658.3 million, an increase of more than three percent compared to the first quarter of 1991. The company reported earnings for first quarter 1992 of $1.15 per share compared to $1.08 for the same period a year ago, and net income totaled $94.2 million in the first quarter this year compared to $90.5 million for the same period last year.
 "Our energy sales increased the first quarter of this year reflecting slightly cooler weather conditions and strong growth in industrial sales," said Charles D. Barham Jr., CP&L executive vice president and chief financial officer.
 For the 12 months ending March 31, 1992, earnings per common share were $4.60 compared to $3.27 for the same period the previous year. Earnings for the 12 months ending March 31, 1991, were negatively impacted by write-offs in the second quarter of 1990 related to the regulatory treatment of a part of the company's investment in the Harris plant and by tax-related adjustments in the fourth quarter of 1990. Operating revenues for the current 12 months totaled $2.7 billion, an increase of more than two percent, and energy sales rose four percent.
 CP&L serves approximately 989,000 customers in central and eastern North Carolina, an area around Asheville in western North Carolina, and the Pee Dee area of South Carolina.
 -0- 4/21/92
 /CONTACT: Kyle Hampton or Wade Pridgen, CP&L, 919-546-6189 (24-Hour Media Line)/
 (CPL) CO: Carolina Power & Light Company ST: North Carolina, South Carolina IN: UTI SU: ERN


CM -- CH001 -- 0471 04/21/92 10:02 EDT
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Publication:PR Newswire
Date:Apr 21, 1992
Words:337
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