Utility company Southwest Water Co. said Wednesday third-quarter profit rose due to a growing consumer base, acquisitions and increases in contracts and project work.
The company earned $3 million, or 15 cents per share, up 27 percent from $2.4 million, or 12 cents per share, during the same period a year ago.
Revenue totaled $54.7 million, up 4 percent from $52.7 million.
Southwest's utility segment saw a 4 percent revenue increase, to $23.3 million. The company said the July acquisition of Monarch Utilities Inc. added $800,000 to the quarter's revenue, though the gain was partially offset by a $200,000 revenue decrease in its California utility due to unusually cool weather in August.
November 10, 2005 4:14 AM | Category: Water