The York Water Co. on Friday announced its operating revenues and net income decreased in the third quarter.
Third-quarter operating revenues decreased $113,000 to $10.9 million and net income decreased $225,000 to $2.5 million, compared to the same period in 2012.
The lower revenue was due to decreased consumption and increased expenses including depreciation, health insurance and power costs, according to company President Jeffrey Hines.
Despite third-quarter losses, operating revenues and net income increased during the first nine months of the year, according to a news release.
Operating revenues for the first nine months increased $672,000 to $31.7 million and net income increased $111,000 to $7 million, compared to the first nine months of 2012.
Higher revenues were due to growth in the customer base and an increase in charges approved by the Pennsylvania Public Utility Commission to replace aging infrastructure, Hines said.
During the first nine months of the year, York Water invested $6.6 million in capital projects and estimates it will spend another $3.3 million in the fourth quarter.