|
Dollars in Thousands, except
common share data. |
Summary of Operations |
2005 |
2004 |
2003 |
Operating Revenue |
|
|
|
|
Residential |
$222,634 |
$221,323 |
$194,903 |
|
Business |
56,962 |
55,803 |
49,666 |
|
Industrial |
14,241 |
13,592 |
11,255 |
|
Public
authorities |
14,965 |
15,118 |
12,789 |
|
Other |
11,926 |
9,731 |
8,515 |
Total operating revenue |
320,728 |
315,567 |
277,128 |
Operating expenses |
280,918 |
274,084 |
246,894 |
Interest expense, other
income and expenses, net |
12,587 |
15,457 |
10,817 |
|
Net Income |
$27,223 |
$26,026 |
$19,417 |
Common Share Data |
|
|
|
Earnings per share - diluted |
$1.47 |
$1.46 |
1.21 |
Dividend declared |
1.140 |
1.130 |
1.125 |
Dividend payout ratio |
78% |
77% |
93% |
Book Value |
$15.98 |
$15.66 |
$14.44 |
Market Price at year-end |
38.23 |
37.65 |
27.40 |
Common shares outstanding at year-end (in thousands) |
18,390 |
18,367 |
16,932 |
Return on average common stockholders' equity |
9.3% |
9.8% |
9.1% |
Long-term debt interest coverage |
3.61 |
3.38 |
2.78 |
Balance Sheet Data |
|
|
|
Net Utility plant |
$862,731 |
$800,305 |
$759,498 |
Utility plant expenditures
(Company-funded and developer-funded) |
94,517 |
68,573 |
74,253 |
Total assests |
996,945 |
942,853 |
873,035 |
Long-term debt including current portion |
275,275 |
275,921 |
273,130 |
Capitalization ratios: |
|
|
|
|
Common
stockholders' equity |
51.4% |
50.8% |
47.0% |
|
Preferred
stock |
0.6% |
0.6% |
0.7% |
|
Long-term
debt |
48.0% |
48.6 |
52.3% |
Other Data |
|
|
|
Water production (million gallons) |
|
|
|
|
Wells and
surface supply |
68,162 |
72,279 |
68,416 |
|
Purchased |
64,028 |
66,760 |
63,268 |
Total water production |
132,190 |
139,039 |
131,680 |
Metered customers |
402,191 |
395,286 |
387,579 |
Flat-rate customers |
76,810 |
77,869 |
78,843 |
Customers at year-end |
479,001 |
473,155 |
466,422 |
New customers added |
5,846 |
6,733 |
7,434 |
Revenue per customer |
$670 |
$667 |
$594 |
Utility plant per customer |
2,578 |
2,418 |
2,313 |
Employees at year-end |
840 |
837 |
813 |
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