|
In thousands, except per
share data |
For the years ended December
31, |
2005 |
2004 |
2003 |
Operating revenue |
$320,728 |
$315,567 |
$277,128 |
Operating expenses: |
|
|
|
|
Operations |
|
|
|
|
|
Purchased water |
87,504 |
89,787 |
80,831 |
|
|
Purchased power |
20,541 |
21,801 |
21,921 |
|
|
Pump taxes |
7,620 |
7,555 |
6,272 |
|
|
Administrative and general |
48,655 |
47,078 |
40,969 |
|
|
Other |
40,032 |
39,929 |
37,476 |
|
Maintenance |
15,216 |
13,228 |
12,717 |
|
Depreciation and
amortization |
28,731 |
26,114 |
23,256 |
|
Income taxes |
20,006 |
17,084 |
12,898 |
|
Property and other taxes |
12,613 |
11,508 |
10,554 |
|
|
Total operating expenses |
280,918 |
274,084 |
246,894 |
|
Net operating expenses |
39,810 |
41,483 |
30,234 |
Other income and expenses: |
|
|
|
|
Non-regulated income, net |
2,863 |
2,375 |
2,097 |
|
Gain on the sale of
non-utility property |
2,250 |
8 |
4,603 |
|
|
Total other income and
expenses |
5,113 |
2,383 |
6,700 |
Interest expense: |
|
|
|
|
Interest expense |
18,600 |
18,664 |
19,512 |
|
Less capitalized interest |
900 |
824 |
1,995 |
|
|
Net interest expense |
17,700 |
17,840 |
17,517 |
Net income |
$27,223 |
$26,026 |
$19,417 |
Earnings per share: |
|
|
|
|
Basic |
$1.47 |
$1.46 |
$1.21 |
|
Diluted |
$1.47 |
$1.46 |
$1.21 |
Weighted average number of
common shares outstanding |
|
|
|
Basic |
18,379 |
17,652 |
15,882 |
|
Diluted |
18,402 |
17,674 |
18,893 |
|
|
|
|
|
|
See accompanying Notes to
Consolidated Financial Statements. |
|