<SUBMISSION>
<ACCESSION-NUMBER>0000863110-01-500044
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20011029
<ITEMS>5
<FILING-DATE>20011029
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>ARTESIAN RESOURCES CORP
<CIK>0000863110
<ASSIGNED-SIC>4941
<IRS-NUMBER>510002090
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-18516
<FILM-NUMBER>1768916
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>664 CHURCHMANS RD
<CITY>NEWARK
<STATE>DE
<ZIP>19702
<PHONE>3024536900
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>664 CHURCHMANS RD
<CITY>NEWARK
<STATE>DE
<ZIP>19702
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>k8oct26.htm
<DESCRIPTION>EARNINGS RELEASE
<TEXT>
<HTML>
<HEAD>
3
<META NAME="Generator" CONTENT="Microsoft Word 97">
<TITLE>k8oct26</TITLE>
</HEAD>
<BODY LINK="#0000ff" VLINK="#800080">

<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=667>
<TR><TD VALIGN="TOP">
<P ALIGN="CENTER"><B><FONT SIZE=2>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISION<BR>
Washington, D.C. 20549</B></FONT></TD>
</TR>
<TR><TD VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="CENTER">FORM 8-K</B></FONT></TD>
</TR>
<TR><TD VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="CENTER">CURRENT REPORT</B></FONT></TD>
</TR>
<TR><TD VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP">
<FONT SIZE=2><P ALIGN="CENTER">PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</FONT></TD>
</TR>
<TR><TD VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP"><DIR>

<P ALIGN="CENTER">Date of Report (Date of earliest event reported)October 26, 2001</DIR>
</TD>
</TR>
<TR><TD VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP">
<P ALIGN="CENTER">Commission file number 0-18516</TD>
</TR>
</TABLE>

<FONT SIZE=2><P>&nbsp;</P>
<P ALIGN="CENTER">&nbsp;</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=666>
<TR><TD VALIGN="TOP">
<P ALIGN="CENTER"><B><FONT SIZE=2>ARTESIAN RESOURCES CORPORATION</B></FONT></TD>
</TR>
<TR><TD VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="CENTER">--------------------------------------------------------------</B></FONT></TD>
</TR>
<TR><TD VALIGN="TOP">
<FONT SIZE=2><P ALIGN="CENTER">(exact name of registrant as specified in its charter)</FONT></TD>
</TR>
<TR><TD VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
</TABLE>

<P ALIGN="CENTER"></P>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=667>
<TR><TD WIDTH="60%" VALIGN="TOP">
<P ALIGN="CENTER"><B><FONT SIZE=2>Delaware</B></FONT></TD>
<TD WIDTH="40%" VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="CENTER">51-0002090</B></FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="CENTER">----------------------------------------------------------------------</FONT></TD>
<TD WIDTH="40%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="CENTER">-------------------------------------------------</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="CENTER">(State or other jurisdiction of incorporation or organization)</FONT></TD>
<TD WIDTH="40%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="CENTER">(I.R.S. Employer Identification Number)</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="40%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="40%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<B><FONT SIZE=2><P ALIGN="CENTER">664 Churchmans Road, Newark, Delaware&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19702</B></FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<FONT SIZE=2><P ALIGN="CENTER">------------------------------------------------------------------</FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<FONT SIZE=2><P ALIGN="CENTER">Address of principal executive officers</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="40%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<B><FONT SIZE=2><P ALIGN="CENTER">(302) 453 - 6900</B></FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<FONT SIZE=2><P ALIGN="CENTER">-----------------------------------------------------------</FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<FONT SIZE=2><P ALIGN="CENTER">Registrant's telephone number, including area code</FONT></TD>
</TR>
</TABLE>
</CENTER></P>

