<SEC-DOCUMENT>0001157523-16-007207.txt : 20161102
<SEC-HEADER>0001157523-16-007207.hdr.sgml : 20161102
<ACCEPTANCE-DATETIME>20161102164542
ACCESSION NUMBER:		0001157523-16-007207
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20161102
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20161102
DATE AS OF CHANGE:		20161102

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN STATES WATER CO
		CENTRAL INDEX KEY:			0001056903
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER SUPPLY [4941]
		IRS NUMBER:				954676679
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14431
		FILM NUMBER:		161968628

	BUSINESS ADDRESS:	
		STREET 1:		630 E FOOTHILL BLVD
		CITY:			SAN DIMAS
		STATE:			CA
		ZIP:			91773-9016
		BUSINESS PHONE:		9093943600

	MAIL ADDRESS:	
		STREET 1:		630 E FOOTHILL
		CITY:			SAN DIMAS
		STATE:			CA
		ZIP:			91773-9016
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51452544.htm
<DESCRIPTION>AMERICAN STATES WATER COMPANY 8-K
<TEXT>
<html>
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    <title></title>
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    <p style="text-align: center">
      <font style="font-size: 12pt"><b>UNITED STATES</b></font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt"><b>Washington,
      D.C. 20549</b></font>
    </p>
    <p style="text-align: center">

    </p>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-size: 18pt"><b>Form 8-K</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt"><b>CURRENT REPORT</b></font>
    </p>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt"><b>Pursuant to Section 13 or 15(d) of the
      Securities Exchange Act of 1934</b></font>
    </p>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt"><b>Date of Report (Date of earliest event
      reported) November 2, 2016 </b></font>
    </p>
    <p>

    </p>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-size: 16pt"><b>AMERICAN STATES WATER COMPANY</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt"><b>(Exact name of registrant as specified
      in its charter)</b></font>
    </p>
    <p>

    </p>
    <p>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-family: Times New Roman; width: 100%; font-size: 8pt">
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 12pt"><b>California</b></font>
          </p>
        </td>
        <td style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 12pt"><b>001-14431</b></font>
          </p>
        </td>
        <td style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 12pt"><b>95-4676679</b></font>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 12pt">(State or other jurisdiction of</font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt">incorporation
            or organization)</font>
          </p>
        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 12pt">(Commission File Number)</font>
          </p>
        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 12pt">(I.R.S. Employer Identification</font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt">No.)</font>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 12pt"><b>630 East Foothill Blvd.</b></font>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 12pt"><b>San Dimas, California</b></font>
          </p>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 12pt"><b>91773</b></font>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 12pt">(Address of principal executive</font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt">offices)</font>
          </p>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 12pt">(Zip Code)</font>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="3" style="text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 12pt"><b>Registrant&#8217;s telephone number,
            including area code: (909) 394-3600</b></font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
    <hr style="text-align: center; height: 1.0 pt; width: 100%; color: #000000">


    <p>

    </p>
    <p style="text-align: justify">
      <font style="font-size: 12pt"><b>Check the appropriate box below if the
      Form 8-K filing is intended to simultaneously satisfy the filing
      obligation of the registrant under any of the following provisions (</b></font><b><i><font style="font-size: 12pt">see</font></i><font style="font-size: 12pt">
      General Instruction A.2 below):</font></b><br>
    </p>
    <p>
      <font style="font-size: 12pt; font-family: Arial Unicode MS">&#8414;</font><b>
      <font style="font-size: 12pt">Written communications pursuant to Rule
      425 under the Securities Act (17 CFR 230.425)</font></b><br><font style="font-size: 12pt; font-family: Arial Unicode MS">&#8414;</font><b>
      <font style="font-size: 12pt">Soliciting material pursuant to Rule
      14a-12 under the Exchange Act (17 CFR 14a-12)</font></b><br><font style="font-size: 12pt; font-family: Arial Unicode MS">&#8414;</font><b>
      <font style="font-size: 12pt">Pre-commencement communications pursuant
      to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></b><br><font style="font-size: 12pt; font-family: Arial Unicode MS">&#8414;</font><font style="font-size: 12pt">
      </font><font style="font-size: 12pt"><b>Pre-commencement communications
      pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</b></font>
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">
      <font style="font-size: 12pt"><b>Section 2-Financial Information</b></font><br><br>
    </p>
    <p style="white-space: nowrap">
      <font style="font-size: 12pt"><b>Item 2.02. </b></font><font style="font-size: 12pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-size: 12pt"><b>Results
      of Operations and Financial Condition</b></font><br><br>
    </p>
    <p style="text-align: justify">
      <font style="font-size: 12pt">On November 2, 2016, American States Water
      Company released earnings for the third quarter ended
      September&#160;30,&#160;2016.&#160;&#160;A copy of the Company&#8217;s press release is attached
      hereto as Exhibit 99.1.</font><br><br><font style="font-size: 12pt">This
      Form 8-K and the attached exhibit are furnished to, but not filed with,
      the Securities and Exchange Commission.</font>
    </p>
    <p style="text-align: justify">

