Middlesex Water Company (MSEX) has reported 7.29 percent fall in profit for the quarter ended Mar. 31, 2017. The company has earned $4.44 million, or $0.27 a share in the quarter, compared with $4.79 million, or $0.29 a share for the same period last year.

Revenue during the quarter went down marginally by 1.47 percent to $30.13 million from $30.58 million in the previous year period. Total expenses were 74.18 percent of quarterly revenues, up from 72.85 percent for the same period last year. That has resulted in a contraction of 133 basis points in operating margin to 25.82 percent.

Operating income for the quarter was $7.78 million, compared with $8.30 million in the previous year period.

Middlesex chairman, president and chief executive officer Dennis W. Doll said, "Water consumption in the first quarter of any year is generally moderate in the absence of outdoor usage, and subject to small variations that impact operating revenues. Increases in depreciation, labor and numerous other operating costs are not impacted by seasonality. Drought warnings in our New Jersey systems were recently lifted and we are poised to meet our customers’ water consumption needs as warmer weather approaches. We continue to closely monitor our revenues and costs to determine the timing of any potential rate filings in both our New Jersey and Delaware regulated utilities."