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SOUTHERN INDIANA GAS AND ELECTRIC COMPANY THIRD QUARTER RESULTS

    SOUTHERN INDIANA GAS AND ELECTRIC COMPANY THIRD QUARTER RESULTS
    EVANSVILLE, Ind., Nov. 7 /PRNewswire/ -- Southern Indiana Gas and Electric Company (NYSE: SIG) reported earnings per share of $1.09 for the quarter ended Sept. 30, 1991, compared to $1.05 in 1990.  A 6 percent increase in retail electric sales along with a reduction in scheduled maintenance projects at the company's major generating stations more than offset a 12 percent decline in gas throughout primarily to transportation customers.  The increase in retail electric sales is attributable to an increase in cooling degree days, up 16 percent over normal and 13 percent over the same quarter of last year.
    For the first nine months of 1991, earnings per share were up 15 cents from the same period in 1990.  Greater retail electric sales and decreased scheduled maintenance project expenditures more than offset the slight reduction in gas sales due to warmer than normal weather. Contributing also to the increase in earnings per share was fewer shares outstanding during this period.
    Earnings per share of $3.15 for the twelve months ended Sept. 30, 1991 represents a 6.1 percent increase compared to the prior period of $2.97.  The increase is due to greater electric sales, an increased customer base, lower planned maintenance expenditures and repurchases of the company's common stock, all partially offset by fewer gas sales.
               SOUTHERN INDIANA GAS AND ELECTRIC COMPANY
                 (In thousands, except per share data)
                                         Three Months Ended
                                             Sept. 30,
                                     1991                 1990
    TOTAL OPERATING REVENUES       $80,040              $79,679
    NET INCOME (Before preferred
      dividends)                    $13,192              $12,909
    EARNINGS PER SHARE               $1.09                $1.05
                                        Nine Months Ended
                                            Sept. 30
                                     1991                 1990
    TOTAL OPERATING REVENUES      $245,883             $251,657
    NET INCOME (Before preferred
      dividends)                  $ 34,825             $ 34,076
    EARNINGS PER SHARE               $2.87                $2.72
                                        Twelve Months Ended
                                            Sept. 30,
                                     1991                 1990
    TOTAL OPERATING REVENUES      $316,745             $328,606
    NET INCOME (Before preferred
      dividends)                  $ 38,440             $ 37,604
    EARNINGS PER SHARE               $3.15                $2.97
    Note:  Because of seasonal and other factors, the earnings for the three months, nine months and twelve months ended Sept. 30, 1991, should not be taken as an indication for all or any part of the balance of 1991.
    -0-                        11/7/91
    /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 cg -- CL015 -- 2259 11/07/91 13:21 EST
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Publication:PR Newswire
Date:Nov 7, 1991
Words:416
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