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PUBLIC SERVICE CO. OF COLORADO ANNOUNCES THIRD QUARTER RESULTS

 PUBLIC SERVICE CO. OF COLORADO ANNOUNCES THIRD QUARTER RESULTS
 DENVER, Oct. 22 /PRNewswire/ -- Public Service Co. of Colorado (NYSE: PSR) on Thursday reported net income of $29.8 million, or 46 cents per share, on revenues of $407.3 million for the third quarter ended Sept. 30, 1992. Net income for the like period in 1991 was $34.3 million, or 56 cents per share, on revenues of $379.7 million.
 Earnings were down in the current quarter primarily as a result of a rate reduction implemented in January 1992, which was part of a 1991 electric rate settlement agreement, as well as lower retail electric sales due to mild summer weather. In addition, earnings were negatively impacted by increased non-utility operating and maintenance expenses.
 For the nine months ended Sept. 30, 1992, Public Service Co. reported net income of $105.0 million, or $1.67 per share, on revenues of $1.36 billion. For the like period in 1991, net income was $91.6 million, or $1.49 per share, on revenues of $1.32 billion.
 Net income for the 12 months ended Sept. 30, 1992, was $163.0 million, or $2.65 per share, on revenues of $1.83 billion. This compares to net income of $131.1 million, or $2.16 per share, on revenues of $1.76 billion for the like 12-month period a year ago. Earnings for the 12-month period ended Sept. 30, 1991, were negatively affected by expenses associated with Fort St. Vrain.
 In other news, a proposed Nov. 2, 1992, rate case filing first announced by the company in June 1991 has been postponed 60 to 90 days, said Richard C. Kelly, senior vice president of finance and administration.
 "Several factors have entered into the extension of the filing date, including the acquisition of Colorado Ute Electric Association and the merger of the company with its WestGas subsidiary," Kelly said.
 PUBLIC SERVICE CO. OF COLORADO
 FINANCIAL RESULTS
 Sept. 30, 1992
 (Thousands of Dollars)
 Three Months Ended
 Sept. 30, Increase or (Decrease)
 1992 1991 Amount Percent
 Operating revenues $407,326 $379,693 $27,633 7.3
 Operating income $61,323 $58,114 $3,209 5.5
 Net income $29,840 $34,340 $(4,500) (13.1)
 Weighted average shares
 outstanding (thousands) 57,840 55,721 2,119 3.8
 Earnings per share $0.46 $0.56 $(0.10) (17.9)
 Nine Months Ended
 Sept. 30, Increase or (Decrease)
 1992 1991 Amount Percent
 Operating revenues $1,356,689 $1,321,259 $35,430 2.7
 Operating income $191,109 $163,324 $27,785 17.0
 Net income $104,992 $91,645 $13,347 14.6
 Weighted average shares
 oustanding (thousands) 57,308 55,245 2,063 3.7
 Earnings per share $1.67 $1.49 $0.18 12.1
 Twelve Months Ended
 Sept. 30, Increase or (Decrease)
 1992 1991 Amount Percent
 Operating revenues $1,830,322 $1,758,827 $71,495 4.1
 Operating income $271,354 $225,789 $45,565 20.2
 Net income $163,041 $131,053 $31,988 24.4
 Weighted average shares
 oustanding (thousands) 57,019 54,981 2,038 3.7
 Earnings per share $2.65 $2.16 $0.49 22.7
 -0- 10/22/92
 /CONTACT: Media Relations of Public Service Co. of Colorado, 303-294-8900/
 (PSR) CO: Public Service Co. of Colorado ST: Colorado IN: UTI SU: ERN


BB -- DV009 -- 3554 10/22/92 11:57 EDT
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Date:Oct 22, 1992
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