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SOUTHEASTERN PUBLIC SERVICE COMPANY REPORTS RESULTS

 SOUTHEASTERN PUBLIC SERVICE COMPANY REPORTS RESULTS
 MIAMI, July 14 /PRNewswire/ -- Southeastern Public Service Company


(PSE) today announced the results for the three months ended May 31, 1992.
 For the three months ended May 31, 1992, the company reported revenues of $56.4 million compared to $58.9 million in the prior year's comparable period. In the first three months of 1992, net earnings (including equity in earnings and losses of affiliates) were $1.7 million ($.15 per share), vs. net earnings on a comparable basis of $87,000 ($.01 per share) in the prior year's first three months.
 Net earnings for the three months ended May 31, 1992 were favorably impacted by the equity in net earnings of affiliates which more than offset a decrease in results from operations.
 SOUTHEASTERN PUBLIC SERVICE COMPANY AND SUBSIDIARIES
 For the three months
 ended May 31,
 1992 1991
 (In thousands except per share amounts)
 Operating revenues $ 56,381 58,875
 Operating profit 2,622 4,069
 Interest expense (net of
 interest income) (2,385) (2,756)
 Other, net (1,301) 154
 Earnings (loss) before income
 taxes and equity in net
 earnings (loss) of affiliates (1,064) 1,467
 (Provision for) benefit from
 income taxes 312 (279)
 (752) 1,188
 Equity in net earnings (loss)
 of affiliates 2,497 (1,101)
 Net earnings $ 1,745 87
 Earnings per share $ .15 .01
 Average shares outstanding 11,655 11,655
 -0- 7/14/92
 /CONTACT: Charles Nolan of Southeastern Public Service Company, 305-866-7771/ CO: Southeastern Public Service Company ST: Florida IN: SU: ERN


JB-AW -- FL003 -- 9017 07/14/92 10:22 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jul 14, 1992
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