Southwest Water's first-quarter net income increases 24 percent

Sponsored by

WEST COVINA, Calif., April 26, 2001 — Southwest Water Co. today reported increases in first-quarter revenues, income and earnings per share.

For the three months ended March 31, 2001, as compared with the same period in 2000, revenues rose 13 percent to $23,215,000, net income increased 24 percent to $535,000, and earnings per common share achieved a 20 percent gain to $0.06.

Anton C. Garnier, Southwest Water president and CEO, said: "The results of this quarter demonstrate our successful integration of the operations of three acquisitions made in 2000. These acquisitions helped us offset lower revenue resulting from cooler, wet weather and the impact of higher energy costs experienced in our California operations during the first quarter of 2001.

Also during the first quarter, the acquisitions helped the company replace revenue and income enjoyed last year with the sale of a large water treatment project in El Paso, Texas.

"We will continue to focus on developing opportunities in our existing business lines: contract operations, submetering and regulated utility operations. We also remain attentive to potential acquisitions that would meet our strategic goals and may consider various capital financing alternatives to help us achieve these goals. We are excited about the company's prospects and look forward to continued growth in shareholder value," Garnier said.

Southwest Water provides a broad range of services, including water production and distribution, wastewater collection and treatment, and utility submetering. The company owns regulated public utilities and also serves utility districts and private companies under contract. More than a million people in 30 states from coast to coast depend on Southwest Water for high-quality, reliable service.

Sponsored by

TODAY'S HEADLINES

AZ wastewater reclamation department improves THM monitoring with online THM analyzer

The Pima County Regional Wastewater Reclamation Department of Arizona has purchased and installed an online trihalomethane analyzer from Aqua Metrology Systems to monitor daily levels of the disinfection byproduct at its Tres Rios Wastewater Reclamation Facility.

Veolia selects Xylem as preferred partner under multi-year global contract

Under a major global contract, Veolia recently selected Xylem as a preferred partner to develop water and wastewater pumping and mixing solutions for all Veolia entities and relevant projects worldwide.

UK wastewater treatment works expansion to receive detailed design, project management

The Laing O’Rouke-Imtech joint venture recently appointed a partnership between Hyder Consulting and Mott MacDonald to provide design and project management services for a multimillion-pound expansion of Davyhulme wastewater treatment works in Greater Manchester, England.

NASP launches new Material Science Lab to drive piping innovations

North American Specialty Products has announced that it is celebrating the opening of a new Material Science Laboratory in the census-designated community of Leola, Pa.

FOLLOW US ON SOCIAL MEDIA