8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported): May 4, 2015

RGC RESOURCES, INC.

(Exact name of Registrant as specified in its charter)

Virginia	000-26591	54-1909697
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

519 Kimball Ave., N.E. Roanoke, Virginia	24016
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: 540-777-4427

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 240.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13c-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On May 4, 2015, RGC Resources, Inc. issued a press release announcing the second quarter results for the quarter ending March 31, 2015. A copy of this press release is attached hereto as Exhibit 99.1 and is hereby incorporated by reference.

ITEM 9.01. FINANCIAL STATEMENT AND EXHIBITS.

99.1 Press Release dated May 4, 2015.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	RGC RESOURCES, INC.
Date: May 5, 2015	By:	/s/ Paul W. Nester
	Paul W. Nester
	Vice President, Secretary, Treasurer and CFO

EX-99.1

Exhibit 99.1

NEWS RELEASE

RGC RESOURCES, INC.

Release Date:	May 4, 2015
Contact:	Paul W. Nester
	Vice President and CFO
Telephone:	540-777-3837

RGC RESOURCES, INC.

SECOND QUARTER FINANCIAL RESULTS

ROANOKE, Va. (May 4, 2015)—RGC Resources, Inc. (NASDAQ: RGCO) announced consolidated Company earnings of $2,779,344 or $0.59 per average share outstanding for the quarter ended March 31, 2015. This compares to consolidated earnings of $2,846,795 or $0.60 per average share outstanding for the quarter ended March 31, 2014. CFO Paul Nester attributed the slight decline in earnings primarily due to lower volumes resulting from warmer weather as compared to the same period last year.

Earnings for the twelve months ending March 31, 2015 were $4,842,577 or $1.03 per share compared to $0.97 per share for the twelve months ended March 31, 2014. Nester attributed the higher year-over-year earnings primarily to improved utility margins and lower interest expense.

RGC Resources, Inc. provides energy and related products and services to customers in Virginia through its operating subsidiaries Roanoke Gas Company, Diversified Energy Company and RGC Ventures of Virginia, Inc.

From time to time, the Company may publish forward-looking statements relating to such matters as anticipated financial performance, business prospects, technological developments, new products, research and development activities and similar matters. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause the Company’s actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company’s forward-looking statements.

Net income for the three months ended March 31, 2015 are not indicative of the results to be expected for the fiscal year ending September 30, 2015 as quarterly earnings are affected by the highly seasonal nature of the business and weather conditions generally result in greater earnings during the winter months. Past performance is not necessarily a predictor of future results.

Summary financial statements for the second quarter and twelve months are as follow:

RGC Resources, Inc. and Subsidiaries

Condensed Consolidated Statements of Income

(Unaudited)

	Three Months Ended March 31,				Twelve Months Ended March 31,
	2015		2014		2015		2014
Revenues	$	26,431,729	$	32,699,965	$	69,986,769	$	72,994,595
Cost of sales	16,217,959		22,538,840		40,177,884		44,549,797
Gross margin	10,213,770		10,161,125		29,808,885		28,444,798
Other operating expenses, net	5,341,235		5,085,859		20,275,673		19,166,989
Interest expense	385,162		455,657		1,689,120		1,833,895
Income before income taxes	4,487,373		4,619,609		7,844,092		7,443,914
Income tax expense	1,708,029		1,772,814		3,001,515		2,865,139
Net income	$	2,779,344	$	2,846,795	$	4,842,577	$	4,578,775
Net earnings per share of common stock:
Basic	$	0.59	$	0.60	$	1.03	$	0.97
Diluted	$	0.59	$	0.60	$	1.03	$	0.97
Cash dividends per common share	$	0.1925	$	0.1850	$	0.7550	$	0.7300
Weighted average number of common shares outstanding:
Basic	4,724,548		4,713,567		4,720,964		4,709,836
Diluted	4,728,697		4,713,983		4,723,796		4,711,348

Condensed Consolidated Balance Sheets

(Unaudited)

	March 31,
Assets	2015		2014
Current assets	$	20,789,027	$	24,084,243
Total property, plant and equipment, net	113,261,232		102,847,991
Other assets	9,588,656		4,510,842
Total Assets	$	143,638,915	$	131,443,076
Liabilities and Stockholders’ Equity
Current liabilities	$	19,441,313	$	33,875,514
Long-term debt	30,500,000		11,400,000
Deferred credits and other liabilities	38,555,148		33,364,737
Total Liabilities	88,496,461		78,640,251
Stockholders’ Equity	55,142,454		52,802,825
Total Liabilities and Stockholders’ Equity	$	143,638,915	$	131,443,076