<B><P ALIGN="CENTER">&nbsp;</P>
<P>&nbsp;</P>
<P>ARTESIAN RESOURCES CORPORATION</P>
<P>Item 5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Events</P>
</B><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Artesian Resources Corporation Announces Increased Earnings</P>
<B><P>Newark, DE, October 26, 2001</B> - Artesian Resources Corporation today announced increased revenues and net income for the quarter and the nine-month period ended September 30, 2001 as compared to the same periods last year. The increases in both the quarter and the nine-month periods are attributable to increased water sales revenues. Revenues last year were suppressed as a result of frequent rainfall during the summer months, which reduced customer outdoor water usage. Year-to-date revenues for 2001 reflect normal rainfall frequency during the summer months. In addition, revenues improved due to rate increases and the addition of new customers.<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenues for the nine months ended September 30, 2001 were $23,881,000, up 16% from $20,610,000 as recorded for the same period last year. Net income available to common shareholders was $2,586,000, up 40% compared to $1,848,000 for the same period in 2000. Basic and diluted earnings per share were $1.28 and $1.25, respectively, as compared to $0.92 and $0.90 for the nine months ended September 30, 2000.<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In 2001, Artesian began providing Contract Operation services to municipalities and other water service providers within the state of Delaware. In the last several months, the Company has entered into several contracts that are expected to generate revenue streams not impacted by fluctuations in weather. In addition, Artesian Wastewater Management Inc., the Company's wastewater subsidiary, also generates revenues that are not weather dependent. Continued growth in the Company's Contract Operation services and its Wastewater Operations is expected to help Artesian achieve more consistent revenue patterns. Dian C. Taylor, CEO and Chair of the Board said "Artesian is committed to providing quality water service throughout the state. Expanding into Contract Operations allows us the opportunity to extend our quality service beyond our customer base, benefiting both the community and our shareholders."<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>In addition to historical facts or statements of current conditions, this press release contains forward-looking statements that involve risks and uncertainties. These risks and uncertainties could cause Artesian's actual results to differ materially from the presently anticipated results and expectations expressed in these forward-looking statements. These uncertainties include, but are not limited to, the Company's success in growing its Contract Operations and Wastewater services as a percentage of its overall business, the weather conditions in Delaware, and other economic, business, competitive and/or regulatory factors affecting Artesian's businesses generally. Given these risks and uncertainties, these forward-looking statements may prove to be incorrect. Therefore, you should not rely on any such factors or forward-looking statements. Furthermore, Artesian does not intend (and is not obligated) to update publicly any forward-looking statements. </P>
</I><B><P>&nbsp;</P>
<P>Artesian Resources Corporation and Subsidiaries</P></B>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=672>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=6>
<P><I>Condensed Consolidated Statements of Operations</I></TD>
<TD WIDTH="5%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP" COLSPAN=4>
<P>&nbsp;</TD>
<TD WIDTH="8%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="20%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="18%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="38%" VALIGN="TOP" COLSPAN=8>
<FONT SIZE=1><P>For the three months ended Sept. 30</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP" COLSPAN=6>
<FONT SIZE=1><P>For the nine months ended Sept. 30</FONT></TD>
</TR>
<TR><TD WIDTH="20%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="25%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=3>
<FONT SIZE=1><P>2000</FONT></TD>
<TD WIDTH="7%" VALIGN="TOP" COLSPAN=2>
<FONT SIZE=1><P>2001</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="9%" VALIGN="TOP" COLSPAN=3>
<FONT SIZE=1><P>2000</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP">
<FONT SIZE=1><P>2001</FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP" COLSPAN=5>
<P>&nbsp;</TD>
<TD WIDTH="42%" VALIGN="TOP" COLSPAN=11>
<FONT SIZE=1><P>In thousands, except per share data</FONT></TD>
</TR>
<TR><TD WIDTH="52%" VALIGN="TOP" COLSPAN=4>
<P>&nbsp;</TD>
<TD WIDTH="22%" VALIGN="TOP" COLSPAN=5>
<FONT SIZE=1><P>(Unaudited)</FONT></TD>
<TD WIDTH="9%" VALIGN="TOP" COLSPAN=4>
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP" COLSPAN=3>
<FONT SIZE=1><P>(Unaudited)</FONT></TD>
</TR>
</TABLE>


