Earnings
SouthWest Water Co. 1Q Loss Balloons On Charges
LOS ANGELES (AP) — SouthWest Water Co. said Wednesday its first-quarter loss swelled on restatement charges and costs stemming from the settlement of an eminent domain proceeding.
For the quarter ended March 31, SouthWest Water posted a loss of $3.2 million, or 13 cents per share, compared with a loss of $979,000, or 4 cents per share, in the year-ago period. Excluding one-time items, the company posted an adjusted profit from continuing operations of $649,000, or 3 cents per share, up from $68,000, or less than a penny per share, on the same basis last year. Revenue rose 5.5 percent to $52.4 million from $49.7 million. The company said its Texas utilities and both of its contract service divisions posted improved results for the recent quarter on revenue growth and increased operating efficiencies.TheStreet Premium Services
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