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-family: Times New Roman; width: 100%; font-size: 8pt">
      <tr>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <font style="font-size: 12pt"><b>Section 9-Financial Statements and
      Exhibits</b></font><br><br>
    </p>
    <p style="white-space: nowrap">
      <font style="font-size: 12pt"><b>Item 9.01.</b></font><font style="font-size: 12pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-size: 12pt"><b>Financial
      Statements and Exhibits</b></font><br><br>
    </p>
    <p>
      <font style="font-size: 12pt">The following exhibit is furnished
      hereunder:</font><br><br>
    </p>
    <p style="white-space: nowrap">
      <font style="font-size: 12pt">Exhibit 99.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Press Release dated
      November 2, 2016</font>
    </p>
    <p>

    </p>
    <hr style="text-align: center; height: 1.0 pt; width: 100%; color: #000000">


    <p>

    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt"><b>SIGNATURES</b></font>
    </p>
    <p style="text-align: center">

    </p>
    <p>
      <font style="font-size: 12pt">Pursuant to the requirements of the
      Securities Exchange Act of 1934, the registrant has duly caused this
      report to be signed on its behalf by the undersigned hereunto duly
      authorized.</font>
    </p>
    <p>

    </p>
    <p>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-family: Times New Roman; width: 100%; font-size: 8pt">
      <tr>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 12pt"><b>AMERICAN STATES WATER COMPANY</b></font>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 12pt">November 2, 2016</font>
          </p>
        </td>
        <td style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 12pt">/s/ Eva G. Tang</font>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 12pt">Eva G. Tang</font>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 12pt">Senior Vice President-Finance, Chief
            Financial</font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt">Officer,
            Corporate Secretary and Treasurer</font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-family: Times New Roman; width: 100%; font-size: 8pt">
      <tr>
        <td style="border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black" valign="bottom">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <font style="font-size: 12pt"><b>EXHIBIT INDEX</b></font>
    </p>
    <p>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-family: Times New Roman; width: 100%; font-size: 10pt">
      <tr>
        <td style="text-align: left; padding-left: 0.0px; width: 10%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><font style="font-size: 12pt"><b>Exhibit No.</b></font></u>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 90%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><font style="font-size: 12pt"><b>Description</b></font></u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; width: 10%; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 12pt">99.1</font>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 90%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 12pt">Press Release dated November 2, 2016</font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>

    </p>
  </body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51452544ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p>
      <font style="font-size: 12pt; font-family: Times New Roman"><b>American
      States Water Company Reports Financial Results for the Third Quarter of
      2016</b></font>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Diluted
        earnings per share increased to&#160;$0.59&#160;vs.&#160;$0.56&#160;in 2015</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Quarterly
        cash dividend increase of 8 percent, to $0.242 per share</b></font>
      </li>
    </ul>
    <p>
      SAN DIMAS, Calif.--(BUSINESS WIRE)--November 2, 2016--American States
      Water Company (NYSE:AWR) today reported basic and fully diluted earnings
      per share of $0.59 for the quarter ended September&#160;30, 2016, as compared
      to basic and fully diluted earnings per share of $0.57 and $0.56,
      respectively, for the quarter ended September&#160;30, 2015.
    </p>
    <p>
      <b>Third Quarter 2016 Results</b>
    </p>
    <p>
      The table below sets forth a comparison of the third quarter diluted
      earnings per share by business segment, as reported:
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-family: Times New Roman; width: 100%; font-size: 8pt">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="14" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black" valign="bottom">
          <b>Diluted Earnings per Share</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="9" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black" valign="bottom">
          <b>Three Months Ended</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="4">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="4" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          <b>9/30/2016</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="4" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          <b>9/30/2015</b>
        </td>
        <td>

