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NIPSCO INDUSTRIES REPORTS EARNINGS

 NIPSCO INDUSTRIES REPORTS EARNINGS
 HAMMOND, Ind., April 30 /PRNewswire/ -- NIPSCO Industries, Inc.


(NYSE: NI) today reported net income of $48.2 million for the first quarter ended March 31, 1992, compared to $46.1 million for the first quarter of last year.
 Earnings for the three months ended March 31, 1992 were 70 cents per average common share, compared to 66 cents for the same period in 1991.
 Revenues for the first quarter of 1992 were $474.0 million compared to $462.3 million in the first quarter of 1991.
 For the first quarter of 1992, gas deliveries increased 5 percent, reflecting the gas deliveries of the recently purchased Kokomo Gas and Fuel Company and increased deliveries to Northern Indiana Public Service Company's industrial customers. Electric sales increased reflecting increased commercial, industrial and wholesale sales compared to the same period a year ago.
 For the 12 months ended March 31, 1992, the company recorded net income of $135.5 million or earnings of $1.98 per average common share, compared to $129.0 million or earnings per share of $1.86 for the 12 months ended March 31, 1991.
 Revenues for the 12-month period were $1.547 billion compared to $1.530 billion for the same period ending March 31, 1991.
 For the 12 months ended March 31, 1992, electric sales increased 7 percent, reflecting increased residential, commercial and wholesale sales. Gas deliveries for the period remained relatively unchanged.
 THREE MONTHS ENDED MARCH 31 1992 1991
 (DOLLARS IN THOUSANDS)
 Operating Revenues:
 Gas
 Sales $236,203 $229,953
 Transport $13,127 $14,950
 Electric $224,687 $217,397
 Total $ 474,017 $ 462,300
 Net Income $ 48,247 $ 46,111
 Dividend Requirements on
 Preferred Shares 766 766
 Balance Available for Common
 Shareholders $ 47,481 $ 45,345
 Average Common Shares Outstanding 66,880,536 67,842,454
 Earnings per Average Common Share $ .70 $.66
 Dividends Declared per common share $.31 $.29
 Gas Sales (MDth) 47,529 46,780
 Gas Transported (MDth) 40,526 36,999
 Electric Sales (Mwh) 3,559,544 3,093,120
 TWELVE MONTHS ENDED MARCH 31 1992 1991
 (DOLLARS IN THOUSANDS)
 Operating Revenues:
 Gas
 Sales $561,514 $561,864
 Transport $44,833 $70,129
 Electric $940,531 $897,680
 Total $1,546,878 $1,529,673
 Net Income $ 135,524 $ 128,972
 Dividend Requirements
 on Preferred Shares $ 3,063 $ 1,039
 Balance Available for Common
 Shareholders $132,461 $127,933
 Average Common Shares
 Outstanding 66,798,534 68,741,673
 Earnings per Average Common Share $1.98 $1.86
 Dividends Declared per Common Share $1.20 $1.10
 Gas Sales (MDth) 108,350 110,864
 Gas Transported (MDth) 139,448 136,374
 Electric Sales (Mwh) 14,145,469 13,218,722
 -0- 4/30/92
 /CONTACT: Thomas J. Kalley of NIPSCO Industries, Inc., 219-647-6203/
 (NI) CO: NIPSCO Industries, Inc. ST: Indiana IN: UTI SU: ERN


KK -- CL012 -- 5116 04/30/92 16:16 EDT
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Publication:PR Newswire
Date:Apr 30, 1992
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