RGC Resources, Inc. Reports Record Earnings

ROANOKE, Va., Nov. 16, 2016 (GLOBE NEWSWIRE) -- RGC Resources, Inc. (NASDAQ:RGCO) announced record consolidated Company earnings of $5,806,866 or $1.22 per share for the fiscal year ended September 30, 2016.  This compares to earnings of $5,094,415 or $1.08 per share for the year ended September 30, 2015.  CEO John D'Orazio stated, "The increase in earnings is attributable to improved utility margins associated with our infrastructure replacement programs and customer growth, and our investment in the Mountain Valley Pipeline (MVP)."  D'Orazio further commented, "The Company will continue to invest over the next 4-5 years in infrastructure replacement programs to enhance the safety and reliability of our gas distribution system for our utility subsidiary, Roanoke Gas Company.  Our investment in the MVP will also continue.  If approved, the MVP is scheduled to be in-service at the end of 2018."

Earnings for the quarter ending September 30, 2016 were $145,561 or $0.03 per share compared to $0.01 per share for the quarter ended September 30, 2015.  D'Orazio attributed the higher quarterly earnings primarily to higher utility margins, increased overhead capitalization and the MVP investment.

RGC Resources, Inc. provides energy and related products and services to customers in Virginia through its operating subsidiaries Roanoke Gas Company and RGC Midstream, LLC.

From time to time, the Company may publish forward-looking statements relating to such matters as anticipated financial performance, business prospects, technological developments, new products, research and development activities and similar matters.  The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements.  In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause the Company's actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company's forward-looking statements.  Past performance is not necessarily a predictor of future results.

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