        </td>
        <td colspan="4" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black" valign="bottom">
          <b>CHANGE</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Water
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.47
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.43
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.04
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Electric
        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.02
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.01
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.01
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          Contracted services
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          0.10
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          0.12
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          (0.02
        </td>
        <td style="border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          Consolidated diluted earnings per share, as reported
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          0.59
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          0.56
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          0.03
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <u>Water</u>
    </p>
    <p>
      For the three months ended September&#160;30, 2016, diluted earnings from
      Golden State Water Company&#8217;s (&#8220;GSWC&#8217;s&#8221;) water segment increased by $0.04
      per share to $0.47 as compared to the same period in 2015 due to: (i) an
      increase in the water margin due to higher revenues from customers that
      do not have conservation rates as a result of increased water
      consumption, as well as new revenues generated from a water system
      acquired in October 2015, (ii) an increase in interest and other income
      due primarily to higher gains on investments held for a retirement
      benefit plan, and (iii) a decrease in the effective income tax rate due
      to differences between book and taxable income that are treated as
      flow-through adjustments in accordance with regulatory requirements.
    </p>
    <p>
      Billed water consumption for the third quarter of 2016 increased by
      approximately 12% as compared to the same period in 2015. In general,
      changes in consumption do not have a significant impact on recorded
      revenues due to the California Public Utilities Commission (&#8220;CPUC&#8221;)
      approved Water Revenue Adjustment Mechanism (&quot;WRAM&quot;) accounts in place
      at all three water regions. The WRAM only applies to customer classes
      with conservation rates in place. The majority of GSWC's water customers
      have conservation rate structures; however, a small percentage of GSWC's
      customers are not subject to conservation rates and changes in
      consumption will impact recorded revenues.
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Pending a decision from the CPUC to set water rates for 2016-2018,
      billed water revenues for 2016 have been based on 2015 adopted rates
      established in the prior rate case. Once the CPUC issues a final
      decision in the current water rate case, the adopted revenues for 2016
      will be retroactive to January 1, 2016, and are expected to be lower
      than the 2015 adopted levels due primarily to decreases in: (i) supply
      costs caused by lower consumption, (ii) depreciation expense resulting
      from an updated depreciation study, and (iii) other operating expenses.
      As a result of the anticipated reduction in the 2016 adopted revenue
      level, GSWC has adjusted its water revenues downward with corresponding
      reductions in supply costs, depreciation expense and certain other
      expenses. These adjustments did not have a significant impact on overall
      pretax operating income for the three months ended September 30, 2016. A
      proposed decision from the CPUC is expected during the fourth quarter of
      2016.
    </p>
    <p>
      <u>Electric</u>
    </p>
    <p>
      For the three months ended September&#160;30, 2016, diluted earnings from the
      electric segment increased by $0.01 per share as compared to the same
      period in 2015. The electric gross margin was slightly higher for the
      quarter due to CPUC-approved fourth-year rate increases effective
      January 1, 2016, and rate increases generated from advice letter filings
      approved by the CPUC during 2016 and 2015. There was also an overall
      decrease in operating expenses due to lower spending associated with a
      solar-initiative program approved by the CPUC as compared to the third
      quarter of 2015.
    </p>
    <p>
      <u>Contracted Services</u>
    </p>
    <p>
      For the three months ended September&#160;30, 2016, diluted earnings from the
      contracted services segment were $0.10 per share as compared to $0.12
      per share for the same period in 2015. During the third quarter of 2015,
      there was $3.5 million, or approximately $0.05 per diluted share, in
      retroactive management fee revenues recorded resulting from the
      successful resolution of price redeterminations during the third quarter
      of 2015, with no similar retroactive revenues recorded during the third
      quarter of 2016. There was also an increase in the allocation of
      administrative and general expenses from GSWC to the contracted services
      segment during the third quarter of 2016 as stipulated in the pending
      water GRC, and an increase in outside services costs. These decreases to
      pretax operating income were partially offset by an overall increase in
      construction activity and improved cost efficiencies.
    </p>
    <p>
      <b>Year-to-Date 2016 Results</b>
    </p>
    <p>
      Basic and fully diluted earnings per share were $1.32 for the nine
      months ended September&#160;30,&#160;2016 as compared to $1.29 per basic and
      diluted share for the same period in 2015. The table below sets forth a
      comparison of the year-to-date diluted earnings per share by business
      segment, as reported:
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-family: Times New Roman; width: 100%; font-size: 8pt">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="14" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black" valign="bottom">
          <b>Diluted Earnings per Share</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="9" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black" valign="bottom">
          <b>Nine Months Ended</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="4">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="4" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          <b>9/30/2016</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="4" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          <b>9/30/2015</b>
        </td>
        <td>

