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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
REVENUES:        
Water services $ 5,492 $ 4,963 $ 13,555 $ 12,344
Wastewater and recycled water services 5,238 4,962 15,187 14,393
Unregulated revenues 27 17 134 49
Total revenues 10,757 9,942 28,876 26,786
OPERATING EXPENSES:        
Operations and maintenance 2,584 1,914 7,156 5,417
Operations and maintenance - related party 0 435 0 1,287
General and administrative 2,969 3,074 8,682 8,099
Depreciation and amortization 2,312 1,957 6,622 5,977
Total operating expenses 7,865 7,380 22,460 20,780
OPERATING INCOME 2,892 2,562 6,416 6,006
OTHER INCOME (EXPENSE):        
Interest income 9 49 88 167
Interest expense (1,342) (1,341) (4,039) (4,044)
Other 70 68 (361) 1,218
Other - related party 0 97 0 213
Total other expense (1,263) (1,127) (4,312) (2,446)
INCOME BEFORE INCOME TAXES 1,629 1,435 2,104 3,560
INCOME TAX EXPENSE 498 388 (741) (1,086)
NET INCOME $ 1,131 $ 1,047 $ 1,363 $ 2,474
Basic earnings per common share $ 0.05 $ 0.05 $ 0.06 $ 0.12
Diluted earnings per common share 0.05 0.05 0.06 0.11
Dividends declared per common share $ 0.07 $ 0.07 $ 0.22 $ 0.21
Weighted average number of common shares used in the determination of:        
Basic 22,586,588 21,536,834 22,495,675 21,509,770
Diluted 22,633,133 21,571,240 22,530,371 21,521,255