Philadelphia Suburban Corporation Expects Significant Increase in Second Quarter 2001 Income From Operations
Philadelphia Suburban Corporation Expects Significant Increase in Second Quarter 2001 Income From Operations
July 20, 2001
Philadelphia Suburban Corporation Expects Significant Increase in Second Quarter 2001 Income From Operations BRYN MAWR, Pa.--(BUSINESS WIRE)--July 20, 2001--Philadelphia Suburban Corporation (NYSE:PSC) expects to report increased earnings per share over the 2000 level of $.26, and income from operations up significantly from second quarter 2000 levels of $.24 per share, when it releases operating results for the quarter on Tuesday, July 31, 2001.
The company also expects net income per share to meet current consensus estimates.
The company's expected second quarter earnings growth follows increased first quarter 2001 earnings of $.24 (versus $.20 in first quarter 2000), and is the result of increased revenues enhanced by cost containment efforts.
PSC has demonstrated its ability to contain costs while continuing to grow revenues, through its growth-through-acquisition program, a strategy that has allowed the company to decrease its operations and maintenance costs on a per customer basis.
The company's quarterly conference call with analysts will be held on Tuesday, July 31, 2001, at 11:00 a.m. Eastern Daylight Time. Interested parties may listen to the conference call over the Internet by logging onto www.suburbanwater.com.
PSC is the second largest investor-owned water utility in the United States, serving approximately two million residents in Pennsylvania, Ohio, Illinois, New Jersey, Maine, and North Carolina.
PSC is a publicly traded company listed on both the New York and Philadelphia Stock Exchanges under the ticker symbol "PSC" and has been committed to the preservation and improvement of the environment throughout its history, which spans more than 100 years.
--30--KMK/ph*
CONTACT:
Philadelphia Suburban Corporation
Keya W. Epps, 610/645-1084
Donna Alston, 610/645-1095
The company also expects net income per share to meet current consensus estimates.
The company's expected second quarter earnings growth follows increased first quarter 2001 earnings of $.24 (versus $.20 in first quarter 2000), and is the result of increased revenues enhanced by cost containment efforts.
PSC has demonstrated its ability to contain costs while continuing to grow revenues, through its growth-through-acquisition program, a strategy that has allowed the company to decrease its operations and maintenance costs on a per customer basis.
The company's quarterly conference call with analysts will be held on Tuesday, July 31, 2001, at 11:00 a.m. Eastern Daylight Time. Interested parties may listen to the conference call over the Internet by logging onto www.suburbanwater.com.
PSC is the second largest investor-owned water utility in the United States, serving approximately two million residents in Pennsylvania, Ohio, Illinois, New Jersey, Maine, and North Carolina.
PSC is a publicly traded company listed on both the New York and Philadelphia Stock Exchanges under the ticker symbol "PSC" and has been committed to the preservation and improvement of the environment throughout its history, which spans more than 100 years.
--30--KMK/ph*
CONTACT:
Philadelphia Suburban Corporation
Keya W. Epps, 610/645-1084
Donna Alston, 610/645-1095