Note 5 - Business Segment Data

3 Months Ended

Jun. 30, 2011

Segment Reporting

Segment Reporting Disclosure [Text Block]

Note 5 – Business Segment Data

The Company has identified two reportable segments. One is the regulated business of collecting, treating and distributing water on a retail and wholesale basis to residential, commercial, industrial and fire protection customers in parts of New Jersey, Delaware and Pennsylvania. This segment also includes regulated wastewater systems in New Jersey and Delaware. The Company is subject to regulations as to its rates, services and other matters by New Jersey, Delaware and Pennsylvania with respect to utility services within these states. The other segment is primarily comprised of non-regulated contract services for the operation and maintenance of municipal and private water and wastewater systems in New Jersey and Delaware. Inter-segment transactions relating to operational costs are treated as pass-through expenses. Finance charges on inter-segment loan activities are based on interest rates that are below what would normally be charged by a third party lender.

	(In Thousands)
	Three Months Ended June 30,						Six Months Ended June 30,
Operations by Segments:	2011			2010			2011			2010
Revenues:
Regulated	$	23,437		$	23,920		$	44,673		$	43,022
Non – Regulated		2,774			2,729			5,615			5,355
Inter-segment Elimination		(109	)		(111	)		(190	)		(193	)
Consolidated Revenues	$	26,102		$	26,538		$	50,098		$	48,184
Operating Income:
Regulated	$	6,317		$	7,390		$	10,652		$	10,222
Non – Regulated		421			504			854			962
Consolidated Operating Income	$	6,738		$	7,894		$	11,506		$	11,184
Net Income:
Regulated	$	3,372		$	4,101			5,745		$	5,367
Non – Regulated		253			323			510			617
Consolidated Net Income	$	3,625		$	4,424		$	6,255		$	5,984
Capital Expenditures:
Regulated	$	6,024		$	10,500		$	10,856		$	15,910
Non – Regulated		127			32			183			71
Total Capital Expenditures	$	6,151		$	10,532		$	11,039		$	15,981
	As of June 30, 2011			As of  December 31, 2010
Assets:
Regulated	$	498,663		$	486,918
Non – Regulated		9,184			8,116
Inter-segment Elimination		(5,714	)		(5,849	)
Consolidated Assets	$	502,133		$	489,185