American States Water Company, which provides water to 255,000 customers in California, reported earnings that exceeded analysts’ expectations as second-quarter sales rose 4 percent.
American States, based in San Dimas, California, reported net income of $15.1 million, or 79 cents a share, compared with $12.7 million, or 68 cents, a year ago, the company said in a statement today. Earning were 15 cents higher than the average of four analysts’ estimates compiled by Bloomberg.
Sales were $114.3 million, up from $109.8 million a year earlier.
The company’s shares rose 0.8 percent to $41.78 at the close in New York.