American States Water Company ( AWR ) reported fourth
quarter 2012 earnings of 53 cents per share, outpacing the year-ago
figure of 35 cents by 51.4%. The results were 16 cents or 43.2%
higher than the Zacks Consensus Estimate.
Earnings during the quarter benefited from strong performance from
its Contracted Services segment which grew a whopping 283.3%.
Contribution from the Water segment also rose while soft results
from the Electric segment marginally offset these positives.
In 2012, American States Water Company posted earnings of $2.82
per share, 26.4% higher than the 2011 level of $2.23. The overall
strong performance of its reporting segments buoyed results.
Fourth quarter revenues of $111.5 million were up 17.1% year over
year from $95.2 million and also surpassed the Zacks Consensus
Estimate of $103.0 million by 8.7%.
The year-over-year outperformance came on the back of the
Contracted Services segment. The increase in construction activity
at the Fort Bragg military base in North Carolina and Fort Bliss in
Texas boosted the performance of this segment.
Full-year 2012 revenues came in at $466.9 million, surpassing the
year-ago figure of $419.9 million by 11.1%.
Highlights of the Release
Total operating expenses in the reported quarter increased 13.4%
to $90.4 million, mainly due to an increase in water purchased
expenses. However, administrative and general expenses decreased
4.7% to $18.1 million.
Operating income in the reported quarter was $21.2 million, up
36.1% from the year-ago quarter.
Interest expenses increased 2.1% to $4.9 million from $4.8 million
in the fourth quarter 2011.
Other Company Releases
American Water Works Company Inc . ( AWK ) reported fourth
quarter earnings per share of 30 cents, lagging the Zacks Consensus
Estimate of 35 cents by 14.3%.
Aqua America, Inc . ( WTR ) announced
fourth-quarter 2012 operating earnings of 47 cents per share, 95.8%
above the Zacks Consensus Estimate of 24 cents.
California Water Service Group ( CWT ) announced
fourth-quarter 2012 operating earnings of 12 cents per share, 33.3%
above the Zacks Consensus Estimate of 9 cents.
The construction projects at various military bases boosted the
results of the company. The company is likely to enjoy the benefits
in 2013 too. American States Water Company currently has a Zacks
Rank #2 (Buy).
Based in San Dimas, California, American States Water Company
was founded in 1929. The company caters to customers in the United
States and distributes water, electricity and other allied
services. The market capital of this company is $1.06
billion.AMER WATER WORK (AWK): Free Stock Analysis
ReportAMER STATES WTR (AWR): Free Stock Analysis
ReportCALIF WATER SVC (CWT): Free Stock Analysis
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