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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (In thousands except per share amounts) (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Operating Revenues $ 26,102 $ 26,538 $ 50,098 $ 48,184
Operations and Maintenance 14,062 13,576 28,093 27,170
Depreciation 2,417 2,236 4,829 4,439
Other Taxes 2,885 2,832 5,670 5,391
Total Operating Expenses 19,364 18,644 38,592 37,000
Operating Income 6,738 7,894 11,506 11,184
Allowance for Funds Used During Construction 197 348 391 642
Other Income. 202 189 359 360
Other Expense. (111) (33) (160) (53)
Total Other Income, net 288 504 590 949
Interest Charges 1,714 1,882 2,928 3,306
Income before Income Taxes 5,312 6,516 9,168 8,827
Income Taxes. 1,687 2,092 2,913 2,843
Net Income 3,625 4,424 6,255 5,984
Preferred Stock Dividend Requirements 51 52 103 104
Earnings Applicable to Common Stock $ 3,574 $ 4,372 $ 6,152 $ 5,880
Earnings per share of Common Stock: Basic $ 0.23 $ 0.31 $ 0.40 $ 0.43
Earnings per share of Common Stock: Diluted $ 0.23 $ 0.31 $ 0.40 $ 0.42
Average Number of Common Shares Outstanding : Basic 15,598 13,972 15,587 13,756
Average Number of Common Shares Outstanding : Diluted 15,861 14,235 15,850 14,019
Cash Dividends Paid per Common Share $ 0.1825 $ 0.1800 $ 0.3650 $ 0.3600