American States Water Co. (AWR: Quote) Monday said its profit for the first quarter increased, due mainly to higher revenues.
The San Dimas, California-based company reported a first-quarter net profit of $10.12 million or $0.53 per share, compared to $7.59 million or $0.40 per share last year.
For the quarter income from continuing operations rose to $10.12 million or $0.53 per share from $6.96 million or $0.37 per share in the similar quarter last year. On average, six analysts polled by Thomson Reuters expected the company to earn $0.39 per share for the quarter. Analysts' estimates typically exclude special items.
Total operating revenues for the quarter grew to $106.65 million from $94.31 million in the prior-year quarter. Five analysts had a consensus revenue estimate of $98.77 million for the quarter.
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by RTT Staff Writer
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