Earnings Per Share

9 Months Ended

Jun. 30, 2011

Earnings Per Share [Abstract]

Earnings Per Share

Note 15 – Earnings Per Share

For the three months ended June 30, 2011, net income decreased by $229,777 compared to the same period in 2010 mainly because higher operating expense, taxes other than income taxes and depreciation expense offset higher margins. For the nine months ended June 30, 2011, net income decreased by $290,911 compared to the same period in 2010 due to in part to regulatory reconciliations, specifically Gas Adjustment Clause (“GAC”) adjustments, and a reconciliation of revenue under our revenue decoupling mechanism (RDM). These items resulted in an after-tax increase of $348,733 in operating revenue or $.20 earnings per share for the nine months ending June 30, 2010 compared to the same period ending June 30, 2011. Earnings per share have been adjusted retroactively for prior periods to reflect the stock dividend paid in April 2011 (see Note 16 – Stock Dividend).