York Water Q1 Profit Edges Down - Quick Facts

(RTTNews) - York Water Co. (YORW) Wednesday reported first-quarter net income of $2.11 million, slightly down from $2.14 million in the prior year.

Basic earnings per share were $0.16, compared to $0.17 per share reported last year.

Three analysts polled by Thomson Reuters expected the company to earn $0.18 per share for the quarter. Analysts' estimates typically exclude special items.

Operating revenues increased to $10.57 million from $10.07 million a year earlier. Analysts estimated revenues of $10.70 million for the quarter.

According to the company, the rise in revenue was due to an increase in rates effective February 28, 2014, higher per capita consumption and growth in both water and wastewater customer bases.

The increased revenues were offset by higher expenses primarily for wages, depreciation, cold-weather-related distribution system maintenance, pensions and technology upgrades, the firm said.

York Water declared quarterly dividend per share of $0.1431, up from $0.1383 last year.