UTILICORP &lt;UCU> SEES HIGHER 1987 FIRST QUARTER
  Utilicorp United Corp
  said it expects to report 1987 first quarter earnings of about
  12 mln dlrs or about 1.12 dlrs a share and revenues of about
  190 mln dlrs.
      In the comparable quarter a year ago, Utilicorp earned 8.5
  mln dlrs or 87 cts on revenues of 203 mln dlrs.
      There are 9.6 mln shares outstanding this year, up from the
  8.5 mln shares in 1986, Utilicorp's president Richard Green
  told financial analysts here.
      First quarter 1987 results include one month contribution
  of West Virginia Power, which became a division on March 1,
  1987, Green said in remarks prepared for delivery to analysts.
      Higher earnings for the period reflected reduced operating
  and maintenenace expenses and about 10 mln dlrs in rate
  increases in Iowa, Minnesota, Kansas and Colorado, he said.
      However, Utilicorp's Missouri Public Service division is
  experiencing the effect of a 5.9 pct rate reduction authorized
  in September 1986, he noted.
      Of Utilicorp's total revenues expected for the 1987 first
  quarter, about 43 mln dlrs will be derived from electric
  operations and about 147 mln dlrs will come from gas
  operations, he said.
      Operating income derived from electric operations in the
  first three months of 1987 is estimated to be eight mln dlrs,
  while the contribution from gas operations will be about 10 mln
  dlrs, Green said.
      Green told analysts that Utilicorp received regulatory
  approval from various states and the Federal Energy Regulatory
  Commission to reincorporate in Delaware, effective April one.
      Utilicorp signed an agreement with Cominco Ltd of Vancouver
  to extend the deadline to May 31, 1987, for completion of the
  company's purchase of West Kootenay Power and Light of British
  Columbia, due to a longer than expected regulatory approval
  process, he said.
      Hearings were completed in February and a decision by the
  British Columbia Utilities Commission on the 60 mln dlrs
  purchase by Utilicorp is pending, he said.
  

