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WISCONSIN ENERGY CORP. SALES, EARNINGS SHOW STRONG GAIN

 MILWAUKEE, Oct. 27 /PRNewswire/ -- Wisconsin Energy Corp. (NYSE: WEC) reported that earnings per share of common stock increased to 46 cents in the third quarter of 1993 compared to 37 cents in the same period last year. Consolidated net income was $47,713,000 during the third quarter compared to $37,661,000 a year ago.
 Richard A. Abdoo, WEC chairman and chief executive officer, said that earnings during the third quarter of 1993 compared to the same period in 1992 were higher primarily due to a 5.7 percent increase in electric kilowatt-hour sales of Wisconsin Electric Power Co., WEC's principal subsidiary.
 Electric kilowatt-hour sales were up mainly because of significantly warmer weather during the third quarter compared to the previous year. The warmer temperatures in July and August this year contrasted sharply with those months in 1992, which contributed to one of the coolest summers on record.
 Also affecting third quarter earnings were a 2.3 percent electric rate increase effective in February 1993 and a 1.4 percent gas rate increase in October 1992.
 Net income for the 12 months ended Sept. 30, 1993, was $181,793,000 compared to $170,259,000 the previous year. Earnings for the 12-month period were $1.75 a share in 1993 compared to $1.68 in 1992.
 DIGEST OF EARNINGS REPORT
 3 mo. ended 9/30/93 3 mo. ended 9/30/92
 Operating Revenues $ 393,220,000 $ 358,321,000
 Net Income $ 47,713,000 $ 37,661,000
 Average Shares Outstanding 104,537,000 101,973,000
 Earnings Per Share $ 0.46 $ 0.37
 12 mo. ended 9/30/93 12 mo. ended 9/30/92
 Operating Revenues $1,625,898,000 $1,539,639,000
 Net Income $ 181,793,000 $ 170,259,000
 Average Shares Outstanding 103,662,000 101,307,000
 Earnings Per Share $ 1.75 $ 1.68
 -0- 10/27/93
 /CONTACT: Charles Ziegler of Wisconsin Energy Corp., 414-221-4444 or 414-221-2896/
 (WEC)


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

KL -- CL024 -- 7562 10/27/93 17:40 EDT
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Publication:PR Newswire
Date:Oct 27, 1993
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