<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=665>
<TR><TD WIDTH="39%" VALIGN="TOP" HEIGHT=13>
<P><FONT SIZE=1>OPERATING REVENUE</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=13>
<FONT SIZE=1><P>$</FONT></TD>
<TD WIDTH="8%" VALIGN="TOP" HEIGHT=13>
<FONT SIZE=1><P ALIGN="RIGHT">8,947</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=13><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=13>
<FONT SIZE=1><P>$</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=13>
<FONT SIZE=1><P ALIGN="RIGHT">7,022</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=13><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=13>
<FONT SIZE=1><P>$</FONT></TD>
<TD WIDTH="8%" VALIGN="TOP" HEIGHT=13>
<FONT SIZE=1><P ALIGN="RIGHT">23,881</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=13><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=13>
<FONT SIZE=1><P>$</FONT></TD>
<TD WIDTH="9%" VALIGN="TOP" HEIGHT=13>
<FONT SIZE=1><P ALIGN="RIGHT">20,610</FONT></TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP" HEIGHT=1>
<FONT SIZE=1><P>Net Income Applicable to Common Stockholders</FONT></TD>
<TD WIDTH="3%" VALIGN="MIDDLE" HEIGHT=1>
<FONT SIZE=1><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="8%" VALIGN="MIDDLE" HEIGHT=1>
<FONT SIZE=1><P ALIGN="RIGHT">1,445</FONT></TD>
<TD WIDTH="3%" VALIGN="MIDDLE" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="MIDDLE" HEIGHT=1>
<FONT SIZE=1><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="9%" VALIGN="MIDDLE" HEIGHT=1>
<FONT SIZE=1><P ALIGN="RIGHT">622</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="MIDDLE" HEIGHT=1>
<FONT SIZE=1><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="8%" VALIGN="MIDDLE" HEIGHT=1>
<FONT SIZE=1><P ALIGN="RIGHT">2,586</FONT></TD>
<TD WIDTH="3%" VALIGN="MIDDLE" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="MIDDLE" HEIGHT=1>
<FONT SIZE=1><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="9%" VALIGN="TOP" HEIGHT=1>
<FONT SIZE=1><P ALIGN="RIGHT">1,848</FONT></TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP">
<FONT SIZE=1><P>Per Share Net Income Applicable to Common Stockholders</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="8%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="9%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="8%" VALIGN="MIDDLE">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="9%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="MIDDLE" HEIGHT=1><P></P></TD>
<TD WIDTH="8%" VALIGN="MIDDLE" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="MIDDLE" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="MIDDLE" HEIGHT=1><P></P></TD>
<TD WIDTH="9%" VALIGN="MIDDLE" HEIGHT=1><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="MIDDLE" HEIGHT=1><P></P></TD>
<TD WIDTH="8%" VALIGN="MIDDLE" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="MIDDLE" HEIGHT=1><P></P></TD>
<TD WIDTH="3%" VALIGN="MIDDLE" HEIGHT=1><P></P></TD>
<TD WIDTH="9%" VALIGN="TOP" HEIGHT=1><P></P></TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="8%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="9%" VALIGN="BOTTOM">
<P>&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="8%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="9%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="8%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="9%" VALIGN="BOTTOM">
<P>&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="8%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="9%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP">
<FONT SIZE=1><P>Basic</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=1><P>$</FONT></TD>
<TD WIDTH="8%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">0.71</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=1><P>$</FONT></TD>
<TD WIDTH="9%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">0.31</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=1><P>$</FONT></TD>
<TD WIDTH="8%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">1.28</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=1><P>$</FONT></TD>
<TD WIDTH="9%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">0.92</FONT></TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP">
<FONT SIZE=1><P>Diluted</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=1><P>$</FONT></TD>
<TD WIDTH="8%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">0.70</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=1><P>$</FONT></TD>
<TD WIDTH="9%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">0.30</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=1><P>$</FONT></TD>
<TD WIDTH="8%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">1.25</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=1><P>$</FONT></TD>
<TD WIDTH="9%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">0.90</FONT></TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP">
<FONT SIZE=1><P>Dividends per Share of Common Stock</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=1><P>$</FONT></TD>
<TD WIDTH="8%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">0.28</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=1><P>$</FONT></TD>
<TD WIDTH="9%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">0.275</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=1><P>$</FONT></TD>
<TD WIDTH="8%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">0.830</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=1><P>$</FONT></TD>
<TD WIDTH="9%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">0.825</FONT></TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP">
<FONT SIZE=1><P>Average Shares of Common Stock Outstanding</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="8%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="9%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="8%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="9%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP"><DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>
<DIR>

<FONT SIZE=1><P>Basic</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="8%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">2,028</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="9%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">2,009</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="8%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">2,022</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="9%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">2,005</FONT></TD>
</TR>
<TR><TD WIDTH="39%" VALIGN="TOP">
<FONT SIZE=1><P>Diluted</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="8%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">2,070</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="9%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">2,045</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="8%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">2,063</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="9%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">2,044</FONT></TD>
</TR>
</TABLE>


