WASHINGTON (dpa-AFX) - Aqua America Inc. (WTR) Wednesday reported an increase in profit for the first quarter, due mainly to higher revenues.
The Bryn Mawr, Pennsylvania-based company's net profit attributable to common shareholders for the first quarter was $37.90 million or $0.27 per share, compared to $30.35 million or $0.22 per share last year.
For the quarter, income from continuing operations dropped to $27.66 million or $0.20 per share from $30.65 million or $0.22 per share in the similar year quarter.
Adjusted net income from continuing operations for the quarter rose to $27.66 million or $0.20 per share from $26.32 million or $0.19 per share in the prior-year quarter.
On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.22 per share for the quarter. Analysts' estimates typically exclude special items.
Total operating revenues for the quarter grew 4 percent to $170.24 million from $163.62 million in the prior-year quarter. Eight analysts had a consensus revenue estimate of $183.04 million for the quarter.
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