ALLENTOWN, Pa.---PP&L Resources Inc. Wednesday (7/26) reported earnings of $1.34 per share of common stock for the 12-month period ended June 30, 1995, down about 32 percent from the $1.98 per share reported by the company in the comparable period the year before.

A substantial portion of the reduction is due to nonrecurring charges, including a $43 million after-tax charge against net income for a voluntary early retirement program and a $40 million after-tax charge against net income related to a re-evaluation of the book value of coal reserves held by a PP&L subsidiary. These two nonrecurring charges, which reduced earnings by a total of 54 cents per share, were recorded in the fourth quarter of 1994.

"In addition, earnings were adversely affected by mild weather, while earnings during the comparable 12-month period in 1994 were favorably affected by weather," said Ronald E. Hill, senior vice president-Financial.

"Excluding the one-time charges and the effects of weather, earnings per share for the 12 months ended June 30, 1995, would have been $1.90, compared to $2.07 for the previous 12-month period," Hill said.

"Recognizing that increasing costs would pressure our earnings, we filed a request last December with the Pennsylvania Public Utility Commission to increase base rates to address many issues, including an amount to improve future earnings," Hill said. A recommendation from the administrative law judge hearing the case on PP&L's $261 million request is expected soon, and a final commission decision is expected at the end of September.

Sales to service-area customers, when adjusted to eliminate the effects of varying weather conditions, increased a total of 3 percent in the most-recent 12-month period.

Hill noted that industrial sales continued their strong upward trend. "That's an encouraging sign of good regional economic health," he said. Industrial sales, which are not affected by weather, rose 4.9 percent in the 12 months just ended, he said.

In the second quarter of 1995, PP&L Resources reported earnings of 28 cents per share, compared to earnings of 31 cents per share, in the second quarter of 1994.

PP&L Resources, based in Allentown, Pa., is the parent company of Pennsylvania Power & Light Co.

PP&L RESOURCES INC. AND SUBSIDIARY COMPANIES CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)
	June 1995 Thousands of Dollars
	3 Months Ended June 30*		12 Months Ended June 30*
	1995	1994	1995	1994
Operating revenues	$609,213	$640,218	$2,652,126	$2,788,849
Net income	44,719	47,057	208,830	300,948
Earnings per share of common stock (based on average number of shares outstanding)	$0.28	$0.31	$1.34	$1.98
Average number of shares outstanding (thousands)	157,161	152,757	155,534	152,210
*Certain amounts in the June 30, 1994, financial statements have been reclassified to conform to the presentation in the June 30, 1995, statements.

SYSTEM SALES COMPARISONS -- ACTUAL
Millions of kwh
	3 Months Ended June 30			12 Months Ended June 30
	1995	1994	Percent Change	1995	1994	Percent Change
Residential	2,381	2,360	0.9	10,911	11,533	(5.4)
Commercial	2,327	2,259	3.0	9,683	9,604	0.8
Industrial	2,499	2,378	5.1	9,760	9,303	4.9
Other	360	379	(5.0)	1,562	1,654	(5.6)
Total	7,567	7,376	2.6	31,916	32,094	(0.6)

SYSTEM SALES COMPARISONS -- WEATHER-ADJUSTED
Millions of kwh
	3 Months Ended June 30			12 Months Ended June 30
	1995	1994	Percent Change	1995	1994	Percent Change
Residential	2,425	2,385	1.7	11,268	11,072	1.8
Commercial	2,337	2,256	3.6	9,751	9,428	3.4
Industrial	2,499	2,378	5.1	9,760	9,303	4.9
Other	361	379	(4.7)	1,588	1,613	(1.5)
Total	7,622	7,398	3.0	32,367	31,416	3.0