<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=664>
<TR><TD WIDTH="64%" VALIGN="TOP" COLSPAN=6>
<P><I>Condensed Consolidated Balance Sheets</I></TD>
<TD WIDTH="5%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="8%" VALIGN="TOP" COLSPAN=4>
<P>&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP" COLSPAN=4>
<P>&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="20%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="18%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="37%" VALIGN="TOP" COLSPAN=8>
<FONT SIZE=1><P ALIGN="CENTER">September 30, 2001</FONT></TD>
<TD WIDTH="25%" VALIGN="TOP" COLSPAN=6>
<FONT SIZE=1><P ALIGN="CENTER">December 30, 2000</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP" COLSPAN=3 HEIGHT=19><P></P></TD>
<TD WIDTH="28%" VALIGN="TOP" COLSPAN=6 HEIGHT=19>
<FONT SIZE=1><P ALIGN="RIGHT">(Unaudited)</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" COLSPAN=3 HEIGHT=19><P></P></TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4 HEIGHT=19>
<FONT SIZE=1><P ALIGN="RIGHT">(Unaudited)</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP" COLSPAN=3>
<FONT SIZE=1><P>ASSETS</FONT></TD>
<TD WIDTH="28%" VALIGN="TOP" COLSPAN=6>
<P>&nbsp;</TD>
<TD WIDTH="6%" VALIGN="TOP" COLSPAN=3>
<FONT SIZE=1><P ALIGN="CENTER">In thousands</FONT></TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP" COLSPAN=4>
<FONT SIZE=1><P>Utility Plant, at original cost less accumlated depreciations</FONT></TD>
<TD WIDTH="8%" VALIGN="MIDDLE">
<FONT SIZE=1><P ALIGN="CENTER">$</FONT></TD>
<TD WIDTH="12%" VALIGN="MIDDLE" COLSPAN=3>
<FONT SIZE=1><P ALIGN="RIGHT">149,106</FONT></TD>
<TD WIDTH="11%" VALIGN="MIDDLE" COLSPAN=5>
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="MIDDLE">
<FONT SIZE=1><P ALIGN="CENTER">$</FONT></TD>
<TD WIDTH="14%" VALIGN="MIDDLE" COLSPAN=2>
<FONT SIZE=1><P ALIGN="RIGHT">134,038</FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP" COLSPAN=4>
<FONT SIZE=1><P>Current Assets</FONT></TD>
<TD WIDTH="8%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP" COLSPAN=3>
<FONT SIZE=1><P ALIGN="RIGHT">8,093</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" COLSPAN=5>
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" COLSPAN=2>
<FONT SIZE=1><P ALIGN="RIGHT">6,402 </FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP" COLSPAN=4>
<FONT SIZE=1><P>Regulatory and Other Assets</FONT></TD>
<TD WIDTH="8%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP" COLSPAN=3>
<U><FONT SIZE=1><P ALIGN="RIGHT">3,873</U></FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" COLSPAN=5>
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP" COLSPAN=2>
<U><FONT SIZE=1><P ALIGN="RIGHT">3,967</U></FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP" COLSPAN=4>
<P>&nbsp;</TD>
<TD WIDTH="8%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="CENTER">$</FONT></TD>
<TD WIDTH="12%" VALIGN="TOP" COLSPAN=3>
<U><FONT SIZE=1><P ALIGN="RIGHT">161,072</U></FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" COLSPAN=5>
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="CENTER">$</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP" COLSPAN=2>
<U><FONT SIZE=1><P ALIGN="RIGHT">144,407</U></FONT></TD>
</TR>
</TABLE>


<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=679>
<TR><TD WIDTH="51%" VALIGN="TOP">
<P><FONT SIZE=1>CAPITALIZATION AND LIABILITIES</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="16%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=1><P>Stockholders</FONT><FONT FACE="WP TypographicSymbols" SIZE=1>=</FONT><FONT SIZE=1> Equity</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="CENTER">$</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">34,021</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="CENTER">$</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">32,829</FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=1><P>Long Term Debt, Net of Current Portion</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">49,848</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">51,017</FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=1><P>Current Liabilities</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">24,370</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">9,498</FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=1><P>Advances for Construction</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">18,780</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">18,780</FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=1><P>Contributions in Aid of Construction</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">26,619</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="RIGHT">25,663</FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=1><P>Other Liabilities</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<U><FONT SIZE=1><P ALIGN="RIGHT">7,434</U></FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<U><FONT SIZE=1><P ALIGN="RIGHT">6,620</U></FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="CENTER">$</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<U><FONT SIZE=1><P ALIGN="RIGHT">161,072</U></FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="CENTER">$</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP">
<U><FONT SIZE=1><P ALIGN="RIGHT">144,407</U></FONT></TD>
</TR>
</TABLE>

<P>&nbsp;</P>
<P>&nbsp;</P>
<B><P ALIGN="CENTER">SIGNATURES</P>
</B><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 thereunto duly authorized.</P>
<B><P ALIGN="CENTER">ARTESIAN RESOURCES CORPORATION<BR>
</B><U>10/29/01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/Dian C. Taylor<BR>
</U>Dian C. Taylor</P>
<P ALIGN="CENTER">President, CEO, and Chair of the Board<BR>
Artesian Resources Corporation and Subsidiaries</P>
<U><P ALIGN="CENTER">10/29/01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/David B. Spacht&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>David B. Spacht<BR>
Vice President, Chief Financial Officer, and Treasurer<BR>
Artesian Resources Corporation and Subsidiaries</P>
<P ALIGN="CENTER">Form 8K </P></BODY>
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