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PUGET POWER REPORTS 1993 FIRST-QUARTER RESULTS

 BELLEVUE, Wash., April 22 /PRNewswire/ -- Puget Sound Power & Light Co. (NYSE: PSD) today reported slightly improved financial results for the first three months of 1993 compared to the same period a year ago.
 The company said it earned 86 cents per share of common stock for the three months ending March 31, 1993, compared with 83 cents for the corresponding period in 1992. Operating revenues for the first quarter were $324 million compared with $280.2 million a year ago, and net income available for common stock was $50.3 million compared with $46.1 million for the same quarter in 1992.
 For the 12-month period ending March 31, 1993, the company reported earnings of $2.21 per share compared with $2.07 a year ago. Operating revenues were $1.07 billion and $960.9 million, respectively, while income available for common stock was $126.1 million and $115 million, respectively.
 A summary of financial results follows:
 PUGET SOUND POWER & LIGHT CO.
 For Three Months Ending March 31: 1993 1992
 Operating revenues (000) $ 323,974 $ 280,202
 Net income (000) $ 54,682 $ 48,032
 Income for common stock (000) $ 50,343 $ 46,073
 Earnings per share $ 0.86 $ 0.83
 Average common shares outstanding
 (weighted average) 58,766,352 55,561,647
 For 12 Months Ending March 31: 1993 1992
 Operating revenues (000) $ 1,068,742 $ 960,887
 Net income (000) $ 142,370 $ 124,247
 Income for common stock (000) $ 126,106 $ 115,017
 Earnings per share $ 2.21 $ 2.07
 Average common shares outstanding
 (weighted average) 57,038,244 55,561,647
 -0- 4/22/93
 /CONTACT: U. Earl Dunn, 206-462-3808, or William Seil, 206-462-3206, both of Puget Power/
 (PSD)


CO: Puget Sound Power & Light Co. ST: Washington IN: UTI SU: ERN

LM-TM -- SE005 -- 9438 04/22/93 12:21 EDT
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Publication:PR Newswire
Date:Apr 22, 1993
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