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American States Water's 4Q Profit Falls 53 Percent

Stock quotes in this article: AWR  

SAN DIMAS, Calif. (AP) — American States Water Co. said Thursday that fourth-quarter profit plunged by more than half, weighed down by impairment charges and compared with the year-earlier period boosted by a regulatory ruling that yielded $3.3 million in pretax income.

Net income of $2.9 million, or 16 cents per share, was down 53 percent from $6.1 million, or 35 cents per share, a year earlier. Excluding items, it earned 40 cents per share for the most recent quarter.

Quarterly revenue for the period ended Dec. 31 jumped 14 percent to $84.2 million from $74 million. ...

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