Printer Friendly

SOUTHERN INDIANA GAS & ELECTRIC COMPANY THIRD QUARTER RESULTS

 SOUTHERN INDIANA GAS & ELECTRIC COMPANY THIRD QUARTER RESULTS
 EVANSVILLE, Ind., Nov. 4 /PRNewswire/ -- Southern Indiana Gas and Electric Company (NYSE: SIG) reported earnings per share of 71 cents for the quarter ended Sept. 30, 1992, compared to 82 cents in 1991. The primary reason for the decline in earnings was lower system electric sales, down 8 percent. The decline in system electric sales is attributable to a decrease in cooling degree days, down 19 percent from the same quarter of last year. A decrease in nonsystem electric sales due to reduced requirements of several of the company's nonsystem customers also contributed to the lower earnings.
 For the first nine months of 1992, earnings per share were down 11 cents from the same period in 1991. Lower system and nonsystem electric sales more than offset a decline in maintenance expenditures.
 Earnings per share of $2.27 for the twelve months ended Sept. 30, 1992 represents a 4.2 percent decrease compared to the prior year period earnings of $2.37. Fewer system and nonsystem electric sales and lower margins on gas sales were the primary reasons for the decrease in earnings. Partially offsetting the decline in earnings were reduced maintenance expenditures and an increased customer base.
 SOUTHERN INDIANA GAS AND ELECTRIC COMPANY
 (in thousands except per share data)
 Three Months Ended
 September 30,
 1992 1991
 Total Operating Revenues $ 74,815 $ 80,040
 Net Income (before preferred
 dividends) $ 11,458 $ 13,192
 Earnings Per Share $0.71 $0.82
 Nine Months Ended
 September 30,
 1992 1991
 Total Operating Revenues $230,291 $245,883
 Net Income (before preferred
 dividends) $ 33,194 $ 34,825
 Earnings Per Share $2.05 $2.16
 Twelve Months Ended
 September 30,
 1992 1991
 Total Operating Revenues $307,090 $316,745
 Net Income (before preferred
 dividends) $ 36,882 $ 38,440
 Earnings Per Share $2.27 $2.37
 NOTES:
 1) Because of seasonal and other factors, the earnings for the three months, nine months and twelve months ended Sept. 30, 1992 should not be taken as an indication for all or any part of the balance of 1992.
 2) Earnings per share for the periods ending in 1991 have been restated to reflect the stock split on a four-for-three basis effective March 30, 1992.
 -0- 11/4/92
 /CONTACT: A.E. Goebel, senior vice-president, chief financial officer, secretary and treasurer of Southern Indiana Gas and Electric Company, 812-464-4553/
 (SIG) CO: Southern Indiana Gas & Electric Company ST: Indiana IN: UTI SU: ERN


BM -- CL011 -- 2486 11/04/92 12:38 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 4, 1992
Words:419
Previous Article:LADBROKE TO OFFER SIMULCASTING, WAGERING FOR NORTHFIELD PARK RACES
Next Article:REBA MCENTIRE PLAYS HOST TO FRIENDS ON TNN'S 'NASHVILLE NOW'; BROOKS AND DUNN ARE AMONG GUESTS SLATED TO PERFORM
Topics:


Related Articles
SOUTHERN INDIANA GAS AND ELECTRIC COMPANY THIRD QUARTER RESULTS
SOUTHERN INDIANA GAS AND ELECTRIC COMPANY REPORTS RESULTS
SOUTHERN INDIANA GAS AND ELECTRIC REPORTS FIRST QUARTER RESULTS
SOUTHERN INDIANA GAS AND ELECTRIC COMPANY SECOND QUARTER RESULTS
SOUTHERN INDIANA GAS AND ELECTRIC COMPANY RELEASES SECOND QUARTER RESULTS
SIGECO ANNOUNCES RECORD EARNINGS
SOUTHERN INDIANA GAS AND ELECTRIC COMPANY ANNOUNCES FIRST QUARTER RESULTS
SOUTHERN INDIANA GAS AND ELECTRIC COMPANY REPORTS THIRD QUARTER RESULTS
SOUTHERN INDIANA GAS AND ELECTRIC COMPANY Consolidated Statements of Income For the Periods Ended June 30, 1995 and 1994 (Unaudited) (in thousands...
SOUTHERN INDIANA GAS AND ELECTRIC COMPANY CONSOLIDATED STATEMENTS OF INCOME FOR THE PERIODS ENDED SEPTEMBER 30, 1995 AND 1994 (UNAUDITED)

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters