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NYSEG EXPECTS LOWER SECOND QUARTER EARNINGS

 BINGHAMTON, N.Y., June 25 /PRNewswire/ -- New York State Electric & Gas Corporation (NYSEG) (NYSE: NGE) today reported that it expects second quarter 1993 earnings to be below comparable earnings for the second quarter of last year.
 Earnings for the quarter ended June 30, 1992, were reported at 60 cents per share, but did not reflect a change in accounting for unbilled revenues adopted later in 1992. Had that accounting change been in effect for the entire 1992 calendar year, earnings would have been 39 cents per share for the second quarter.
 "We continue to experience weak electric sales as a result of the sluggish economy," said James A. Carrigg, chairman, president and chief executive officer. "Despite those weak sales, the company remains committed to earning its allowed return on common equity in 1993 and beyond. We will do that through cost-cutting measures established earlier this year and by continuing our aggressive marketing efforts."
 -0- 6/25/93
 /CONTACT: Clayton M. Ellis, media specialist, New York State Electric & Gas Corporation, 607-762-4301/
 (NGE)


CO: New York State Electric & Gas Corporation ST: New York IN: UTI SU: ERP

AR -- CL010 -- 5785 06/25/93 13:42 EDT
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Publication:PR Newswire
Date:Jun 25, 1993
Words:194
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