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SOUTHERN INDIANA GAS AND ELECTRIC COMPANY REPORTS FOURTH QUARTER RESULTS

 EVANSVILLE, Ind., Jan. 29 /PRNewswire/ -- Southern Indiana Gas and Electric Company (NYSE: SIG) reported earnings per share of 21 cents for the quarter ended Dec. 31, 1992, equaling the 21 cents earned in 1991. Reduced requirements by several of the company's nonsystem customers led to a decrease of 7.5 percent in overall electric sales when compared to the same quarter last year. System electric sales were up 2 percent for the same period reflecting increased sales to industrial customers. The decline in total electric sales was somewhat mitigated by a decrease in maintenance expenditures.
 Earnings per share of $2.26 for the 12 months ended Dec. 31, 1992 represent a 4.6 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 revenues were reduced maintenance expenditures and an increased customer base.
 Southern Indiana Gas and Electric Company
 Three Months Ended
 December 31,
 1992 1991
 (in thousands except per share data)
 Total Operating Revenues $75,556 $76,669
 Net Income
 (before preferred dividends) $3,573 $3,688
 Earnings per share $0.21 $0.21
 Twelve Months Ended
 December 31,
 1992 1991
 (in thousands except per share data)
 Total Operating Revenues $305,947 $322,582
 Net Income
 (before preferred dividends) $36,767 $38,513
 Earnings per share $2.26 $2.37
 Note: 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- 1/29/93
 /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 and Electric Company ST: Indiana IN: UTI SU: ERN

KK -- CL003 -- 0648 01/29/93 09:55 EST
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Publication:PR Newswire
Date:Jan 29, 1993
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