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PHILADELPHIA SUBURBAN REPORTS HIGHER EARNINGS

 PHILADELPHIA SUBURBAN REPORTS HIGHER EARNINGS
 BRYN MAWR, Pa., May 8 /PRNewswire/ -- Philadelphia Suburban


Corporation (NYSE: PSC) today reported income from continuing operations in the first quarter of $2.1 million or $.26 per share, an increase of $.01 per share from the same period in 1991.
 Net income was also $.26 per share compared to $.21 per share or $1.6 million in the first quarter of 1991, which included losses from one of the company's nonregulated operations prior to the decision to sell that business.
 Revenues from continuing operations for the first quarter totaled $22.9 million, an increase of 15 percent compared to the same period in 1991. The increase in revenues was primarily due to rate increases granted in the fall of 1991. Customer usage of water during the quarter was also slightly ahead of 1991.
 John W. Boyer Jr., president and chairman of Philadelphia Suburban Corporation, stated, "Although the company's water utility received a 7.7 percent rate increase last fall, the higher rates have basically offset increased utility operating expenses." Boyer also stated, "Even though the region has only received approximately one-half of its normal rainfall this year, our reservoirs are virtually full and we are confident in our ability to serve our customers this summer."
 Philadelphia Suburban Corporation operates Philadelphia Suburban Water Company, one of the nation's largest investor-owned water utilities.
 PHILADELPHIA SUBURBAN CORPORATION
 (Unaudited; in thousands of dollars)
 Quarter ended March 31 1992 1991
 Earned revenues $22,925 $19,885
 Income (loss):
 Continuing operations 2,102 1,916
 Discontinued operations --- (290)
 Net income 2,102 1,626
 Income (loss) per share:
 Continuing operations $.26 $.25
 Discontinued operations --- (.04)
 Net income per share .26 .21
 Average common & common equivalent shares
 outstanding during the period 8,084,000 7,814,000
 /delval/
 -0- 5/8/92
 /CONTACT: Michael P. Graham, vp-finance of Philadelphia Suburban, 215-645-1087/
 (PSC) CO: Philadelphia Suburban Corporation ST: Pennsylvania IN: UTI SU: ERN


MK-LJ -- PH003 -- 8006 05/08/92 10:11 EDT
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Date:May 8, 1992
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