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KCS ENERGY EARNINGS UP 56 PERCENT OVER PREVIOUS YEAR

 KCS ENERGY EARNINGS UP 56 PERCENT OVER PREVIOUS YEAR
 EDISON, N.J., Aug. 4 /PRNewswire/ -- KCS Energy, Inc. (NASDAQ: KCSE)


today reported net income for its third fiscal quarter ended June 30, 1992 of $682,000, or 25 cents per share, compared to $430,000, or 16 cents per share, for the same quarter in fiscal 1991, an earnings increase of 56 percent.
 Sales increased 42 percent to a record $34,003,000 compared to $23,898,000 in the 1991 fiscal quarter.
 For the nine months ended June 30, 1992, KCS Energy reported net income of $1,780,000, or 65 cents per share, compared to $1,635,000, or 61 cents per share in 1991. Sales were a record $107,161,000 compared to $75,468,000 in the 1991 period.
 "This is one of the best quarter-to-quarter results we have reported," James W. Christmas, KCS Energy's president, said. He said a court decision in June upholding an above-market gas contract between KCS Energy and Tennessee Gas Pipeline Co. and awarding KCS Energy a substantial portion of its legal fees was an important factor in the earnings improvement. Litigation costs in this case had been previously expensed, he said. Production under this contract is increasing as new wells are developed on the property. Development of an adjoining field, also under the contract, will begin during the fourth fiscal quarter, he said.
 One of the nation's 100 largest oil and gas producers, KCS Energy is engaged in oil and gas exploration and production, natural gas transportation, natural gas marketing and energy services with operations in Texas, Louisiana, Mississippi, New York, New Jersey, Virginia and Pennsylvania.
 KCS ENERGY, INC.
 Comparative Table
 (Thousands of dollars, except per share)
 Three months ended June 30 1992 1991
 Operating revenues $34,003 $23,898
 Operating income 1,042 735
 Interest and other income 221 189
 Interest expense (337) (296)
 Income before income taxes 926 628
 Federal and state income taxes 244 198
 Net income $ 682 $ 430
 Earnings per share of common stock
 and common stock equivalents $0.25 $0.16
 Average shares of common stock
 and common stock equivalents
 outstanding 2,766,753 2,690,502
 Earnings per share assuming
 full dilution $0.24 $0.16
 Average shares of common stock
 and common stock equivalents
 assuming full dilution 2,788,956 2,691,165
 Nine months ended June 30 1992 1991
 Operating revenues $107,161 $ 75,468
 Operating income 2,937 2,718
 Interest and other income 575 485
 Interest expense (987) (816)
 Income before income taxes 2,525 2,387
 Federal and state income taxes 745 752
 Net income $ 1,780 $ 1,635
 Earnings per share of common stock
 and common stock equivalents $0.65 $0.61
 Average shares of common stock
 and common stock equivalents
 outstanding 2,739,599 2,702,643
 Earnings per share assuming
 full dilution $0.64 $0.60
 Average shares of common stock
 and common stock equivalents
 assuming full dilution 2,799,383 2,702,865
 -0- 8/4/92
 /CONTACT: Henry A. Jurand of KCS Energy, 908-632-1770/
 (KCSE) CO: KCS Energy, Inc. ST: New Jersey IN: OIL SU: ERN


GK-KW -- NY028 -- 6640 08/04/92 12:01 EDT
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