American States Water Company (NYSE:AWR) today reported net income of $10.3 million, or basic and fully diluted earnings per share of $0.54 and $0.53, respectively, for the quarter ended December 31, 2012, as compared to net income of $6.7 million, or basic and fully diluted earnings per share of $0.36 and $0.35, respectively, for the quarter ended December 31, 2011, a 51.4% increase in diluted earnings per share.
“We are very pleased with our fourth quarter and full year earnings, particularly the performance of our contracted service business segment,” said President and Chief Executive Officer Robert J. Sprowls. “The improved performance of this segment in 2012 was driven by several large, multi-year construction projects, which we expect to continue in 2013 though tempered by some slowing in renewal and replacement capital work,” Sprowls added.
Fourth Quarter 2012 Results
The table below sets forth a comparison of the fourth quarter diluted earnings per share by business segment:
|Q4 2012||Q4 2011||Change|