May 12--YORK, Pa. -- An increase in rates effective Feb. 28, higher per capita consumption and growth in both the water and wastewater customer bases contributed to a boost in first-quarter revenue for The York Water Co.
The York-based company has reported that first quarter operating revenues of $10.6 million increased $502,000, and net income of $2.1 million dropped by $28,000 compared to the first quarter of last year, according to a news release.
The increased revenues were offset by higher expenses traced back to wages, depreciation, cold-weather related distribution system maintenance, pensions and technology upgrades.
Earnings per share for the three-month period decreased $0.01 compared to the same period last year, according to the release.
During the first three months of the year, York Water invested $2 million for upgrades to water treatment facilities, to replace a portion of its infrastructure and other routine items.
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