Connecticut Water Service Co.’s Maine system helped fill the Clinton utility’s profit bucket in the first quarter.
For three months ended March 31, CT Water said Thursday it netted $2.6 million, or 24 cents a diluted share, up from $1.9 million, or 22 cents a share, netted the same quarter last year.
First-quarter revenues were $21.5 million vs. $20.2 million a year ago.
Last December, CT Water closed on its $12 million, all-stock buyout of Maine’s Biddeford & Sacco Water Co., adding to its previous purchase of the Aqua Maine water network previously owned by Aqua America.
President and CEO Eric W. Thornburg said the focus now is on integrating Biddeford and Aqua Maine into a seamless system, sharing staff, resources, information technology and anything else to maximize efficiency and trim overhead.
CT Water claims to be New England’s largest publicly traded water company, serving nearly 122,000 customers, or about 400,000 people, throughout Connecticut and Maine.
