0000108985-12-000048.txt : 20120508 0000108985-12-000048.hdr.sgml : 20120508 20120508093755 ACCESSION NUMBER: 0000108985-12-000048 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20120502 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120508 DATE AS OF CHANGE: 20120508 FILER: COMPANY DATA: COMPANY CONFORMED NAME: YORK WATER CO CENTRAL INDEX KEY: 0000108985 STANDARD INDUSTRIAL CLASSIFICATION: WATER SUPPLY [4941] IRS NUMBER: 231242500 STATE OF INCORPORATION: PA FISCAL YEAR END: 0123 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34245 FILM NUMBER: 12819875 BUSINESS ADDRESS: STREET 1: 130 E MARKET ST CITY: YORK STATE: PA ZIP: 17405 BUSINESS PHONE: 7178453601 MAIL ADDRESS: STREET 1: PO BOX 15089 8-K 1 form8k050812.htm THE YORK WATER COMPANY 8K 05-08-12 form8k050812.htm  

UNITED STATES
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: May 8, 2012
(Date of earliest event reported)

The York Water Company

THE YORK WATER COMPANY
(Exact name of registrant as specified in its charter)


PENNSYLVANIA
001-34245
23-1242500
(State or other jurisdiction
(Commission
(I.R.S. Employer
of incorporation)
File Number)
Identification No.)
 
130 EAST MARKET STREET
YORK, PENNSYLVANIA
 
17401
(Address of principal executive offices)
(Zip Code)

(717) 845-3601
(Registrant's telephone number, including area code)

Not Applicable
(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 (see General Instruction A.2. below):
 
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
¨
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 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 

 
THE YORK WATER COMPANY


Item 2.02
Results of Operations and Financial Condition.


On May 8, 2012, The York Water Company issued a press release announcing its first quarter 2012 financial results.  The press release is being furnished with this Current Report on Form 8-K Exhibit 99.1 and is hereby incorporated herein by reference.  This report (including the exhibit) shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference in any filing made by the Registrant pursuant to the Securities Act of 1933, as amended, other than to the extent that such filing incorporates by reference any or all of such information by express reference thereto.


Item 9.01
Financial Statements and Exhibits.
   
(c) Exhibits.
 
   
Exhibit No.
Description of Exhibit
   

 
 

 
THE YORK WATER COMPANY


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 thereunto duly authorized.
 

 
THE YORK WATER COMPANY
 
       
Date: May 8, 2012
By:
/s/Kathleen M. Miller  
   
Kathleen M. Miller
 
    Chief Financial Officer  
       


 


EX-99.1 2 exhibit99_1-050812.htm YWC PRESS RELEASE 05-08-12 exhibit99_1-050812.htm  

EXHIBIT 99.1 

 
News Release
 
 
The York Water Company
   
130 East Market Street
Contact:
Jeffrey R. Hines, President
York, PA  17401
Or
jeffh@yorkwater.com
 
the york water company
 
 
Kathleen M. Miller, Chief Financial Officer
 
kathym@yorkwater.com
Phone:
717-845-3601
FOR IMMEDIATE RELEASE
     

YORK WATER COMPANY REPORTS THREE MONTHS EARNINGS
AND ANNOUNCES ITS FOURTH ACQUISITION OF 2012


York, Pennsylvania, May 8, 2012:  The York Water Company's (NASDAQ:YORW) President, Jeffrey R. Hines, announced today the Company's financial results for the first quarter of 2012.
 
President Hines reported that first quarter operating revenues of $9,669,000 increased $24,000, and net income of $1,941,000 decreased $198,000 compared to the first quarter of 2011.  Modestly higher water revenues due to an increased customer base were offset by increases in wages, distribution system maintenance and depreciation. In addition, the first quarter of 2011 benefited from life insurance proceeds, while the first quarter of 2012 did not, and tax law changes were not as favorable as 2011.  Earnings per share for the three-month period decreased $0.02 compared to the same period last year.
 
During the first three months of 2012, the Company invested $2.1 million in capital projects for upgrades to its enterprise software system and its distribution system, as well as various replacements of aging infrastructure. The Company estimates it will invest an additional $10.0 million in 2012 for expansion and improvements to its systems and infrastructure to continue providing excellent customer service and ensuring a safe, adequate, and reliable supply of drinking water for the Company’s growing customer base.

 
Three Months Ended
March 31
In 000's (except per share)
 
 
2012
 
2011
Operating Revenues
$9,669
 
$9,645
Net Income
$1,941
 
$2,139
Average Number of Common Shares Outstanding
12,802
 
12,696
Basic Earnings per Common Share
$0.15
 
$0.17
Dividends Paid Per Common Share
$0.1336
 
$0.1310


In April, the Company signed an agreement to purchase the water assets of the Windy Brae Mobile Home Park in York County, Pennsylvania at a purchase price of $18,000. The Company expects to close on this acquisition that serves 135 customers in the third quarter.  With this acquisition, York Water has now announced three water and one wastewater acquisition in 2012 and expects to begin serving these approximately 715 new customers in the second and third quarters of 2012 following necessary approvals from regulatory authorities.

This news release may contain forward-looking statements regarding the Company’s operational and financial expectations. These statements are based on currently available information and are subject to risks, uncertainties, and other events which could cause the Company’s actual results to be materially different from the results described in this statement. The Company undertakes no duty to update any forward-looking statement.

###
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