Last $21.78 USD
Change Today -0.06 / -0.27%
Volume 3.8K
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As of 1:19 PM 07/30/14 All times are local (Market data is delayed by at least 15 minutes).

artesian resources corp-cl a (ARTNA) Key Developments

Artesian Resources Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014

Artesian Resources Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. Revenues for the first quarter of 2014 were $16.9 million, a 3.5% increase from the $16.3 million in revenues recorded for the same three-month period of 2013. Water sales revenue increased $0.5 million, or 3.5%, to $15.1 million for the first quarter of 2014, compared to $14.6 million for the same period in 2013. The increase was primarily from greater water consumption and revenue received from a Distribution System Improvement Charge (DSIC), which went into effect on January 1, 2014 at a rate of 3.32%. Net income for the first quarter of 2014 was $2.1 million, a $0.5 million increase compared to $1.6 million in net income recorded during the first quarter of 2013. Diluted net income per share increased to $0.23 compared to basic and diluted share of $0.19 for the first quarter of 2013. Operating income was $3,146,000 against $2,738,000 for the same period in the last year. Income before interest charges was $3,819,000 against $3,387,000 for the same period in the last year.

Artesian Resources Corporation Approves Quarterly Common Stock Dividend, Payable on May 23, 2014

Artesian Resources Corporation announced that its board of directors has approved a 1.5% increase in the company's Class A and Class B Common Stock dividend, raising the annual dividend to $0.8476 per share. The quarterly dividend of $0.2119 is payable on May 23, 2014 to shareholders of record at the close of business on May 12, 2014.

Artesian Resources Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013

Artesian Resources Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported operating revenues of $16,893,000 against $16,952,000 for the same period in the last year. Lower water sales revenue as a result of a wet spring and summer drove the decline in revenues. Operating Income was $3,277,000 against $3,479,000 for the same period in the last year. Income before interest charges was $3,311,000 against $3,514,000 for the same period in the last year. Net income was $1,547,000 or $0.17 per diluted share against $1,748,000 or $0.20 per diluted share for the same period in the last year. Increased legal costs of $0.5 million associated with the litigation against the Chester Water Authority also contributed to the decline in net income and earnings per share. For the year, the company reported operating revenues of $69,073,000 against $70,563,000 for the same period in the last year. Operating Income was $14,484,000 against $15,855,000 for the same period in the last year. Income before interest charges was $15,356,000 against $16,891,000 for the same period in the last year. Net income was $8,301,000 or $0.94 per diluted share against $9,846,000 or $1.13 per diluted share for the same period in the last year.

Artesian Resources Corporation Declares Common Stock Dividend, Payable on February 21, 2014

Artesian Resources Corporation announced that its board of directors has declared a regular quarterly dividend on the company's Class A and Class B Common Stock. The quarterly dividend of $0.2088 is payable on February 21, 2014 to shareholders of record at the close of business on February 10, 2014.

Artesian Resources Corp. Presents at The New York Society of Security Analysts' Water Utilities Industry Conference, Dec-04-2013 11:30 AM

Artesian Resources Corp. Presents at The New York Society of Security Analysts' Water Utilities Industry Conference, Dec-04-2013 11:30 AM. Venue: NYSSA Conference Center, 1540 Broadway, Suite 1010, (45th Street Entrance), New York, NY 10036, United States. Speakers: David B. Spacht, Chief Financial Officer, Vice President, Treasurer, Chief Financial Officer of Artesian Water Company Inc, Vice President of Artesian Water Company Inc and Treasurer of Artesian Water Company Inc.

 

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Price/Earnings 22.1x
Price/Sales 2.8x
Price/Book 1.6x
Price/Cash Flow 10.2x
TEV/Sales 0.8x
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