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RG&E SECOND QUARTER FINANCIAL NEWS RELEASE

 ROCHESTER, N.Y., July 23 /PRNewswire/ -- Rochester Gas & Electric Corp. (RG&E) (NYSE: RGS) today reported earnings for the three-, six- and 12-month periods ending June 30, 1993, which reflect a return to more normal operations.
 Earnings-per-share in the second quarter were 15 cents in 1993, compared to a loss of 20 cents in the second quarter of 1992. The reduced earnings in 1992 reflected a write-off for disallowed costs from the 1991 ice storm. Aside from this disallowance, earnings increased by 18 cents per share in the second quarter of 1993.
 Revenues in the 1993 second quarter, including sales to other utilities, were $203,252,000, up $8,098,000 from the second quarter of 1992.
 Earnings-per-share for the 12-month period ended June 30, 1993, were $2.17 compared to $1.49 a year earlier, also reflecting a return to more normal operations.
 In 1992, earnings were affected by settlement of lawsuits relating to construction of the Nine Mile Two nuclear plant, as well as by the ice storm write-off and fuel procurement audit disallowance. Excluding these non-recurring items, earnings for the current 12 months increased by 22 cents per share.
 Revenues for the 1993 12-month period were $918,158,000, an increase of $40,297,000.
 Electric sales to customers decreased by 6/10ths of one percent this past quarter due to the net effect of modest growth in the number of customers and customer energy conservation. The company is promoting conservation as an alternative to investing in new generating facilities. The total therms of gas sold and transported decreased 7.7 percent for the quarter, mainly due to overall warmer weather.
 ROCHESTER GAS AND ELECTRIC CORPORATION
 EARNINGS REPORT
 FOR THE PERIODS ENDED JUNE 30,
 3 MONTHS 1993 1992
 OPERATING REVENUES $203,252,000 $195,154,000
 NET INCOME 6,909,000 (4,579,000)
 EARNINGS APPLICABLE TO COMMON STOCK 5,084,000 (6,651,000)
 AVERAGE SHARES OUTSTANDING 35,055,000 32,399,000
 EARNINGS PER SHARE $ .15 $ (.20)
 6 MONTHS 1993 1992
 OPERATING REVENUES $475,527,000 $452,901,000
 NET INCOME 35,993,000 23,786,000
 EARNINGS APPLICABLE TO COMMON STOCK 32,343,000 19,641,000
 AVERAGE SHARES OUTSTANDING 34,983,000 32,314,000
 EARNINGS PER SHARE $ .92 $ .61
 12 MONTHS 1993 1992
 OPERATING REVENUES $918,158,000 $877,861,000
 NET INCOME 82,646,000 55,959,000
 EARNINGS APPLICABLE TO COMMON STOCK 74,851,000 47,864,000
 AVERAGE SHARES OUTSTANDING 34,515,000 32,141,000
 EARNINGS PER SHARE $ 2.17 $ 1.49
 -0- 7/23/93
 /CONTACT: Mike Power of Rochester Gas & Electric, 716-724-8828/
 (RGS)


CO: Rochester Gas & Electric Corporation ST: New York IN: UTI SU: ERN

KL -- CL001 -- 5027 07/23/93 09:16 EDT
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Publication:PR Newswire
Date:Jul 23, 1993
Words:458
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