WASHINGTON (dpa-AFX) - Utility American States Water Co. (AWR) on Monday reported a fall in profit for the fourth quarter amid a decline in operating revenues. Adjusted earnings per share from continuing operations increased from last year.
Net income declined to $6.7 million from $9.1 million in the prior year. Earnings per share dropped to $0.35 from $0.48.
The prior-year results included around $0.36 per share of pretax income recorded at AWR's Golden State Water Company subsidiary and a pretax charge of $0.23 per share for the impairment of assets and loss contingencies resulting from regulatory matters.
Adjusted earnings per share from continuing operations climbed to $0.35 from $0.31.
On average, five analysts polled by Thomson Reuters expected earnings of $$0.40 per share for the quarter. Analysts' estimates typically exclude special items.
Operating revenues fell to $95.24 million from $103.70 million. Analysts expected revenues of $104.35 million.
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