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WISCONSIN ENERGY CORP. EARNINGS UP IN FIRST QUARTER OF 1993

 MILWAUKEE, April 28 /PRNewswire/ -- Consolidated net income of Wisconsin Energy Corp. (NYSE: WEC) was $57,917,000 in the first quarter of 1993 compared with $53,951,000 in the same period a year ago, the company reported today. First quarter earnings in 1993 were 56 cents a share compared with 53 cents a share in 1992.
 Richard A. Abdoo, WEC chairman and chief executive officer, said that higher earnings in the first quarter of 1993 compared to the same period in 1992 reflect a 2 percent increase in electric kilowatt- hour sales of Wisconsin Electric Power Co., WEC's principal subsidiary, and higher deliveries of natural gas by WEC's gas utility subsidiary, Wisconsin Natural Gas Co.
 Abdoo noted that gas deliveries increased almost 10 percent during the first three months of 1993 compared to the first quarter of 1992. He said temperatures were approximately 11 percent colder than during the same period in 1992, although still 5 percent warmer than normal.
 Net income for the 12 months ended March 31, 1993 was $173,617,000 compared with $188,988,000 the previous year. Earnings for the 12- month period were $1.70 a share in 1993 compared with $1.87 a share in 1992.
 Earnings for the 12 months declined primarily due to lower electric kilowatt-hour sales. Cooler weather during the summer of 1992 significantly reduced the use of electricity for air conditioning and other cooling purposes.
 Despite the decrease in electric sales, revenues for the 12 months increased slightly. In addition to the factors affecting the first quarter of 1993, revenues were also affected by small electric and gas rate increases effective during 1992.
 DIGEST OF EARNINGS REPORT
 3 mo. ended 3/31/93 3 mo. ended 3/31/92
 Operating Revenues $ 443,262,000 $ 422,103,000
 Net Income $ 57,917,000 $ 53,951,000
 Average Shares Outstanding 103,374,000 101,037,000(A)
 Earnings Per Share $0.56 $0.53(A)
 12 mo. ended 3/31/93 12 mo. ended 3/31/92
 Operating Revenues $1,572,966,000 $1,543,319,000
 Net Income $ 173,617,000 $ 188,988,000
 Average Shares Outstanding 102,322,000 101,037,000(A)
 Earnings Per Share $1.70 $1.87 (A)
 (A) Restated to reflect June 1992 3-for-2 common stock split.
 -0- 4/28/93
 /CONTACT: Charles Ziegler, Wisconsin Energy Corp., 414-221-4444, or 414-221-2896/
 (WEC)


CO: Wisconsin Energy Corp. ST: Wisconsin IN: UTI SU: ERN

LC -- CL030 -- 2286 04/28/93 16:58 EDT
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Publication:PR Newswire
Date:Apr 28, 1993
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