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Condensed Consolidated Statements of Income and Comprehensive Income (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
OPERATING REVENUE $ 59,007 $ 54,128 $ 102,703 $ 94,539
OPERATING EXPENSE:        
Purchased water 12,681 11,335 20,097 17,154
Power 1,373 1,584 2,387 2,728
Groundwater extraction charges 5,300 6,238 9,808 11,233
Other production costs 2,820 2,568 5,412 5,106
Total production costs 22,174 21,725 37,704 36,221
Administrative and general 9,658 8,639 19,294 17,627
Maintenance 3,476 3,289 6,524 6,065
Property taxes and other non-income taxes 2,123 2,060 4,210 3,763
Depreciation and amortization 7,792 7,070 15,586 14,181
Total operating expense 45,223 42,783 83,318 77,857
OPERATING INCOME 13,784 11,345 19,385 16,682
OTHER (EXPENSE) INCOME:        
Interest on long-term debt (4,235) (3,636) (8,491) (7,258)
Mortgage and other interest expense (447) (569) (922) (1,069)
Loss on sale of utility property 0 0 (23) 0
Dividend income 60 327 120 654
Other, net 106 150 242 275
Income before income taxes 9,268 7,617 10,311 9,284
Provision for income taxes 3,817 3,101 4,250 3,783
NET INCOME 5,451 4,516 6,061 5,501
Other comprehensive income (loss):        
Unrealized income (loss) on investment 48 (2,101) 29 (1,232)
Less: income taxes related to other comprehensive income (loss) (20) 861 (12) 505
Other comprehensive income (loss), net 28 (1,240) 17 (727)
COMPREHENSIVE INCOME $ 5,479 $ 3,276 $ 6,078 $ 4,774
EARNINGS PER SHARE        
Basic $ 0.29 $ 0.24 $ 0.33 $ 0.29
Diluted $ 0.29 $ 0.24 $ 0.32 $ 0.29
DIVIDENDS PER SHARE $ 0.17 $ 0.17 $ 0.34 $ 0.34
WEIGHTED AVERAGE SHARES OUTSTANDING        
Basic 18,577,226 18,528,497 18,573,701 18,523,794
Diluted 18,784,694 18,740,662 18,780,058 18,731,104