Clinton-based Connecticut Water Service said Tuesday its second-quarter profits dropped 15 percent, in part due to recent acquisition costs.
In the quarter ended June 30, the utility’s net income was $8.4 million, or 75 cents a share, compared to $9.9 million, or 90 cents a share in the year ago period.
Results reflected acquisition and corporate development costs associated with the $34 million purchase in July of the Avon Water Co., which added 4,800 new customers.
Revenue totaled $29.5 million in the second quarter, an increase compared to $27.6 million a year ago.
During the recent quarter, Connecticut Water’s new $30 million Rockville water treatment facility went into service, serving the company’s customers in north-central Connecticut.
