0000108985-13-000048.txt : 20130508 0000108985-13-000048.hdr.sgml : 20130508 20130508093616 ACCESSION NUMBER: 0000108985-13-000048 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20130508 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20130508 DATE AS OF CHANGE: 20130508 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: 13822940 BUSINESS ADDRESS: STREET 1: 130 E MARKET ST CITY: YORK STATE: PA ZIP: 17401-1219 BUSINESS PHONE: 7178453601 MAIL ADDRESS: STREET 1: 130 EAST MARKET STREET CITY: YORK STATE: PA ZIP: 17401-1219 8-K 1 form8k050813.htm THE YORK WATER COMPANY 8-K 05-08-13
 
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, 2013
(Date of earliest event reported)


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, 2013, The York Water Company issued a press release announcing its first quarter 2013 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
 
 
 
 
 
/s/Kathleen M. Miller
Date: May 8, 2013
Kathleen M. Miller
 
Chief Financial Officer


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EXHIBIT 99.1
 
News Release
 
 
The York Water Company
 
 
130 East Market Street
Contact:
Jeffrey R. Hines, President
York, PA  17401
jeffh@yorkwater.com
 
 
Or
Kathleen M. Miller, Chief Financial Officer
 
kathym@yorkwater.com
Phone:
717-845-3601
FOR IMMEDIATE RELEASE
 
 
 

YORK WATER COMPANY REPORTS THREE MONTHS EARNINGS

York, Pennsylvania, May 8, 2013:  The York Water Company's (NASDAQ:YORW) President, Jeffrey R. Hines, announced today the Company's financial results for the first quarter of 2013.

President Hines reported that first quarter operating revenues of $10,069,000 increased $400,000, and net income of $2,139,000 increased $198,000 compared to the first quarter of 2012.  Higher revenues were due to an increase in the Distribution System Improvement Charge (DSIC) and growth in the customer base, mainly through acquisitions.  The DSIC is a surcharge allowed by the Pennsylvania Public Utility Commission for the replacement of aging infrastructure. The higher revenues were partially offset by higher income taxes and depreciation expense.  Earnings per share for the three-month period increased $0.02 compared to the same period last year.

During the first three months of 2013, the Company invested $2.4 million in construction expenditures for routine items as well as various replacements of infrastructure. In addition, the Company invested $27,000 as it closed on the previously announced acquisition of the water system of the Windy Brae Mobile Home Park in York County, Pennsylvania.  The Company estimates it will invest an additional $11.7 million in 2013, excluding acquisitions, for expansion and improvements to its pipes, filtration system, facilities, and dams to ensure a safe, adequate, and reliable supply of drinking water and to maintain proper handling and disposal of wastewater for the Company's growing customer base.


 
Three Months Ended
March 31
In 000's (except per share)
 
 
2013
 
2012
Operating Revenues
$10,069
 
$9,669
Net Income
$2,139
 
$1,941
Average Number of Common Shares Outstanding
12,938
 
12,802
Basic Earnings per Common Share
$0.17
 
$0.15
Dividends Paid Per Common Share
$0.1383
 
$0.1336


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.

###