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): August 1, 2016

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 August 1, 2016, RGC Resources, Inc. issued a press release announcing the results for the third quarter ending June 30, 2016. 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 August 1, 2016.

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: August 2, 2016	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:	August 1, 2016
Contact:	Paul W. Nester
	Vice President and CFO
Telephone:	540-777-3837

RGC RESOURCES, INC.

THIRD QUARTER FINANCIAL RESULTS

ROANOKE, Va. (August 1, 2016)—RGC Resources, Inc. (NASDAQ: RGCO) announced consolidated Company earnings of $627,068 or $0.13 per average share outstanding for the quarter ended June 30, 2016. This compares to consolidated earnings of $354,940 or $0.08 per average share outstanding for the quarter ended June 30, 2015. CFO Paul Nester attributed the increase to improved utility margins, customer growth, higher capital spending, and lower operating expenses.

Earnings for the twelve months ending June 30, 2016 were $5,697,060 or $1.20 per share compared to $1.04 per share for the twelve months ended June 30, 2015. Nester attributed the higher year-over-year earnings primarily to improved utility margins, customer growth, higher capital spending, and lower operating expenses.

RGC Resources, Inc. provides energy and related products and services to customers in Virginia through its operating subsidiaries Roanoke Gas Company, RGC Midstream, LLC 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 June 30, 2016 is not indicative of the results to be expected for the fiscal year ending September 30, 2016 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 third quarter and twelve months are as follows:

RGC Resources, Inc. and Subsidiaries

Condensed Consolidated Statements of Income

(Unaudited)

	Three Months Ended June 30,				Twelve Months Ended June 30,
	2016		2015		2016		2015
Revenues	$	11,295,197	$	10,774,409	$	58,816,430	$	68,736,361
Cost of sales	4,982,857		4,812,581		27,708,013		38,687,199
Gross margin	6,312,340		5,961,828		31,108,417		30,049,162
Other operating expenses, net	4,857,579		5,026,752		20,226,904		20,499,522
Interest expense	396,304		358,850		1,591,940		1,591,209
Income before income taxes	1,058,457		576,226		9,289,573		7,958,431
Income tax expense	431,389		221,286		3,592,513		3,044,108
Net income	$	627,068	$	354,940	$	5,697,060	$	4,914,323
Net earnings per share of common stock:
Basic	$	0.13	$	0.08	$	1.20	$	1.04
Diluted	$	0.13	$	0.07	$	1.20	$	1.04
Cash dividends per common share	$	0.2025	$	0.1925	$	0.8000	$	0.7625
Weighted average number of common shares outstanding:
Basic	4,773,766		4,729,428		4,754,752		4,723,796
Diluted	4,781,808		4,732,620		4,759,009		4,727,181

Condensed Consolidated Balance Sheets

(Unaudited)

	June 30,
Assets	2016		2015
Current assets	$	12,566,358	$	12,352,281
Total property, plant and equipment, net	127,872,827		115,276,089
Other assets	14,657,699		9,501,449
Total Assets	$	155,096,884	$	137,129,819
Liabilities and Stockholders’ Equity
Current liabilities	$	23,006,548	$	16,741,218
Long-term debt	32,828,556		30,314,159
Deferred credits and other liabilities	42,713,478		35,410,357
Total Liabilities	98,548,582		82,465,734
Stockholders’ Equity	56,548,302		54,664,085
Total Liabilities and Stockholders’ Equity	$	155,096,884	$	137,129,819