$ARTNA
ARTESIAN RESOURCES CORP

2021 Q1 Form 10-Q Financial Statement

#000086311021000010 Filed on May 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q4 2020 Q1
Revenue $20.65M $21.75M $19.90M
YoY Change 3.74% 3.54% 2.66%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.012M $2.860M $2.752M
YoY Change 9.45% 6.72% 1.36%
% of Gross Profit
Operating Expenses $16.20M $15.91M $15.44M
YoY Change 4.95% 4.4% 2.23%
Operating Profit $4.442M $4.462M
YoY Change -0.45% 4.15%
Interest Expense $1.882M -$1.930M $1.899M
YoY Change -0.9% 7.82% 10.41%
% of Operating Profit 42.37% 42.56%
Other Income/Expense, Net $1.402M $200.0K $1.088M
YoY Change 28.86% -31.03% 36.0%
Pretax Income $6.088M $4.120M $5.973M
YoY Change 1.93% -3.74% 12.49%
Income Tax $1.351M $1.000M $1.359M
% Of Pretax Income 22.19% 24.27% 22.75%
Net Earnings $4.206M $3.110M $4.074M
YoY Change 3.24% 0.32% 13.48%
Net Earnings / Revenue 20.37% 14.3% 20.47%
Basic Earnings Per Share $0.45 $0.33 $0.44
Diluted Earnings Per Share $0.45 $0.33 $0.44
COMMON SHARES
Basic Shares Outstanding 9.368M 9.297M
Diluted Shares Outstanding 9.407M 9.343M

Balance Sheet

Concept 2021 Q1 2020 Q4 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $200.0K $0.00 $300.0K
YoY Change -33.33% -100.0% 0.0%
Cash & Equivalents $200.0K $28.00K $330.0K
Short-Term Investments
Other Short-Term Assets $4.200M $5.300M $4.300M
YoY Change -2.33% -1.85% -2.27%
Inventory $1.400M $1.500M $1.300M
Prepaid Expenses
Receivables $8.800M $10.16M $6.734M
Other Receivables $0.00 $600.0K $0.00
Total Short-Term Assets $14.60M $17.62M $12.68M
YoY Change 15.15% 24.02% -3.95%
LONG-TERM ASSETS
Property, Plant & Equipment $571.6M $3.796M $3.793M
YoY Change 14969.87% -0.42% -99.25%
Goodwill $623.0K
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $12.10M $5.309M $4.666M
YoY Change 159.32% 24.71% -59.07%
Total Long-Term Assets $583.8M $575.6M $552.9M
YoY Change 5.59% 5.39% 6.21%
TOTAL ASSETS
Total Short-Term Assets $14.60M $17.62M $12.68M
Total Long-Term Assets $583.8M $575.6M $552.9M
Total Assets $598.4M $593.2M $565.6M
YoY Change 5.8% 5.86% 5.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.000M $6.341M $6.597M
YoY Change -9.05% -22.44% 34.63%
Accrued Expenses $8.200M $3.414M $2.708M
YoY Change 202.81% 9.67% -53.31%
Deferred Revenue $2.060M $1.970M
YoY Change 4.57%
Short-Term Debt $22.70M $26.90M $8.700M
YoY Change 160.92% 258.67% -54.21%
Long-Term Debt Due $1.700M $1.757M $1.800M
YoY Change -5.56% 2.99% 0.0%
Total Short-Term Liabilities $44.20M $43.72M $27.92M
YoY Change 58.29% 70.8% -31.05%
LONG-TERM LIABILITIES
Long-Term Debt $141.9M $142.3M $143.6M
YoY Change -1.16% -1.26% 24.4%
Other Long-Term Liabilities $191.3M $187.4M $180.8M
YoY Change 5.81% 5.22% 7.24%
Total Long-Term Liabilities $333.2M $77.48M $79.29M
YoY Change 320.23% -4.19% -72.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $44.20M $43.72M $27.92M
Total Long-Term Liabilities $333.2M $77.48M $79.29M
Total Liabilities $426.5M $121.2M $107.2M
YoY Change 297.81% 13.84% -71.69%
SHAREHOLDERS EQUITY
Retained Earnings $56.61M $50.92M
YoY Change 15.13%
Common Stock $9.357M $9.302M
YoY Change 0.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $171.9M $169.4M $162.4M
YoY Change
Total Liabilities & Shareholders Equity $598.4M $593.2M $565.6M
YoY Change 5.8% 5.86% 5.95%

