Delmarva Power & Light Co.This utility, which provides...

EARNINGS

October 28, 1992

Delmarva Power & Light Co.

This utility, which provides power to the Eastern Shore, reported strong results for the third quarter.

However, earnings for core operations in the first nine months dropped to $1.45 a share from $1.56 a share because of milder weather, which reduced air-conditioning use, and the capital costs for expanded capacity.

The company provided financial information for the 12 months that ended Sept. 30, but not for the nine months.

The current 12-month results include 21 cents a share received from a settlement of a lawsuit with Philadelphia Electric Co.

Last year's 12-month figures include an 86-cent-per-share write-off in the value of a joint venture investment and a gain of 25 cents per share from an accounting change.

Three months ended 9/30/92

. . . ...Revenue. . ... . . .. Net. .. .............. Share

'92.. ...$231,400,000. .........34,056,000.. .........0.59

91. ....235,611,000...........32,032,000............0.58

% change. .......-1.8..................+6.3.............+1.7

Twelve months ended 9/30/92

. .. .... .. Revenue.. .............. Net.......... Share

........838,672,000............92,323,000....1.59

'91...........831,450,000...........49,366,000....0.83 % change............+0.9....................+87.0.....+91.6

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