EXHIBIT 99.1


SJW CORP. ANNOUNCES 2012 ANNUAL AND
FOURTH QUARTER FINANCIAL RESULTS

SAN JOSE, CA, February 19, 2013 – SJW Corp. (NYSE: SJW) today reported operating revenue for the year ended
December 31, 2012 of $261.5 million versus $238.9 million for the year ended December 31, 2011, an increase of $22.6 million. The increase in revenue was attributable to cumulative rate increases of $17.6 million, $5.5 million in higher customer water usage, the recognition of certain balancing and memorandum accounts of $3.6 million in December 2012, $1.3 million from new customers and $383,000 from real estate operations. These increases were partially offset by the Mandatory Conservation Revenue Adjustment Memorandum Account ("MCRAM") of $5.7 million that was recognized in December 2011.

Water production costs for the year ended December 31, 2012 were $107.3 million compared to $92.1 million in 2011, an increase of $15.2 million. The increase in water production costs is primarily attributable to $6.7 million in higher per unit costs for purchased water and groundwater extraction charges, $5.3 million in higher costs due to a decrease in available surface water supply and $3.2 million in higher customer water usage.

Operating expenses, excluding water production costs, for the year ended December 31, 2012 were $99.0 million compared to $92.5 million in 2011. The increase of $6.5 million reflects an additional $3.7 million of administrative and general expenses primarily due to higher payroll and benefit costs, $1.9 million of higher depreciation expense, $782,000 in higher property taxes and $89,000 in higher maintenance expenses. The effective consolidated income tax rate was 41% for the years ended December 31, 2012 and 2011.

Net income was $22.3 million and diluted earnings per common share were $1.18, compared to $20.9 million and $1.11 per share, respectively, for the year ended December 31, 2011.

Fourth Quarter Financial Results

Operating revenue for the fourth quarter ended December 31, 2012 was $62.4 million versus $62.3 million for the same period in 2011, an increase of $100,000. The change was primarily attributable to $4.0 million in cumulative rate increases, $3.6 million due to the recognition of balancing and memorandum accounts and $358,000 from new customers. These increases were partially offset by the recognition of the MCRAM of $5.7 million in December 2011 and $2.1 million due to lower customer usage.

Water production costs for the fourth quarter of 2012 were $23.1 million versus $22.3 million for the same period in 2011, an increase of $800,000. The increase in water production costs is primarily attributable to $1.3 million in higher per unit costs for purchased water and groundwater extraction charges, $127,000 in higher costs due to a decrease in available surface water supply, partially offset by $585,000 in lower customer water usage. Operating expenses, excluding water production costs, increased $1.7 million to $25.2 million from $23.5 million. The increase was due to an increase in administrative and general expenses of $785,000, $411,000 in higher maintenance expenses, $372,000 of higher depreciation expense and $138,000 in higher taxes other than income taxes. The effective consolidated income tax rate was 42% and 43% for the quarter ended December 31, 2012 and 2011, respectively.

Net income was $5.9 million for the fourth quarter ended December 31, 2012, compared to $6.7 million for the same period in 2011. Diluted earnings per share were $0.31 for the quarter ended December 31, 2012, compared to $0.35 per diluted share for the same period in 2011.





1

The following information was filed by Sjw Group (SJW) on Wednesday, February 20, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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