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E'TOWN CORPORATION REPORTS SALES AND EARNINGS

 WESTFIELD, N.J., July 15 /PRNewswire/ -- E'town Corporation (NYSE: ETW) today reported net income of $3,436,594 or $.66 per share on a primary basis and $.64 per share on a fully diluted basis for the three months ended June 30, 1993. In the comparable 1992 period net income was $2,569,527 or $.55 per share on a primary basis and $.54 per share on fully diluted basis.
 For the six months ended June 30, 1993, net income was $5,516,505 or $1.09 per share on a primary basis and $1.08 per share on a fully diluted basis. In the comparable 1992 period net income was $4,536,783 or $1.02 per share on a primary basis and $1.01 per share on a fully diluted basis.
 Net income for the 12 months ended June 30, 1993, was $11,210,734 or $2.27 per share on a primary basis and $2.24 per share on a fully diluted basis. In the comparable 1992 period net income was $9,315,677 or $2.17 per share on a primary basis and $2.14 per share on a fully diluted basis.
 Operating revenues for the three months, six months and 12 months ended June 30, 1993, were $24,864,753; $47,000,408 and $92,942,162, respectively, compared to $22,422,795; $43,225,583 and $86,985,410 for the same periods in 1992.
 E'town Corporation is the parent company of Elizabethtown Water Company and E'town Properties, Inc. Elizabethtown Water Company and its subsidiary, The Mount Holly Water Company, provide water service to 54 municipalities in eight New Jersey counties.
 E'TOWN CORPORATION
 Three Months Ended Six Months Ended
 6/30/93 6/30/92 6/30/93 6/30/92
 Operating revenues $24,864,753 $22,422,795 $47,000,408 $43,225,583
 Net income $3,436,594 $2,569,527 $5,516,505 $4,536,783
 Earnings per share of
 common stock:
 Primary $.66 $.55 $1.09 $1.02
 Fully diluted $.64 $.54 $1.08 $1.01
 Average number of shares
 outstanding for the
 calculation of earnings
 per share:
 Primary 5,236,597 4,656,414 5,068,321 4,430,127
 Fully diluted 5,550,729 4,980,608 5,383,235 4,755,838
 12 Months Ended
 6/30/93 6/30/92
 Operating revenues $92,942,162 $86,985,410
 Net income $11,210,734 $9,315,677
 Earnings per share of
 common stock:
 Primary $2.27 $2.17
 Fully diluted $2.24 $2.14
 Average number of shares
 outstanding for the
 calculation of earnings
 per share:
 Primary 4,944,830 4,297,734
 Fully diluted 5,262,422 4,625,957
 -0- 7/15/93
 /CONTACT: Andrew M. Chapman of E'town Corporation, 908-654-1234/
 (ETW)


CO: E'town Corporation ST: Minnesota IN: UTI SU: ERN

KH -- MN014 -- 1856 07/15/93 10:30 EDT
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Publication:PR Newswire
Date:Jul 15, 1993
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