York Water Co. (YORW) reported that its fourth-quarter net income was $2.4 million or $0.18 per basic share, compared to $2.1 million or $0.16 per basic share in the comparable quarter last year. On average, five analysts polled by Thomson Reuters expected the company to report earnings of $0.18 per share for the quarter. Analysts' estimates typically exclude special items.
Operating revenues for the quarter rose to $10.40 million from $10.08 million in the prior year quarter, while five analysts had consensus revenue estimate of $10.50 million for the quarter.
President Jeffrey Hines reported that York Water's Board of Directors has authorized a share repurchase program granting the company authority to repurchase up to 1.2 million shares of the company's common stock from time to time.
Under the stock repurchase program, the company may repurchase shares in the open market or through privately negotiated transactions.
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