American States Water Company (AWR) has reported a 25.13 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $12.70 million, or $0.34 a share in the quarter, compared with $10.15 million, or $0.28 a share for the same period last year. Revenue during the quarter grew 5.65 percent to $98.81 million from $93.53 million in the previous year period. Gross margin for the quarter contracted 129 basis points over the previous year period to 66.22 percent. Total expenses were 74.96 percent of quarterly revenues, down from 77.30 percent for the same period last year. This has led to an improvement of 233 basis points in operating margin to 25.04 percent.
Operating income for the quarter was $24.74 million, compared with $21.23 million in the previous year period.
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