        </td>
        <td colspan="4" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black" valign="bottom">
          <b>CHANGE</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Water
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1.04
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1.00
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.04
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Electric
        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.06
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.05
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.01
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Contracted services
        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.20
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.22
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (0.02
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          AWR (parent)
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          0.02
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          0.02
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="3" style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          &#8212;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="bottom">
          Consolidated diluted earnings per share, as reported
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          1.32
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          1.29
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          0.03
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <u>Water</u>
    </p>
    <p>
      For the nine months ended September&#160;30, 2016, diluted earnings from the
      water segment increased by $0.04 per share to $1.04 as compared to the
      same period in 2015. Favorably impacting earnings per share at the water
      segment were: (i) a higher water margin resulting from the recognition
      of a portion of the 2015 WRAM revenues that had previously been
      deferred, as well as new revenues generated from a water system acquired
      in October 2015, (ii) the cumulative impact of lower Common Shares
      outstanding resulting from the repurchase of stock pursuant to the stock
      repurchase programs, and (iii) a decrease in the effective income tax
      rate for the water segment due to differences between book and taxable
      income that are treated as flow-through adjustments in accordance with
      regulatory requirements. These increases to the water segment's diluted
      earnings per share were partially offset by increases in: (i)
      administrative and general expenses resulting from higher legal and
      outside services costs related to condemnation matters, and (ii) other
      operation expense related to water treatment activities.
    </p>
    <p>
      <u><i>Electric Segment:</i></u>
    </p>
    <p>
      For the nine months ended September&#160;30, 2016, diluted earnings from the
      electric segment increased $0.01 per share to $0.06 as compared to the
      same period in 2015. There was an increase in the electric gross margin
      resulting from CPUC approval of fourth-year rate increases effective
      January 1, 2016, as well as CPUC-approved rate increases generated from
      advice letter filings approved in 2015 and 2016. This increase was
      partially offset by an increase in operating expenses (other than supply
      costs) due to an increase in: (i)&#160;other operation expenses resulting
      from additional costs incurred in response to power outages caused by
      severe winter storms experienced in January 2016 and higher wages, and
      (ii) depreciation expense resulting from additions to utility plant.
    </p>
    <p>
      <u><i>Contracted Services Segment:</i></u>
    </p>
    <p>
      For the nine months ended September&#160;30, 2016, diluted earnings from the
      contracted services segment were $0.20 per share as compared to $0.22
      per share for the same period in 2015. During the nine months ended
      September 30, 2015, ASUS recorded $3.0 million, or $0.05 per diluted
      share, in retroactive management fee revenues as a result of successful
      resolution of price redeterminations during the third quarter of 2015,
      with no material retroactive revenues recorded during the nine months
      ended September&#160;30, 2016. There was also an increase in the allocation
      of administrative and general expenses from GSWC to the contracted
      services segment as stipulated in the pending water GRC, an increase in
      labor and outside services costs, and a higher effective income tax rate
      resulting primarily from an increase in state income taxes as compared
      to the same period in 2015. State income taxes vary among the
      jurisdictions in which the contracted services business operates. These
      decreases to pretax operating income were partially offset by an overall
      increase in construction activity and improved cost efficiencies.
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Regulatory Matters</b>
    </p>
    <p>
      GSWC is awaiting a proposed decision in its general rate case that will
      determine new rates for the years 2016-2018 at all of its water regions
      and the general office. At this time, a proposed decision is expected
      during the fourth quarter of 2016. GSWC has settled the majority of
      GSWC&#8217;s operating expenses with the CPUC&#8217;s Office of Ratepayer Advocates,
      as well as the consumption levels to be used to calculate rates for
      2016-2018, which reflect most of the 2015 conservation targets mandated
      by the State of California. The primary unresolved issues relate to
      GSWC&#8217;s capital budget requests and compensation for managerial level
      employees. At this time, GSWC cannot predict the final outcome of this
      general rate case. The final decision, once issued, will be retroactive
      to January 1, 2016 and could result in a material change to GSWC's net
      income recorded during the first nine months of 2016 that may need to be
      adjusted in the quarter that a proposed decision is issued.
    </p>
    <p>
      <b>Board Approves 8% Increase in Quarterly Dividend</b>
    </p>
    <p>
      On November 1, 2016, AWR's Board of Directors approved a fourth quarter
      dividend of $0.242 per share on the Common Shares of the Company. This
      represents an 8% increase over the third quarter 2016 dividend of $0.224
      per share. Dividends on the Common Shares will be payable on December 1,
      2016 to shareholders of record at the close of business on November&#160;15,
      2016. American States Water Company has paid dividends to shareholders
      every year since 1931, increasing the dividends received by shareholders
      each calendar year for 62 consecutive years, which places AWR in an
      exclusive group of companies on the New York Stock Exchange that have
      achieved that result.
    </p>
    <p>
      <b>Non-GAAP Financial Measures</b>
    </p>
    <p>
      This press release includes a discussion on the water and electric gross
      margins for various periods, which are computed by subtracting total
      supply costs from total revenues. The discussion also includes AWR&#8217;s
      operations in terms of diluted earnings per share by business segment,
      which is each business segment&#8217;s earnings divided by the Company&#8217;s
      weighted average number of diluted shares. These items are derived from
      consolidated financial information but are not presented in our
      financial statements that are prepared in accordance with Generally
      Accepted Accounting Principles (&#8220;GAAP&#8221;) in the United States. These
      items constitute &quot;non-GAAP financial measures&quot; under Securities and
      Exchange Commission rules.
    </p>
    <p>
      The non-GAAP financial measures supplement our GAAP disclosures and
      should not be considered as alternatives to the GAAP measures.
      Furthermore, the non-GAAP financial measures may not be comparable to
      similarly titled non-GAAP financial measures of other registrants. The
      Company uses the water and electric gross margins and earnings per share
      by business segment as important measures in evaluating its operating
      results and believes these measures are useful internal benchmarks in
      evaluating the performance of its operating segments. The Company
      reviews these measurements regularly and compares them to historical
      periods and to the operating budget.
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Forward Looking Statements</b>
    </p>
    <p>
      Certain matters discussed in this news release with regard to the
      Company&#8217;s expectations may be forward-looking statements that involve
      risks and uncertainties. The assumptions and risk factors that could
      cause actual results to differ materially include those described in the
      Company&#8217;s Form 10-Q for the quarter ended September&#160;30, 2016 filed with
      the Securities and Exchange Commission.
    </p>
    <p>
      <b>Third Quarter 2016 Conference Call</b>
    </p>
    <p>
      The Company will host a conference call tomorrow, November 3, 2016 at
      2:00 p.m. Eastern Time (11:00 a.m. Pacific Time) to discuss the
      quarterly results. Interested parties can listen to the live conference
      call and view accompanying slides on the Internet at <u>www.aswater.com</u>
      by clicking the &#8220;Investors&#8221; button at the top of the page.
    </p>
    <p>
      The call will also be archived on the website and available for replay
      beginning Thursday, November 3, 2016 at 5:00 p.m. Eastern Time (2:00
      p.m. Pacific Time) through Thursday, November&#160;10, 2016.
    </p>
    <p>
      <b>About American States Water Company</b>
    </p>
    <p>
      American States Water Company is the parent of Golden State Water
      Company and American States Utility Services, Inc. Through its utility
      subsidiary, Golden State Water Company, AWR provides water service to
      approximately 261,000 customers located throughout 10 counties in
      Northern, Coastal and Southern California. The Company also distributes
      electricity to approximately 24,000 customers in the City of Big Bear
      and surrounding areas in San Bernardino County, California. Through its
      contracted services subsidiary, American States Utility Services, Inc.,
      the Company provides operations, maintenance and construction management
      services for water and wastewater systems located on military bases
      throughout the country through 50-year privatization contracts with the
      U.S. government.
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-family: Times New Roman; width: 100%; font-size: 8pt">
      <tr>
        <td colspan="15">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="15" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>American States Water Company</b>
        </td>
      </tr>
      <tr>
        <td colspan="15" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Consolidated</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Comparative Condensed Balance Sheets</b>
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" style="text-align: center; padding-left: 0.0px" valign="top">
          September 30,
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px" valign="top">
          December 31,
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black" valign="top">
          (in thousands)
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          2016
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="3" style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          2015
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="3" style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="10" style="text-align: center; padding-left: 0.0px" valign="top">
          (Unaudited)
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Assets</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Utility Plant-Net
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,128,588
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,060,794
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Goodwill
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,116
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,116
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Other Property and Investments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          20,656
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          18,710
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Current Assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          136,856
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          132,697
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black" valign="top">
          Regulatory and Other Assets
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          153,170
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="3" style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          130,642
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="3" style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; padding-left: 40.0px; border-bottom-width: 1.0pt; border-bottom-color: black" valign="top">
          <b>Total Assets</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          1,440,386
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="3" style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          1,343,959
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="3" style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Capitalization and Liabilities</b>
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Capitalization
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          811,696
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          786,845
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Current Liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          179,848
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          123,507
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black" valign="top">
          Other Credits
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          448,842
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="3" style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          433,607
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="3" style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; padding-left: 40.0px; border-bottom-width: 1.0pt; border-bottom-color: black" valign="top">
          <b>Total Capitalization and Liabilities</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          1,440,386
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="3" style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          1,343,959
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="3" style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Condensed Statements of Income</b>
        </td>
        <td>

