UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of the Securities Exchange Act of 1934


Date of Report: November 6, 2015
(Date of earliest event reported)


THE YORK WATER COMPANY
(Exact name of registrant as specified in its charter)


PENNSYLVANIA
001-34245
23-1242500
(State or other jurisdiction
(Commission
(I.R.S. Employer
of incorporation)
File Number)
Identification No.)
 
130 EAST MARKET STREET
YORK, PENNSYLVANIA
 
17401
(Address of principal executive offices)
(Zip Code)

(717) 845-3601
(Registrant's telephone number, including area code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
THE YORK WATER COMPANY


Item 2.02
Results of Operations and Financial Condition.


On November 6, 2015, The York Water Company issued a press release announcing its third quarter and first nine months of 2015 financial results.  The press release is being furnished with this Current Report on Form 8-K Exhibit 99.1 and is hereby incorporated herein by reference.  This report (including the exhibit) shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference in any filing made by the Registrant pursuant to the Securities Act of 1933, as amended, other than to the extent that such filing incorporates by reference any or all of such information by express reference thereto.


Item 9.01
Financial Statements and Exhibits.
   
(c) Exhibits.
  
   
Exhibit No.
Description of Exhibit
   

THE YORK WATER COMPANY


SIGNATURES



Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.



 
THE YORK WATER COMPANY
   
   
 
/s/Kathleen M. Miller
Date: November 6, 2015
Kathleen M. Miller
 
Chief Financial Officer




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

YORK WATER COMPANY REPORTS 3rd QUARTER AND NINE MONTHS EARNINGS

York, Pennsylvania, November 6, 2015:  The York Water Company's (NASDAQ:YORW) President, Jeffrey R. Hines, announced today the Company's financial results for the third quarter and the first nine months of 2015.

President Hines reported that third quarter operating revenues of $12,368,000 increased $306,000 and net income of $3,520,000 increased $455,000 compared to the third quarter of 2014.  Earnings per share of $0.28 for the three-month period increased $0.05 compared to the same period last year.  Higher revenues, lower income taxes and controlled expenses caused the increase in net income.

President Hines also reported that the first nine months operating revenues of $35,472,000 increased $1,071,000, and net income of $8,973,000 increased $1,040,000 compared to the first nine months of 2014.  Higher revenues were due to an increase in rates as approved by the Pennsylvania Public Utility Commission effective February 28, 2014, an interconnection with a neighboring municipality to provide water due to an emergency event, and increases in the number of water and wastewater customers.  The increased revenues, along with lower income taxes resulting from increased deductions of tangible property expenditures, offset higher operating expenses primarily for depreciation, chemicals, pension, and maintenance. Earnings per share for the nine-month period were $0.09 higher than the same period in 2014.

During the first nine months of 2015, the Company invested $10.3 million in construction expenditures for expansion of its service territory, upgrades to water treatment facilities, replacement and improvement of a portion of its infrastructure and other routine items.  In addition, the Company invested $94,000 in the acquisition of water facilities.  The Company estimates it will invest an additional $2.5 million in 2015, excluding acquisitions, for improvements to its pipes, filtration system, facilities, and dams 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 September 30
  
   
In 000's (except per share)
  
   
Quarter
    
Nine Months
  
   
2015
    
2014
    
2015
    
2014
  
Operating Revenues
  
$
12,368
    
$
12,062
    
$
35,472
    
$
34,401
  
Net Income
  
$
3,520
    
$
3,065
    
$
8,973
    
$
7,933
  
Average Number of Common Shares Outstanding
    
12,835
      
12,824
      
12,844
      
12,903
  
Basic Earnings Per Common Share
  
$
0.28
    
$
0.23
    
$
0.70
    
$
0.61
  
Dividends Declared Per Common Share
  
$
0.1495
    
$
0.1431
    
$
0.4485
    
$
0.4293
  


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.

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