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PUGET POWER REPORTS 1993 SECOND QUARTER RESULTS

 BELLEVUE, Wash., July 21 /PRNewswire/ -- Puget Sound Power & Light Co. (NYSE: PSD) today reported lower earnings for the three months ending June 30, 1993, compared to the same quarter one year ago.
 The company reported earnings of 37 cents per share of common stock for the three months ending June 30, 1993, compared with 47 cents for the corresponding period in 1992. Operating revenues for the second quarter were $237.6 million compared with $240.6 million a year ago. Net income available for common stock was $21.9 million, compared with $26.2 million for the same quarter in 1992.
 The company had previously reported it expected to incur downward pressure on earnings during the second and third quarters of 1993. The company has requested that its state regulatory commission grant general rate relief to cover increased costs. An order is expected on or before Oct. 1, 1993.
 For the 12-month period ending June 30, 1993, the company reported earnings of $2.10 per share, compared with $2.14 a year ago. Operating revenues were $1.07 billion and $985 million respectively, while income available for common stock was $121.8 million and $118.8 million respectively.
 PUGET SOUND POWER & LIGHT CO.
 SUMMARY OF FINANCIAL RESULTS
 For three months ending June 30, 1993 1992
 Operating revenues (000) $ 237,617 $ 240,643
 Net income (000) $ 26,213 $ 29,538
 Income for common stock (000) $ 21,927 $ 26,220
 Earnings per share $0.37 $0.47
 Average common shares outstanding
 (weighted average) 59,138,460 55,561,647
 For 12 months ending June 30, 1993 1992
 Operating revenues (000) $1,065,716 $ 984,684
 Net income (000) $ 139,045 $ 129,001
 Income for common stock (000) $ 121,813 $ 118,810
 Earnings per share $2.10 $2.14
 Average common shares outstanding
 (weighted average) 57,878,011 55,561,647
 -0- 7/21/93
 /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

SB-SX -- SE002 -- 3765 07/21/93 08:50 EDT
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Publication:PR Newswire
Date:Jul 21, 1993
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