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EARNINGS

January 27, 1988

San Diego Gas & Electric's net income fell to $49.9 million in the fourth quarter ended Dec. 31 from the year-ago period, while revenue climbed 29.7% to $530 million. For the year, earnings fell to $196 million from $213 million; revenue rose 16.5% to $1.9 billion. The company attributed the income declines to a regulatory decision ordering utility shareholders, rather than ratepayers, to pay some costs associated with the construction of the San Onofre Nuclear Generating Station.

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