|
Investor Info 2000 For
Immediate Release: Contact:
Maurice L. Arel, President and Chief Executive Officer Pennichuck
Corporation Announces First Quarter 2000 Earnings Maurice L. Arel, President and Chief Executive Officer of Pennichuck Corporation, announced today that net income for the first three months of 2000 was $460,000, or $.26 per share compared to $456,000, or $.26 per share for the same quarter in 1999. Consolidated revenues, comprised chiefly of water utility revenues, were $4,125,000 for the first quarter of 2000 -- an increase of $234,000, or 6% over the same quarter last year. Mr. Arel was pleased to note that revenues gains were realized in each of the Company's three business segments – regulated water utility operations, contract operations and real estate development. Revenues from its regulated utilities were $3,640,000 for the quarter ended March 31, 2000, which was a 2.2% increase from the first quarter of 1999. He stated that the increase reflects the growth in the number of utility customers from a year ago. Pennichuck Corporation is a holding company located Nashua, New Hampshire with five wholly-owned subsidiaries. Pennichuck Water Works, Inc., Pennichuck East Utility, Inc. and Pittsfield Aqueduct Company, Inc. are regulated businesses involved in water supply and distribution in cities and towns throughout southern and central New Hampshire. Pennichuck Water Service Corporation is involved in non-regulated, water-related services and operations and The Southwood Corporation owns, manages and develops real estate. Pennichuck Corporation is traded on the Nasdaq NMS exchange under the symbol "PNNW". Pennichuck
Corporation
|