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ENTERGY CORPORATION REPORTS EARNINGS RISE IN 1991

 ENTERGY CORPORATION REPORTS EARNINGS RISE IN 1991
 NEW ORLEANS, Feb. 17 /PRNewswire/ -- Entergy Corporation


(NYSE: ETR) today reported 1991 consolidated net income of $482 million, compared to $478.3 million in 1990.
 Earnings per share for 1991, including the effect of a 6.7 percent decrease in the average number of shares outstanding, were $2.64, an 8.2 percent increase over the $2.44 earned in 1990.
 "The increase in earnings per share was due mainly to the lower number of shares outstanding at the end of 1991, as a result of the corporation's common stock buyback program," said Gerald D. McInvale, Entergy Corporation senior vice president and chief financial officer.
 McInvale said that net income was basically unchanged from the prior year, adding that two significant, nonrecurring events that took place in 1991 nearly offset each other. The slight increase in net income was due primarily to the positive effect on earnings of the settlement of a prudence case involving New Orleans Public Service Inc. and the New Orleans City Council. This positive effect was largely offset, however, by the effect of a second quarter regulatory agreement involving System Energy Resources, Inc. In addition, a reduction in consolidated interest income further offset the effect of the prudence settlement.
 The settlement reached by NOPSI and the City Council provides for the recovery of certain previously deferred costs associated with Grand Gulf Nuclear Station. In accordance with the settlement, NOPSI recorded on its balance sheet $90 million of previously incurred Grand Gulf-related costs. NOPSI also recognized an after-tax gain of $48.6 million in the fourth quarter of 1991, as a result of the settlement.
 Significantly offsetting this gain was the effect of an agreement reached in the second quarter of 1991 which, among other things, reduced System Energy's allowed rate of return from 14 percent to 13 percent retroactive to April 1990. Another offsetting factor was lower interest income earned this year compared to 1990.
 Fourth Quarter Results Explained
 In the fourth quarter 1991, consolidated net income was $111.3 million, compared to $70.7 million in the fourth quarter a year earlier. Earnings per share, including the effects of a 3.1 percent decrease in the average number of shares outstanding, rose from 38 cents to 61 cents.
 The increase in net income was due primarily to the impact of the settlement between NOPSI and the City Council, which was slightly offset by reduced interest income earned in the same quarter.
 SUMMARY OF CONSOLIDATED OPERATING RESULTS
 (Unaudited)
 (In thousands, except per-share amounts)
 3 mos. ended Dec. 31 1991 1990 Pct. chg.
 Total operating revenues $ 921,973 $ 926,103 (0.4)
 Electric operating revenues $ 900,857 $ 900,418 ---
 Total operating expenses $ 664,417 $ 702,724 (5.5)
 Fuel and fuel-related expenses,
 purchased power, purchased gas$ 211,362 $ 242,800 (12.9)
 Rate deferrals - net $ (60,387) $ 973 ---
 Consolidated net income $ 111,292 $ 70,678 57.5
 Earnings per common share
 on consol. net income $ 0.61 $ 0.38 63.2
 Average number of shares
 outstanding 180,147 185,920 (3.1)
 Total electric energy sales
 (millions of KWH) 15,203 14,549 4.5
 Energy sales to ret. custs. 13,457 13,147 2.4
 12 mos. ended Dec. 31 1991 1990 Pct. chg.
 Total operating revenues $4,051,429 $3,982,062 1.7
 Electric operating revenues $3,974,478 $3,894,119 2.1
 Total operating expenses $2,984,399 $2,934,977 1.7
 Fuel and fuel-related expenses,
 purchased power, purchased gas$ 911,103 $1,025,502 (3.4)
 Rate deferrals - net $ (12,843) $ (32,958) ---
 Consolidated net income $ 482,032 $ 478,318 0.8
 Earnings per common share
 on consol. net income $ 2.64 $ 2.44 8.2
 Average number of shares
 outstanding 182,665 195,877 (6.7)
 Total electric energy sales
 (millions of KWH) 64,208 62,069 3.4
 Energy sales to ret. custs. 56,862 55,777 1.9
 -0- 2/17/92
 /CONTACT: Media: Kirk Carney, 504-569-4156; Investors: Richard Strawn, 504-569-4360, both of Entergy Corporation/
 (ETR) CO: Entergy Corporation ST: Louisiana IN: OIL SU: ERN


BN-CF -- AT010 -- 0549 02/17/92 11:12 EST
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Date:Feb 17, 1992
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