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DOMINGUEZ SERVICES CORP. ANNOUNCES QUARTER GAINS

 CARSON, Calif., May 12 /PRNewswire/ -- C.W. Porter, president of Dominguez Services Corp. (NASDAQ: DOMZ), today announced revenues for the quarter ended March 31, 1993, in the amount of $4,687,968, and net income in the amount of $282,636, compared to revenues of $4,131,315, and net income of $147,025 for the same period last year. For the 12 months ended March 31, 1993, revenues totaled $22,369,137, and net income was $1,675,191, compared to $18,592,974 and $1,256,593, respectively, for the same period last year. Earnings per share for the quarter reached $0.28, compared to $0.15 in the first quarter of 1992. Earnings per share for the 12 months ended the same date were $1.66, compared to $1.25 for the same period last year.
 The company's increased earnings may be attributed primarily to a rate increase for the South Bay system granted by the California Public Utilities Commission on Jan. 1, 1993. Also, overall sales were up slightly as customers responded to news of the end of the drought.
 All eight board members were re-elected at the May 6 annual shareholders' meeting.
 At the same meeting, the board of directors declared the regular quarterly dividend on the 1,004,370 shares of common stock in the amount of $0.265 per share. The quarterly dividend on the Class A, preferred stock was declared at $0.3325 per share. Dividends will be paid on June 15, 1993, to shareholders of record as of May 21, 1993.
 Dominguez Services Corp. is the holding company for several water utilities, the largest of which is Dominguez Water Corp., serving more than 100,000 customers in the Carson/Torrance area of Los Angeles County. Dominguez also holds systems in the Kern River Valley area of Kern County and Antelope Valley. The company's non- regulated subsidiary, Hydro-Metric, specializes in meter repair. Dominguez Services Corp. is traded on NASDAQ, symbol DOMZ.
 -0- 5/12/93
 /CONTACT: Rubye Rittgers of Dominguez Services, 310-834-2625/
 (DOMZ)


CO: Dominguez Services Corp.; Dominguez Water Corp. ST: California IN: UTI SU: ERN DIV

BP-LS -- LA039 -- 7828 05/12/93 18:34 EDT
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Publication:PR Newswire
Date:May 12, 1993
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