Earnings release
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AVARTESIAN RESOURCES VA Artesian Water Company TM Artesian Wastewater Management OVER 100 YEARS OF SUPERIOR SERVICE Artesian Utility Development Artesian Water Pennsylvania Artesian Water Maryland Artesian Wastewater Maryland Artesian Resources Corporation Reports Year - to - Date and Second Quarter 2021 Results Newark , Delaware , August 4 , 2021 - Artesian Resources Corporation ( Nasdaq : ARTNA ) , a leading provider of water and wastewater services , and related services , on the Delmarva Peninsula , today announced second quarter and year - to - date results for 2021 . Diluted net income per share increased to $ 0.93 year - to - date • Invested $ 22.1 million year - to - date in water and wastewater infrastructure • Completed construction of a water treatment facility located in Dagsboro , Sussex County , Delaware , which provides an additional 2.0 million gallons per day of water supply to this fast- growing area Commenced operation of our Sussex Regional Wastewater Recharge Facility Year - to - Date Results Net income was $ 8.7 million , a $ 0.1 million , or 0.8 % , increase compared to net income recorded during the six months ended June 30 , 2020. Diluted net income per share increased 1.1 % to $ 0.93 for the six months ended June 30 , 2021 compared to $ 0.92 for the six months ended June 30 , 2020 . Revenues totaled $ 43.3 million , an increase of $ 1.6 million , or 3.9 % . Water sales revenue increased $ 1.1 million , or 3.0 % , primarily due to an increase in residential and non - residential consumption and an increase in the number of customers served . Other utility operating revenue increased $ 0.2 million , or 10.2 % , primarily the result of an increase in wastewater revenue from customer growth . Non - utility operating revenue increased 12.6 % to $ 2.8 million , primarily due to an increase in contract service revenue related to a contract for the design and construction of wastewater infrastructure and an increase in Service Line Protection Plan revenue that covers the cost of materials and labor to repair or replace participants ' leaking water services or clogged sewer lines . " The results of our strategic focus on the provision of wastewater services in fast - growing Sussex County , Delaware , are evident by the increase in wastewater revenue seen as new residents continue to relocate to be near the Delaware beaches , ” said Dian C. Taylor , Chair , President and CEO . “ These new residents are also our new water customers . Our ability to provide both water and wastewater infrastructure has allowed for construction of new home communities in targeted areas to meet the demand of those seeking to relocate to this highly desirable area , ” said Taylor . Operating expenses , excluding depreciation and income taxes , increased $ 1.2 million , or 5.1 % , primarily related to increases in utility and non - utility operating expenses . The increases are mainly the result of increases in payroll and benefits costs , water and wastewater treatment equipment maintenance costs and purchased water costs , partially offset by a decrease in bad debt reserve related to non - payment of water customer receivable balances resulting from the COVID - 19 pandemic .