York Water Company approved for Nasdaq listing
The York Water Company (OTCBB:YORW) has been approved for listing its common stock on the Nasdaq National Market.
YORK, Pa., Jan. 10, 2001 (BUSINESS WIRE)—The York Water Company (OTCBB:YORW) has been approved for listing its common stock on the Nasdaq National Market.
Trading in the Company's common stock will begin January 16, 2001.
YORW will be the trading symbol for the Company's common stock.
The water company, which supplies about 20 mgd, was added to the Nasdaq after releasing a third quarter report pointing to record operating revenues and net income for the first three quarters of the year 2000.
Improved revenues and net income were attributed to customer growth, cost containments implemented by the company, and price increases which became effective October 1, 1999.
President Morris reported that the operating revenues of $13,856,313 were up 8.1% and that first nine months net income of $2,879,944 increased 22.9% compared to the first nine months of 1999.
During the first nine months of the year, the company spent over $4.4 million on construction projects, primarily on its water distribution system to expand its service territory.
Operating revenues for the third quarter increased $127,589 or 2.8% over the third quarter 1999. Net income for the third quarter increased $228,730 or 25.1% compared to the third quarter 1999 primarily due to a decrease in general and administrative expenses.