California Water Service (CWT) Reports In-Line Q2 EPS
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California Water Service Group Announces Second Quarter and Year to Date 2016 Results
July 28, 2016 9:03 AM EDTSAN JOSE, CA -- (Marketwired) -- 07/28/16 -- California Water Service Group (NYSE: CWT) today announced 2016 second quarter net income of $11.5 million or $0.24 per diluted common share, compared to net income of $9.8 million or $0.21 per diluted common share for the same period last year. The $1.7 million increase was due primarily to higher accrued unbilled revenue resulting from higher customer consumption at the end of the period, which was partially offset by increases in maintenance, depreciation and amortization, and net interest expense.
Total revenue increased $8.0 million, or 5.6%, to $152.4 million, compared to revenue of $144.4 million for the... More
