Server: Microsoft-IIS/3.0 Date: Thu, 18 Dec 1997 21:59:01 GMT Content-Type: text/html Accept-Ranges: bytes Last-Modified: Mon, 18 Aug 1997 22:00:44 GMT Set-Cookie: EGSOFT_ID=128.2.209.145-643024768.29166592; expires=Fri, 31-Dec-2010 00:00:00 GMT; path=/ Content-Length: 14071 Summary of Five Years of Operation

Summary of Five Years of Operation

  1996 1995 1994 1993 1992
Operating Revenues $20,891,993 $22,631,283 $21,012,292 $20,340,246 $18,216,186

Operating Expenses          
Operation & Maintenance 12,153,977 13,384,812 13,014,014 12,417,723 11,687,289
Deprecation 2,192,692 2,239,909 1,985,783 1,955,249 1,979,623
State & Federal Income Taxes 1,096,075 791,438 963,514 914,097 364,050
Write-down on rental office building - 783,600 - - -
Loss on disposal of Artesian Laboratories - 127,771 - - -
Property and other taxes 1,348,330 1,370,395 1,234,821 1,229,882 1,096,657
16,791,074 18,697,925 17,198,132 16,516,951 15,127,619

Operating income 4,100,919 3,933,358 3,814,160 3,823,295 3,088,567
Other income (expense)-net 93,586 32,565 5,896 (14,332) (89,789)
Total income before interest charges 4,194,505 3,965,923 3,820,056 3,808,963 2,998,778

Interest charges          
Long-term debt 1,600,924 2,249,907 2,252,449 2,286,235 1,820,254
Short-term debt 880,583 462,626 28,396 55,543 371,426
Amortization of debt expense 25,684 26,428 26,493 68,436 26,032
Other 28,659 19,534 26,940 23,835 15,042
  2,535,850 2,758,495 2,334,278 2,434,049 2,232,754

Income before cumulative effect of changes in accounting principles 1,658,655 1,207,428 1,485,778 1,374,914 766,024
Cumulative effect of changes in accounting principles - - - 250,901 -
Net income $1,658,655 $1,207,428 $1,485,778 $1,625,815 $766,024

Per share:          
Income before cumulative effect of changes in accounting principles $1.06 $1.06 $1.34 $1.25 $0.63
Cumulative effect of changes in accounting principles - - - .25 -
Net income $1.06 $1.06 $1.34 $1.50 $0.63

Dividends per share of common stock $0.90 $0.63 $0.60 $0.30 $0.05

Utility plant at year end, cost $112,312,266 $104,434,261 $92,684,238 $84,560,729 $80,637,313
Total assests $99,708,153 $96,841,166 $87,453,236 $81,826,810 $76,482,455
Long-term obligations and redeemable preferred stock $27,355,677 $18,802,500 $26,044,928 $26,116,684 $19,298,068
Total capitalization at year-end $52,843,160 $34,198,399 $40,772,731 $39,917,564 $31,766,778

 

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