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DOMINGUEZ SERVICES CORP. ANNOUNCES QUARTERLY EARNINGS AND DIVIDENDS

 CARSON, Calif., Oct. 29 /PRNewswire/ -- C.W. Porter, president of Dominguez Services Corp., (NASDAQ: DOMZ) today announced earnings per share for the quarter ended Sept. 30, 1993, reached $0.67, compared to $0.56 in the third quarter of 1992. Earnings per share for the nine months ended the same date were $1.55 compared to $1.02 for the same period last year. Earnings per share for the 12 months ended the same date were $2.06, compared to $1.31 for the same period last year. The 12 months ended earnings per share include additional earnings due to the recording of the company's balancing account in the fourth quarter of 1992. At this time, the company does not anticipate that its year end earnings will reach this level. Revenues for the quarter ended Sept. 30, 1993, were in the amount of $6,478,650 and net income in the amount of $675,755, compared to revenues of $6,681,984 and net income of $559,586 for the same period last year. For the nine months ended Sept. 30, 1993, revenues totaled $16,947,253 and net income was $1,558,818 compared to $15,762,727 and $1,025,872, respectively, for the same period last year. For the 12 months ended Sept. 30, 1993, revenues totaled $22,997,010 and net income was $2,072,526, compared to $20,580,969 and $1,319,634, respectively, for the same period last year.
 On Wednesday, Oct. 28, 1993, the board of directors of Dominguez Services Corp. declared the regular quarterly dividend on the 1,004,370 outstanding shares of common stock. The dividend of 26 1/2 cents per share will be paid on Dec. 15, 1993, to shareholders of record as of Nov. 19, 1993. Dividends have been paid by the company since 1973 and this is the 122nd consecutive quarterly dividend declared.
 At the same meeting the board of directors declared the regular quarterly dividend on the 3,901 shares of Class A Preferred Stock of the corporation in the amount of 31 1/4 cents per share to shareholders of record as of Nov. 19, 1993, to be paid on Dec. 15, 1993.
 Dominguez Services Corp. is the holding company for several water utilities, the largest of which is Dominguez Water Corp., serving over 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- 10/29/93
 /CONTACT: Rubye Rittgers, 310-834-2625/
 (DOMZ)


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

NY-JB -- LA026 -- 8611 10/29/93 15:01 EDT
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Publication:PR Newswire
Date:Oct 29, 1993
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