SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 28, 1997
IES UTILITIES INC.
(Exact name of registrant as specified in its charter)
Iowa 0-4117-1 42-0331370
(State or other (Commission (I.R.S. Employer
jurisdiction of File No.) Identification No.)
incorporation)
IES Tower, Cedar Rapids, Iowa 52401
(Address of principal executive offices, including zip code)
(319) 398-4411
(Registrant's telephone number)
Item 5. Other Events.
The following are selected summaries of the consolidated
results of operations for IES Utilities Inc. for the periods
ended March 31, 1997 and 1996:
Quarter Ended Twelve Months Ended
March 31 March 31
1997 1996 1997 1996
(in thousands)
Operating revenues $ 226,398 $ 198,768 $ 782,609 $ 735,755
Operating income $ 32,588 $ 34,204 $ 152,110 $ 156,573
Net income available
for common stock $ 11,622 $ 13,899 $ 60,538 $ 66,333
Milder weather conditions in the first quarter of 1997, as
compared to 1996, contributed to lower earnings at IES Utilities
Inc. (IES). Weather conditions in the first quarter of 1997 were
milder than normal and weather conditions in the first quarter of
1996 were colder than normal. Accordingly, in comparing quarters,
weather impacted net income available for common stock by an
estimated $1.8 million.
Increased revenues for the quarter reflected the impact of
higher prices for fuel purchased by IES, which are passed through
directly to customers with no impact on company income.
During the first quarter of 1997, IES reported an 8 percent
decrease in the volume of natural gas sold and transported for
customers, as compared with the volume of the first quarter of
1996. This decrease primarily reflects the effect of weather on
residential gas sales. When compared to "normal" weather, natural
gas sales were down 3 percent from sales of the previous year.
Despite the negative impact of weather on residential and
commercial sales, total utility electric sales volumes, excluding
off-system sales, increased 4 percent for the quarter. Much of
that increase was the result of a 10 percent increase to
industrial customers, reflecting continued growth in the IES
service territory.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
IES UTILITIES INC.
(Registrant)
By /s/ John E. Ebright
(Signature)
John E. Ebright
Controller & Chief Accounting Officer
Date: April 28, 1997
