York Water reports Q3 EPS 41c vs. 53c last year

Reports Q3 revenue $19.7M vs. $18.8M last year. Increased revenues were primarily due to revenues from Distribution System Improvement charge and growth in the customer base. The DSIC is a Pennsylvania Public Utility Commission allowed charge that water utilities collect from customers for the replacement of aging infrastructure. The increased revenue was more than offset by higher operation and maintenance expenses, depreciation, and a lower allowance for funds used during construction. AFUDC is the cost of debt and equity funds used to finance plant construction. Income taxes increased due to lower deductions from the IRS tangible property regulations.