This column was originally published on RealMoney on June 21 at 1:01 p.m. EDT."There is nothing more yielding than water,
yet when acting on the solid and strong,
its gentleness and fluidity
have no equal in any thing." -- Tao Te Ching I can't pretend to be an expert on the water business but this most basic commodity has witnessed strongly increasing demand over the past several years in an increasingly global economy. I first wrote about the
- The fear of a bioterrorist attack that would increase the need for both protection of existing water distribution (see this weekend's release of Batman Begins for a fictional version of this fear) as well as the need for tools to cleanse water.
- Emerging markets not only increasing the need for clean water used in the production process but also increasing the pollution that is filling the rivers and lakes from which we drink.
For the twelve months ended Dec. 31, 2004, total revenue increased 22% to a record $23.3 million, compared with $19.1 million in the previous year. Net income rose 48% to a record $6,197,383, or $1.05 per diluted share, versus $4,177,081, or $0.83 per diluted share, in the year ended December 31, 2003.