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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
REVENUES:        
Total revenues $ 14,321 $ 14,532 $ 39,441 $ 40,660
OPERATING EXPENSES:        
Operations and maintenance 3,444 3,587 10,213 9,557
General and administrative 3,960 3,923 12,317 11,934
Depreciation and amortization 2,933 3,185 8,863 8,545
Total operating expenses 10,337 10,695 31,393 30,036
OPERATING INCOME 3,984 3,837 8,048 10,624
OTHER INCOME (EXPENSE):        
Interest income 240 4 744 11
Interest expense (1,504) (1,260) (4,577) (3,709)
Allowance for equity funds used during construction 238 263 682 778
Other, net 1,028 678 2,358 1,619
Total other income (expense) 2 (315) (793) (1,301)
INCOME BEFORE INCOME TAXES 3,986 3,522 7,255 9,323
INCOME TAX EXPENSE (1,061) (888) (1,909) (2,484)
NET INCOME $ 2,925 $ 2,634 $ 5,346 $ 6,839
Basic earnings per common share (in dollars per share) $ 0.12 $ 0.11 $ 0.22 $ 0.28
Diluted earnings per common share (in dollars per share) 0.12 0.11 0.22 0.28
Dividends declared per common share (in dollars per share) $ 0.08 $ 0.07 $ 0.23 $ 0.22
Weighted average number of common shares used in the determination of:        
Basic (in shares) 24,219,564 24,171,228 24,198,270 24,046,493
Diluted (in shares) 24,302,521 24,231,801 24,301,974 24,144,384
Water service        
REVENUES:        
Total revenues $ 7,493 $ 7,520 $ 19,387 $ 18,916
Wastewater and recycled water service        
REVENUES:        
Total revenues 6,828 6,494 20,054 18,958
Unregulated revenues        
REVENUES:        
Total revenues $ 0 $ 518 $ 0 $ 2,786