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Artesian records YOY drop in Q4 net income, operating revenues

Artesian Resources Corp., a small water and wastewater company with operations on the Delmarva Peninsula, on March 13 reported fourth-quarter 2018 net income of $2.9 million, or 32 cents per share, compared with $3.7 million, or 40 cents per share, in the prior-year period.

Operating revenues totaled $19.3 million, down from $20.2 million in the year-ago quarter. Operating income also fell year over year, to $4.5 million from $5.2 million.

For the full year, Artesian Resource posted net income of $14.3 million, or $1.54 per share, in 2018, compared with $14.0 million, or $1.51 per share, in 2017.

Operating revenues dropped to $80.4 million from $82.2 million in the prior year, while operating income also fell, to $19.0 million from $19.6 million.