Cashflow Statement

Concept 2021 Q1 2020 Q4 2020 Q1
OPERATING ACTIVITIES
Net Income $4.206M $3.110M $4.074M
YoY Change 3.24% 0.32% 13.48%
Depreciation, Depletion And Amortization $3.012M $2.860M $2.752M
YoY Change 9.45% 6.72% 1.36%
Cash From Operating Activities $13.32M $6.060M $7.129M
YoY Change 86.84% 6.13% -6.46%
INVESTING ACTIVITIES
Capital Expenditures -$9.350M -$8.320M $9.212M
YoY Change -201.5% -37.63% 1.48%
Acquisitions
YoY Change
Other Investing Activities $10.00K $10.00K $30.00K
YoY Change -66.67% 0.0% 200.0%
Cash From Investing Activities -$9.340M -$8.300M -$9.182M
YoY Change 1.72% -37.73% 1.3%
FINANCING ACTIVITIES
Cash Dividend Paid $2.319M
YoY Change 3.48%
Common Stock Issuance & Retirement, Net $286.0K
YoY Change -27.59%
Debt Paid & Issued, Net $510.0K
YoY Change 25.0%
Cash From Financing Activities -3.760M 2.030M 1.787M
YoY Change -310.41% -73.84% 26.29%
NET CHANGE
Cash From Operating Activities 13.32M 6.060M 7.129M
Cash From Investing Activities -9.340M -8.300M -9.182M
Cash From Financing Activities -3.760M 2.030M 1.787M
Net Change In Cash 220.0K -210.0K -266.0K
YoY Change -182.71% -250.0% 850.0%
FREE CASH FLOW
Cash From Operating Activities $13.32M $6.060M $7.129M
Capital Expenditures -$9.350M -$8.320M $9.212M
Free Cash Flow $22.67M $14.38M -$2.083M
YoY Change -1188.33% -24.51% 42.96%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q1 dei Entity Central Index Key
EntityCentralIndexKey
0000863110
CY2021Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2021Q1 dei Amendment Flag
AmendmentFlag
false
CY2021Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
CY2021Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
20736000
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
19901000
CY2021Q1 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
9596000
CY2020Q1 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
9235000
CY2021Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
915000
CY2020Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
728000
CY2021Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3012000
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2752000
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1351000
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1359000
CY2021Q1 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
1420000
CY2020Q1 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
1365000
CY2021Q1 us-gaap Operating Expenses
OperatingExpenses
16294000
CY2020Q1 us-gaap Operating Expenses
OperatingExpenses
15439000
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
4442000
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
4462000
CY2021Q1 us-gaap Public Utilities Allowance For Funds Used During Construction Additions
PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions
244000
CY2020Q1 us-gaap Public Utilities Allowance For Funds Used During Construction Additions
PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions
423000
CY2021Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1402000
CY2020Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1088000
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
6088000
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
5973000
CY2021Q1 us-gaap Interest Expense
InterestExpense
1882000
CY2020Q1 us-gaap Interest Expense
InterestExpense
1899000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
4206000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
4074000
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.45
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.44
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.45
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.44
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9368000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9297000
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9407000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9343000
CY2021Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.2571
CY2020Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.2496
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
160268000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
4074000
CY2020Q1 us-gaap Dividends Common Stock
DividendsCommonStock
2319000
CY2020Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
108000
CY2020Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
134000
CY2020Q1 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
89000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
162354000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
169426000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
4206000
CY2021Q1 us-gaap Dividends Common Stock
DividendsCommonStock
2406000
CY2021Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
98000
CY2021Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
460000
CY2021Q1 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
86000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
171870000
CY2021Q1 artna Minimum Number Of Days Due For Accounts Receivable From Regulated Contract Customers
MinimumNumberOfDaysDueForAccountsReceivableFromRegulatedContractCustomers
P25D
CY2021Q1 artna Minimum Number Of Days Due For Accounts Receivable From Service Line Protection Plan Customer
MinimumNumberOfDaysDueForAccountsReceivableFromServiceLineProtectionPlanCustomer
P25D
CY2021Q1 artna Minimum Number Of Days Customers Services Invoiced In Advance
MinimumNumberOfDaysCustomersServicesInvoicedInAdvance
P30D
CY2021Q1 artna Other Operating Revenue Not In Scope Of Asc606
OtherOperatingRevenueNotInScopeOfASC606
379000
CY2020Q1 artna Other Operating Revenue Not In Scope Of Asc606
OtherOperatingRevenueNotInScopeOfASC606
291000
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
20736000
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
19901000
CY2021Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1347000
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1450000
CY2021Q1 artna Percentage Of Lessee Operating Lease Increase In Annual Lease Payments
PercentageOfLesseeOperatingLeaseIncreaseInAnnualLeasePayments
0.03
CY2021Q1 us-gaap Operating Leases Rent Expense Minimum Rentals
OperatingLeasesRentExpenseMinimumRentals
7000
CY2020Q1 us-gaap Operating Leases Rent Expense Minimum Rentals
OperatingLeasesRentExpenseMinimumRentals
7000
CY2021Q1 us-gaap Operating Leases Rent Expense Contingent Rentals
OperatingLeasesRentExpenseContingentRentals
0
CY2020Q1 us-gaap Operating Leases Rent Expense Contingent Rentals
OperatingLeasesRentExpenseContingentRentals
0
CY2021Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
7000
CY2020Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
7000
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
7000
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
7000
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
455000
CY2020Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
474000
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
455000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
460000
CY2021Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
20000
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
20000
CY2021Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
427000
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
432000
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
447000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
452000
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P59Y
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P59Y
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.036
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.050
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1439000
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
992000
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
447000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
42000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
23000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
23000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
23000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
24000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
1304000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9368000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9297000
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
39000
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
46000
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9407000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9343000

Files In Submission

Name View Source Status
0000863110-21-000010-index-headers.html Edgar Link pending
0000863110-21-000010-index.html Edgar Link pending
0000863110-21-000010.txt Edgar Link pending
0000863110-21-000010-xbrl.zip Edgar Link pending
artna-20210331.xsd Edgar Link pending
artna-20210331_cal.xml Edgar Link unprocessable
artna-20210331_def.xml Edgar Link unprocessable
artna-20210331_lab.xml Edgar Link unprocessable
artna-20210331_pre.xml Edgar Link unprocessable
exhibit31-1.htm Edgar Link pending
exhibit31-2.htm Edgar Link pending
exhibit32.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
form10q.htm Edgar Link pending
form10q_htm.xml Edgar Link completed
image00018.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending