The oldest company in the city and county of York, 200-year-old York Water Co., is showing no signs of slowing down.
York Water on Thursday announced plans to buy a small privately owned water system in Adams County and begin service to the coverage area in early 2017.
The water system serves Stockham’s Village Mobile Home Park, in Reading Township, the water company said.
The purchase is contingent on approval by the state Public Utility Commission and other regulators, water company President Jeffrey Hines said Thursday.
The York-based water company already serves seven municipalities in Adams County, and expects to start serving Stockham’s Village’s 80 customers through an interconnection with its current distribution system in early 2017.
Hines declined to discuss financial details until the purchase is finalized.
The company on Thursday also announced operating revenues for the first nine months of the year of $35.6 million, an increase of $227,000 over the same period in 2015. The increase stemmed from the addition of nearly 1,000 new customers and higher service revenues.
The company’s net income was $8.9 million, a decrease of $69,000 compared to the first nine months of 2015.
Third-quarter 2016 operating revenues, around $12.6 million, increased by $233,000. Net income rose to nearly $3.6 million, up $51,000 compared to the third quarter of 2015, the company said.
York Water, which has more than 100 employees, is the oldest investor-owned water utility in the U.S., and has been a publicly traded company since 1816, making it the oldest such company listed on any major exchange.
It serves nearly 200,000 people in 48 municipalities in York and Adams counties.
