Exhibit 99.1
News Release
   The York Water Company
   
   130 East Market Street
Contact:
Jeffrey R. Hines, President
   York, PA  17401
or
     jeffh@yorkwater.com
 
 
 
Kathleen M. Miller, Chief Financial Officer
 
     kathym@yorkwater.com
Phone:
717-845-3601
   FOR IMMEDIATE RELEASE

THE YORK WATER COMPANY REPORTS 2016 ANNUAL AND FOURTH QUARTER RESULTS

York, Pennsylvania, March 7, 2017:
  The York Water Company's (NASDAQ:YORW) President, Jeffrey R. Hines, announced today the Company's 2016 earnings.

President Hines reported that annual operating revenues for 2016 increased $495,000, and that net income decreased $643,000 when compared to 2015.  Higher operating revenues were primarily due to growth in the customer base, mainly due to acquisitions; and additionally due to higher billing and collection services income.  Net income declined primarily due to a lower volume of asset improvements eligible for the tax deduction under the IRS tangible property regulations which resulted in higher income taxes.  Higher depreciation expense, and higher retirement expenses added to the decline in net income in 2016.  Basic and Diluted Earnings per share for 2016 were $0.05 lower than 2015 and dividends per share rose by $0.0227 compared to 2015.

During the year, the Company invested $13.2 million in capital projects for further upgrades to water treatment facilities, information and communication technology, and the commencement of construction on an additional water pumping station and force main, as well as for routine items and replacements of infrastructure. During 2016, the Company replaced or relined over 42,000 feet of pipe to improve its distribution system, reduce ongoing expenses, and improve customer service.

President Hines also reported that operating revenues for the fourth quarter of 2016 increased $268,000, but that net income declined by $574,000 compared to the fourth quarter of 2015.  The decrease in fourth quarter net income also resulted from higher income taxes due to a lower volume of asset improvements eligible for a tax deduction and higher retirement expenses.  Basic and Diluted Earnings per share for the fourth quarter of 2016 were $0.04 lower than the fourth quarter of 2015.

President Hines reported that York Water plans to invest approximately $22.8 million in 2017 and $15.6 million in 2018, for completion of a new untreated water pumping station and force main, system expansion, the start of a dam upgrade project, and improvements to its pipes and other facilities to ensure a safe, adequate, and reliable supply of drinking water and to maintain proper handling and disposal of wastewater for the Company's growing customer base.

   
Period Ended December 31
 
   
In 000's (except share and per share)
 
   
Quarter
   
Twelve Months
 
   
2016
   
2015
   
2016
   
2015
 
Operating Revenues
 
$
11,885
   
$
11,617
   
$
47,584
   
$
47,089
 
Net Income
 
$
2,942
   
$
3,516
   
$
11,846
   
$
12,489
 
Average Number of Common Shares Outstanding
   
12,863
     
12,794
     
12,846
     
12,832
 
Basic and Diluted Earnings Per Common Share
 
$
0.23
   
$
0.27
   
$
0.92
   
$
0.97
 
Dividends Declared Per Common Share
 
$
0.1602
   
$
0.1555
   
$
0.6267
   
$
0.6040
 

In January 2017, the Company closed on its acquisition of the water assets of Stockham's Village, and in February 2017, the Company closed on its acquisition of the wastewater assets of West York Borough.  The water acquisition added approximately 80 customers, and the wastewater acquisition added approximately 1,700 customers, representing more than 2,200 units and making this the largest acquisition in the Company's history.

This news release may contain forward-looking statements regarding the Company's operational and financial expectations. These statements are based on currently available information and are subject to risks, uncertainties, and other events which could cause the Company's actual results to be materially different from the results described in this statement. The Company undertakes no duty to update any forward-looking statement.


The following information was filed by York Water Co (YORW) on Tuesday, March 7, 2017 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.

View differences made from one year to another to evaluate York Water Co's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by York Water Co.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account