        </td>
        <td colspan="6" style="text-align: center; padding-left: 0.0px" valign="top">
          Three months ended
        </td>
        <td>

        </td>
        <td colspan="6" style="text-align: center; padding-left: 0.0px" valign="top">
          Nine months ended
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black" valign="top">
          (in thousands, except per share amounts)
        </td>
        <td>

        </td>
        <td colspan="6" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black" valign="top">
          September 30,
        </td>
        <td>

        </td>
        <td colspan="6" style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black" valign="top">
          September 30,
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          2016
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          2015
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          2016
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: center; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          2015
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="6" style="text-align: center; padding-left: 0.0px" valign="top">
          (Unaudited)
        </td>
        <td>

        </td>
        <td colspan="6" style="text-align: center; padding-left: 0.0px" valign="top">
          (Unaudited)
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Operating Revenues</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Water
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          90,617
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          97,273
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          237,987
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          256,358
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Electric
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          8,146
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          7,946
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          26,420
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          26,804
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Contracted services
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          25,043
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          27,756
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          64,880
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          65,364
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 75.0px" valign="top">
          <b>Total operating revenues</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>123,806</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>132,975</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>329,287</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>348,526</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Operating Expenses</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Water purchased
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          19,631
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          18,127
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          49,265
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          46,833
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Power purchased for pumping
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,988
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,982
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          6,752
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          7,122
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Groundwater production assessment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          4,482
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3,146
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          11,150
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          10,657
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Power purchased for resale
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,394
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,299
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          7,481
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          7,364
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Supply cost balancing accounts
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (4,213
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          4,824
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (10,145
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          8,453
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Other operation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          7,448
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          7,056
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          21,331
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          20,578
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Administrative and general
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          19,768
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          19,272
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          61,829
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          59,270
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Depreciation and amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          9,486
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          10,512
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          28,878
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          31,596
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Maintenance
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          4,203
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          4,393
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          11,908
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          12,075
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Property and other taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          4,317
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          4,326
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          12,863
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          12,662
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          ASUS construction
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          13,685
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          14,853
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          35,351
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          35,311
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 75.0px" valign="top">
          <b>Total operating expenses</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          84,189
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          91,790
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          236,663
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          251,921
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Operating income</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>39,617</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>41,185</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>92,624</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>96,605</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Other Income and Expenses</b>
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Interest expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (5,730
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (5,484
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (16,956
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (16,239
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Interest income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          206
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          118
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          568
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          332
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px" valign="top">
          Other, net
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          254
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          (346
        </td>
        <td style="border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          872
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          4
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 75.0px" valign="top">
          <b>Total other income and expenses</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (5,270
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (5,712
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (15,516
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (15,903
        </td>
        <td style="text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Income Before Income Tax Expense</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>34,347</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>35,473</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>77,108</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>80,702</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black" valign="top">
          Income tax expense
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          12,708
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          14,394
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          28,577
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          31,826
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; text-align: left; padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-color: black" valign="top">
          <b>Net Income</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          <b>21,639</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          <b>21,079</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          <b>48,531</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="border-bottom-style: solid; text-align: right; padding-left: 0.0px; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; white-space: nowrap" valign="bottom">
          <b>48,876</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Weighted average shares outstanding</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>36,561</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>37,063</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>36,546</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>37,653</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Basic earnings per Common Share</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.59</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.57</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>1.32</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>1.29</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Weighted average diluted shares</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>36,762</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>37,266</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>36,743</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>37,853</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Fully diluted earnings per Common Share</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.59</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.56</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>1.32</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>1.29</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Dividends Paid Per Common Share</b>
          </p>
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.224</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.224</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.672</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <b>0.650</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>American States Water Company<br>Eva G. Tang<br>Senior Vice
      President-Finance, Chief Financial Officer,<br>Corporate Secretary and
      Treasurer<br>(909) 394-3600, ext. 707
    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
