SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 10, 2003
THE YORK WATER COMPANY
(Exact name of Registrant as specified in its Charter)
Pennsylvania 0-690 23-1242500
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
130 East Market Street, York, Pennsylvania 17401
(Address of principal executive offices) (Zip Code)
Registrant's telephone number including Area Code 717-845-3601
(Former name or former address, if changed since last report.)
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits
99.1Press Release, Dated November 10, 2003, issued by The York Water
Company.
Item 12. Disclosure of Results of Operations and Financial Condition.
On November 10, 2003, The York Water Company issued a press release
announcing its third quarter 2003 financial results. The press release is
being furnished with this Current Report on Form 8-K Exhibit 99.1 and is
hereby incorporated herein by reference. This report (including the
exhibit) shall not be deemed to be "filed" for the purposes of Section 18
of the Securities Exchange Act of 1934, as amended, nor shall it be
incorporated by reference in any filing made by the Registrant pursuant to
the Securities Act of 1933, a amended, other than to the extent that such
filing incorporates by reference any or all of such information by express
reference thereto.
Exhibit 99.1
News Release THE YORK WATER COMPANY
130 East Market Street
York, PA 17401
Contact: Jeffrey S. Osman, President & Chief Executive Officer
Or
Kathleen M. Miller, Chief Financial Officer
Phone: (717) 845-3601 FOR IMMEDIATE RELEASE
YORK WATER COMPANY
REPORTS IMPROVED NINE MONTH EARNINGS
York, Pennsylvania, November 10, 2003: The York Water Company's
(Nasdaq: YORW) President, Jeffrey S. Osman, announced today the Company's
financial results for the third quarter and the first nine months of 2003.
President Osman reported that quarterly operating revenues of $5,786,000
increased 9.7% over the third quarter of 2002, and that quarterly net income
of $1,494,000 increased 33.9% compared to the third quarter of 2002.
President Osman also reported that the first nine months' operating revenues
of $15,592,000 increased 5.1% over the first nine months of 2002, and that
net income of $3,301,000 increased 13.4% compared to the first nine months
of 2002. Increased revenues and net income resulted from the addition of more
than 800 new customers and a rate increase approved by the Pennsylvania
Public Utility Commission effective June 26, 2003.
During the first nine months of 2003 the Company spent over $5.9 million on
construction projects, primarily on its water distribution system to expand
its service territory, and additionally on the Susquehanna River pipeline
project and various main relinings. The Company installed over 68,000 feet
of pipe through the first nine months of 2003.
Period Ended September 30
In 000's (except per share)
Quarter Nine Months
2003 2002 2003 2002
Water Operating Revenues $5,786 $5,276 $15,592 $14,832
Net Income $1,494 $1,116 $3,301 $2,912
Average Number of Common Shares
Outstanding 6,380 6,324 6,380 6,324
Basic Earnings Per Common Share $0.24 $0.18 $0.52 $0.46
Dividends Paid Per Common Share $0.13 $0.13 $0.40 $0.39
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
The York Water Company
(Registrant)
Dated: November 10, 2003 By: /S/ Kathleen M. Miller
(Kathleen M. Miller)
Chief Financial Officer