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WISCONSIN ENERGY EARNINGS DECREASE IN SECOND QUARTER

 MILWAUKEE, July 28 /PRNewswire/ -- Earnings per share of Wisconsin Energy Corp. (NYSE: WEC) common stock were 28 cents a share in the second quarter of 1993 compared to 30 cents a share for the same period last year. Consolidated net income decreased to $28,595,000 in the second quarter of 1993 compared to $30,471,000 a year ago.
 Richard A. Abdoo, WEC chairman and chief executive officer, said that although operating revenues were up in the second quarter of 1993 compared to the same period in 1992, they were offset by increased expenses, including post-retirement benefits, greater cost of medical benefits and higher interest charges related to the company's construction program.
 He also noted that increased expenditures for conservation have resulted in a continued growth in energy efficient improvements by customers.
 Revenues rose during the second quarter of 1993 compared to the same period in 1992 because of a small increase in electric rates and a 2.6 percent rise in electric kilowatt-hour sales of Wisconsin Electric Power Co., WEC's principal subsidiary. Higher revenues also reflect a 2.5 percent increase in deliveries of natural gas by Wisconsin Natural Gas Co., WEC's gas utility subsidiary, recovery of increased purchased gas costs and a small gas rate increase.
 Net income for the 12 months ended June 30, 1993, was $171,741,000 compared with $182,625,000 the previous year. Earnings for the 12-month period were $1.67 a share in 1993 compared with $1.81 in 1992.
 Earnings for the 12 months declined primarily due to cooler weather during the summer of 1992 which significantly reduced the use of electricity for air conditioning and other cooling purposes.
 WISCONSIN ENERGY CORP.
 DIGEST OF EARNINGS
 3 mo. ended 6/30/93 3 mo. ended 6/30/92
 Operating Revenues $ 375,478,000 $ 357,445,000
 Net Income $ 28,595,000 $ 30,471,000
 Average Shares Outstanding 103,961,000 101,178,000
 Earnings Per Share $0.28 $0.30
 12 mo. ended 6/30/93 12 mo. ended 6/30/92
 Operating Revenues $1,590,999,000 $1,545,522,000
 Net Income $ 171,741,000 $ 182,625,000
 Average Shares Outstanding 103,016,000 101,072,000
 Earnings Per Share $1.67 $1.81
 -0- 7/28/93
 /CONTACT: Charles Ziegler of Wisconsin Energy Corp., 414-221-4444 or 414-221-2896/
 (WEC)


CO: Wisconsin Energy Corporation ST: Wisconsin IN: UTI SU: ERN

AR -- CL014 -- 6932 07/28/93 16:47 EDT
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Publication:PR Newswire
Date:Jul 28, 1993
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