Aqua America, Inc. (WTR) reported that its first quarter net income attributable to common shareholders rose to $46.57 million or $0.33 per share from $37.90 million or $0.27 per share last year. Net income was enhanced by the sales of 65 percent of the company's Florida operations in the quarter, the company stated.
Income from continuing operations totaled $41.23 million or $0.29 per share, up from $26.89 million or $0.19 per share last year.
On average, eight analysts polled by Thomson Reuters expected the company to earn $0.27 per share for the quarter. Analysts' estimates typically exclude special items.
Operating revenues totaled $180.04 million, up from $164.02 million last year. Analysts expected revenues of $179.35 million.
Separately, Aqua America declared quarterly cash dividend payment of $0.175 per share payable on June 1, to all shareholders of record on May 17, 2013. The June dividend payment of $0.175 per share is 6.1 percent higher than the dividend the company paid in June 2012 of $0.165 per share.
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