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PUBLIC SERVICE CO. OF COLORADO REPORTS FIRST QUARTER RESULTS

 PUBLIC SERVICE CO. OF COLORADO REPORTS FIRST QUARTER RESULTS
 DENVER, April 23 /PRNewswire/ -- Public Service Co. of Colorado (NYSE: PSR) Thursday reported net income of $46.2 million, or 76 cents per share, on revenues of $526.9 million for the first quarter ended March 31, 1992. Net income for the like period in 1991 was $45.1 million, or 77 cents per share, on revenues of $550.8 million.
 An electric rate reduction of approximately $3 million per month resulting from the June 1991 rate case settlement, coupled with a reduction in natural gas deliveries during the quarter, served to keep earnings relatively flat compared to the like quarter last year.
 During the first quarter of 1991, the company recognized $13.1 million in defueling and decommissioning expenses associated with Fort St. Vrain nuclear fuel shipping delays.
 Net income for the 12 months ended March 31, 1992 was $150.8 million, or $2.48 per share, on revenues of $1.8 billion. This compares to net income of $148.9 million or $2.53 per share, on revenues of $1.8 billion for the like 12-month period a year ago.
 PUBLIC SERVICE CO. OF COLORADO
 Financial Results
 March 31, 1992
 (Thousands of dollars)
 Three Months Ended
 March 31, Increase or (Decrease)
 1992 1991 Amount Percent
 Operating revenues $526,874 $550,843 $(23,969) (4.4)
 Operating income $71,504 $69,447 $2,057 3.0
 Net income $46,204 $45,093 $1,111 2.5
 Weighted average
 shares outstanding 56,701 54,746 1,955 3.6
 (Thousands)
 Earnings per share $0.76 $0.77 $(0.01) (1.3)
 Twelve Months Ended
 March 31, Increase or (Decrease)
 1992 1991 Amount Percent
 Operating revenues $1,770,925 $1,771,460 $(535) ---
 Operating income $245,635 $241,657 $3,978 1.6
 Net income $150,805 $148,947 $1,858 1.2
 Weighted average
 shares outstanding 55,960 54,044 1,916 3.5
 (Thousands)
 Earnings per share $2.48 $2.53 $(0.05) (2.0)
 -0- 4/23/92
 /CONTACT: Media Relations at Public Service Co. of Colorado, 303-294-8900/
 (PSR) CO: Public Service Co. of Colorado ST: Colorado IN: UTI SU: ERN


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Publication:PR Newswire
Date:Apr 23, 1992
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