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Connecticut Water Service Inc. Message Board

  • adspatz adspatz Nov 11, 2013 11:02 AM Flag

    Connecticut Water Service revenue and earnings rise

    Search for "SEC Live Filings Digest" to find out more.
    Connecticut Water Service Inc. (CTWS) announced its third quarter financial results for the fiscal year 2013, reporting increases in revenue and earnings. The company, which operates 77 noncontiguous water systems in Connecticut and Maine, reported $9.1M profit of $28.0M in revenue in its Water Activities segment. For the first nine months of the year, Water Activities income was $15.2M on $71.0M in revenue. This is a substantial increase from the year-ago period with $10.1M in income and $65.5M revenue. For shareholders, earnings increased from $1.28 per share the first nine months last year to $1.51 per share this year. Some developments from a regulatory standpoint developed that ultimately will result in a two-year rate reduction as the company returns $12.4M of a total $13.6M refund to its customers. This rate reduction is the result of certain tax benefits becoming immediately available to the company rather than over several years.

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