Printer Friendly

MADISON GAS AND ELECTRIC CO. REPORTS 1ST HALF RESULTS

 MADISON GAS AND ELECTRIC CO. REPORTS 1ST HALF RESULTS
 MADISON, Wis., Aug. 13 /PRNewswire/ -- Madison Gas and Electric Co.


(OTC: MDSN) reported earnings for the second quarter ended June 30, 1992, of $0.31 per share compared with $0.23 earned in the same quarter a year ago. Earnings for the six months ended June 30, 1992, were $0.92 per share compared with $0.87 earned in the comparable six-month period a year ago. The 12-month earnings for the periods ended June 30 were $2.32 per share this year versus $2.17 last year. All earnings per share have been restated to reflect the company's three-for-two stock split effective Jan. 2, 1992.
 Revenues in the June 30 quarter just ended were $47 million compared with $46 million a year ago. Revenues in the first half of this year were $113 million compared with $116 million in the same year-ago period.
 Earnings for the 12 months ended June 30, 1992, remained at near record levels. Revenues for the first half of 1992 were down compared to the same period last year, while earnings rose more than 5 percent for the same period due to continuing cost-containment efforts, lower fuel costs and modest growth in the electric and natural gas customer base. Retail electric sales for the second quarter ended June 30, 1992, were down approximately 7 percent compared to the same period a year ago, while corresponding revenues were down 5 percent. This was due largely to unseasonably mild temperatures during the second quarter.
 MGE is a public utility that generates, transmits and distributes electricity to 114,000 customers throughout 250 square miles in Dane County. The company also transports and distributes natural gas to 90,000 customers throughout 962 square miles in Dane, Columbia and Iowa Counties.
 The common stock of MGE is traded over-the-counter (OTC), is reported through the NASDAQ National Market System and is quoted in the NASDAQ Automated Quotation System.
 MADISON GAS AND ELECTRIC CO.
 (Unaudited)
 Periods Ended Second Quarter
 June 30 1992 1991
 Operating revenue $46,918,000 $46,013,000
 Operating income 6,466,000 5,460,000
 Net income 3,488,000 2,572,000
 Average shares outstanding(A) 10,697,218 10,697,218
 Share earnings (A) $0.31 $0.23
 Periods Ended Six Months
 June 30 1992 1991
 Operating revenue $112,840,000 $116,010,000
 Operating income 15,755,000 15,362,000
 Net income 10,076,000 9,609,000
 Average shares outstanding(A) 10,697,218 10,695,561
 Share earnings(A) $0.92 $0.87
 Periods Ended Twelve Months
 June 30 1992 1991
 Operating revenue $229,030,000 $225,745,000
 Operating income 36,767,000 35,527,000
 Net income 25,348,000 23,602,000
 Average shares outstanding(A) 10,697,218 10,644,708
 Share earnings(A) $2.32 $2.17
 (A) Restated for three-for-two stock split effective January 1992.
 -0- 8/13/92
 /CONTACT: Joseph T. Krzos of Madison Gas and Electric Co., 608-252-7923, or Hal Bergen or Sharon Peters of Ruder-Finn, Chicago, 312-644-8600, for Madison Gas and Electric/
 (MDSN) CO: Madison Gas & Electric ST: Wisconsin IN: UTI SU: ERN


AH -- NY096 -- 9815 08/13/92 19:45 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 13, 1992
Words:537
Previous Article:BAXTER TO RETIRE 7-7/8 PERCENT DEBENTURES
Next Article:LACTC TO ANNOUNCE INSTALLATION OF LIGHT FIXTURES ON SAN DIEGO FREEWAY METRO CALL BOXES, AUG. 17
Topics:


Related Articles
MADISON GAS AND ELECTRIC REPORTS THIRD-QUARTER RESULTS
MADISON GAS & ELECTRIC PROMOTES FOUR EXECUTIVES
MADISON GAS & ELECTRIC PROMOTES FOUR EXECUTIVES
MADISON GAS AND ELECTRIC CO. REPORTS 1991 EARNINGS
MADISON GAS & ELECTRIC DECLARES REGULAR DIVIDEND
MADISON GAS AND ELECTRIC REPORTS FIRST-QUARTER RESULTS
MGE DECLARES REGULAR DIVIDEND
WILLIAMSON ELECTED ASSISTANT VICE PRESIDENT OF MADISON GAS & ELECTRIC
WPL HOLDINGS, INC. ANNOUNCES FIRST-QUARTER EARNINGS
WPL Holdings, Inc. Announces Second-Quarter Earnings

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters