YORK, Pa., March 8, 2002 -- The York Water Co. President, William T. Morris, announced recently that the company has achieved record operating revenues and net income for the year 2001.
This is the company's sixth consecutive year of record operating revenues and net income. Improved revenues and net income are attributed to customer growth and rate increases which became effective September 1, 2001.
President Morris reported that the operating revenues of $19,402,542 were up 5.0% and that net income of $4,006,067 increased 6.6% compared to 2000.
During the year the company spent $7.1 million on construction projects, primarily on its water distribution system to expand its service territory.
Operating revenues for the fourth quarter increased $408,576 or 8.8% over the fourth quarter 2000. Net income for the fourth quarter increased $105,640 or 12.0% compared to the fourth quarter 2000 primarily due to the increase in operating revenues.
