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UNITED THERMAL CORPORATION REPORTS THIRD-QUARTER RESULTS

 NEW YORK, Nov. 12 /PRNewswire/ -- United Thermal Corporation (NASDAQ: UNTH) today reported a net loss of $4,004,000, or $.28 per share, for the third quarter ended September 30, 1993, compared with a net loss of $4,165,000, or $.29 per share, for the third quarter of 1992. The third quarter is normally a loss period due to warm weather.
 Third-quarter revenues at United Thermal were $10,894,000 in 1993 compared with $10,619,000 in 1992.
 For the nine months ended September 30, 1993, United Thermal recorded net income of $3,059,000, or $.21 per share, on revenues of $77,637,000. During the comparable 1992 period, the Company had net income of $1,567,000, or $.11 per share on revenues of $72,842,000.
 United Thermal Corporation, the nation's second-largest supplier of district steam energy, owns and operates the district steam systems in Philadelphia, Boston, Baltimore and St. Louis. The steam is produced in central plants and distributed through underground pipeline systems to customer buildings. The Company also develops, acquires, owns and operates electric and steam generating plants through its subsidiary, United Thermal Development Corporation.
 UNITED THERMAL CORPORATION
 Condensed Consolidated Statements Of Operations
 (In thousands, except per share amounts)
 Third Quarter Nine Months
 Ended September 30, Ended September 30,
 1993 1992 1993 1992
 Steam sales $10,894 $10,619 $77,637 $72,842
 Operating income (loss) (5,415) (5,887) 9,972 6,679
 Income (loss) before
 taxes (6,566) (7,058) 5,875 2,818
 Net income (loss) (4,004) (4,165) 3,059 1,567
 Net income (loss)
 per share $ (.28) $ (.29) $ .21 $ .11
 Weighted average
 number of shares
 outstanding 14,400 14,400 14,400 14,400
 -0- 11/12/93 R
 /CONTACT: Richard E. Kessel of United Thermal Corporation, 212-750-3400/
 (UNTH)


CO: United Thermal Corporation ST: New York IN: OIL SU: ERN

OP -- NY044R -- 3820 11/12/93 15:51 EST
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Publication:PR Newswire
Date:Nov 12, 1993
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