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PUBLIC SERVICE ENTERPRISE GROUP REPORTS RESULTS

 PUBLIC SERVICE ENTERPRISE GROUP REPORTS RESULTS
 NEWARK, N.J., Nov. 19 /PRNewswire/ -- Public Service Enterprise


Group Incorporated (NYSE: PEG) today reported the following results:
 PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED
 Consolidated Statements of Income
 (Thousands of dollars)
 Periods ended Ten Months Twelve Months
 Oct. 31; 1991 1990 1991 1990
 Operating Revenues
 Electric $2,965,898 $2,790,163 $3,508,152 $3,326,910
 Gas 1,019,936 977,591 1,279,092 1,360,608
 Nonutility activities 229,962 190,704 270,229 226,702
 Total oper. revenues 4,215,796 3,958,458 5,057,473 4,914,220
 Operating Expenses Before Federal Income Taxes
 Operation
 Fuel for elec. gen. &
 net intchngd. power 654,732 606,080 766,022 731,411
 Gas purchased &
 materials for
 gas produced 496,162 498,825 623,493 701,501
 Other 678,401 637,059 843,936 795,432
 Maintenance 253,976 233,712 306,135 294,176
 Depreciation &
 amortization 502,557 468,151 595,890 558,459
 New Jersey gross
 receipts taxes 484,304 461,183 581,783 576,736
 Other taxes 54,224 56,305 64,072 67,327
 Total oper. exps. before
 fed. inc. taxes 3,124,356 2,961,315 3,781,311 3,725,042
 Operating income bef.
 federal inc. taxes 1,091,440 997,143 1,276,162 1,189,178
 Federal Income Taxes
 Current 143,834 138,506 146,670 161,680
 Deferred-net 106,306 68,766 124,001 87,979
 Investment
 tax credits-net (17,566) (19,748) (17,236) (23,724)
 Total federal
 income taxes 232,574 187,524 253,435 225,935
 Total oper. exps. 3,356,930 3,148,839 4,034,746 3,950,977
 Operating income 858,866 809,619 1,022,727 963,243
 Other Income
 Allowance for funds
 used during
 construction-equity 6,055 13,837 9,205 16,249
 Miscellaneous-net 11,254 9,358 12,415 10,871
 Total other income 17,309 23,195 21,620 27,120
 Income before int.
 charges & divs.
 for pfd. stock 876,175 832,814 1,044,347 990,363
 Interest charges
 Long-term debt 360,339 332,795 431,833 396,978
 Short-term debt 32,506 29,265 41,086 35,712
 Other 11,618 14,984 16,725 24,864
 Total interest charges 404,463 377,044 489,644 457,554
 Allowance for funds used
 during construction-debt
 & capitalized interest (32,396) (25,491) (39,434) (28,056)
 Net interest charges 372,067 351,553 450,210 429,498
 Pfd. stock div.
 requirements 24,177 24,177 29,012 29,012
 Net income 479,931 457,084 565,125 531,853
 Earns. per share
 of common stock 2.15 2.16 2.55 2.52
 Average shares of common
 stock outstanding 223,080,453 211,508,460 221,619,477 211,440,266
 -0- 11/19/91
 /CONTACT: Neil Brown of Public Service Enterprise Group, 201-430-6017/
 (PEG) CO: Public Service Enterprise Group Incorporated ST: New Jersey IN: UTI SU: ERN PS-JT -- NY083 -- 5149 11/19/91 17:29 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 19, 1991
Words:505
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