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California Water Service Group T.CWT.R


Primary Symbol: CWT

California Water Service Group is a holding company that provides water utility and other related services in California, Washington, New Mexico, Hawaii and Texas through its subsidiaries. Its business is conducted through its operating subsidiaries and provides utility services. Its business consists of the production, purchase, storage, treatment, testing, distribution, and sale of water for domestic, industrial, public, and irrigation uses, and the provision of domestic and municipal fire protection services. It provides wastewater collection and treatment services, including treatment which allows water recycling. It also provides non-regulated water-related services under agreements with municipalities and other private companies. The non-regulated services include full water system operation, meter reading, and billing services. Non-regulated operations also include the lease of communication antenna sites, lab services and promotion of other non-regulated services.


NYSE:CWT - Post by User

Post by carswellon Nov 03, 2010 11:27pm
501 Views
Post# 17654993

Q3 Highlights

Q3 Highlights

Highlights of the quarter

  • Issued $266-million in new trust units;
  • Acquired two income properties for $129.9-million;
  • Invested $40.7-million to complete the development and lease up of 153,879 square feet;
  • Portfolio occupancy rate increased to 99.2 per cent;
  • Negotiated renewals of 279,500 square feet with an average rent increase of 8.4 per cent;
  • Net income increased by $3.7-million (three cents per unit) to $10.5-million (10 cents per unit)(1) compared with the same period in 2009;
  • Funds from operations (non-GAAP (generally accepted accounting principles) measure) increased by $4.1-million to $43.4-million(1) compared with the same period in 2009.

(1) Excludes the effect of the $31.6-million expense booked as a result of the redemption of the Series C senior unsecured debentures

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