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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950116-06-001580.txt : 20060515
<SEC-HEADER>0000950116-06-001580.hdr.sgml : 20060515
<ACCEPTANCE-DATETIME>20060515151304
ACCESSION NUMBER:		0000950116-06-001580
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20060510
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20060515
DATE AS OF CHANGE:		20060515

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARTESIAN RESOURCES CORP
		CENTRAL INDEX KEY:			0000863110
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER SUPPLY [4941]
		IRS NUMBER:				510002090
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-18516
		FILM NUMBER:		06840238

	BUSINESS ADDRESS:	
		STREET 1:		664 CHURCHMANS RD
		CITY:			NEWARK
		STATE:			DE
		ZIP:			19702
		BUSINESS PHONE:		3024536900

	MAIL ADDRESS:	
		STREET 1:		664 CHURCHMANS RD
		CITY:			NEWARK
		STATE:			DE
		ZIP:			19702
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>eight-k.txt
<DESCRIPTION>8-K
<TEXT>
<PAGE>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549




                                    FORM 8-K

                                 CURRENT REPORT

     PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): May 10, 2006



                         ARTESIAN RESOURCES CORPORATION
  -----------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

<TABLE>
<CAPTION>

               Delaware                          000-18516                          51-0002090
 ------------------------------------  ------------------------------  ------------------------------------
<S>                                                <C>                                 <C>
   (State or other jurisdiction of              (Commission             (IRS Employer Identification No.)
            incorporation)                      File Number)


               664 Churchmans Road, Newark, Delaware                              19702
    ------------------------------------------------------------  -------------------------------------
              (Address of principal executive offices)                         (Zip Code)
</TABLE>


Registrant's telephone number, including area code: 302-453-6900
                                                   --------------

                                 Not Applicable
         --------------------------------------------------------------
         (Former name or former address, if changed since last report.)


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 (see General Instruction A.2. below):


[ ] Written communications pursuant to Rule 425 under the Securities Act

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
    Exchange Act

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
    Exchange Act


<PAGE>


ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On May 10, 2006, Artesian Resources Corporation (the "Company") issued a press
release reporting its financial results for the first quarter ended March 31,
2006. A copy of the press release is being furnished as Exhibit 99.1 to this
report.

The foregoing information and the information set forth in Exhibits 99.1
attached hereto is being furnished and shall not be deemed "filed" for purposes
of Section 18 of the Securities Exchange Act of 1934 nor shall it be deemed
incorporated by reference in any filing under the Securities Act of 1933 except
as shall be expressly set forth by specific reference in such filing.


ITEM 8.01 OTHER EVENTS.

On May 12, 2006, the Company issued a press release announcing that the Board of
Directors of the Company approved a three-for-two split of the Company's common
stock, to be effected in the form of a 50% stock dividend, to stockholders of
record at the close of business on May 30, 2006.


ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

The following exhibit is furnished with this report:


    EXHIBIT           EXHIBIT TITLE
     NUMBER

      99.1            Press Release dated May 10, 2006



<PAGE>



                                   SIGNATURES

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.

                                        ARTESIAN RESOURCES CORPORATION

Date: May 15, 2006                      By: /s/ DIAN C. TAYLOR
                                           -----------------------------------
                                        Dian C. Taylor
                                        President, Chief Executive Officer and
                                        Chair of the Board

<PAGE>



                                INDEX TO EXHIBIT


    EXHIBIT           EXHIBIT TITLE
     NUMBER

      99.1            Press Release dated May 10, 2006
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ex99-1.txt
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<PAGE>

                                                                    Exhibit 99.1

Newark, DE, May 10, 2006 - Artesian Resources Corporation (Nasdaq:ARTNA)
(Artesian) today announced that basic and diluted net income per common share
for the quarter ended March 31, 2006 were $0.25 and $0.24, as compared to $0.24
and $0.23 for the comparable period in 2005. Revenues for the quarter were $10.5
million, up 5.9% from $9.9 million in 2005. Net income available to common
stockholders was $996,000, compared to $954,000 last year, a 4.4% increase.

Dian C. Taylor, CEO and Chair of the Board, said "We believe our second century
of operation is off to a solid start. Artesian continues to make significant
investments in water supply, treatment, storage and distribution to assure
reliable, high quality service to its customers throughout Delaware. We acted to
refinance outstanding long-term debt over the last three years and to issue
additional debt needed to finance our investments in utility plant, taking
advantage of historically low interest rates for the benefit of our customers.
Although paying attention every day, we know we must never lose our long-term
perspective."

Water sales revenues increased 7.6% compared to the same quarter last year. A
portion of the increase in water sales revenue reflects the addition of 1,284
customers and higher volumes of water delivered to customers compared to the
same period last year. In addition, we recorded $154,000 in water sales revenues
in the first quarter of 2006 associated with a remanded issue in our April 2004
rate filing. These revenues were collected in rates from September 2004 through
March 2006 and held in reserve until the Delaware Public Service Commission
reached a final decision on April 11, 2006. The remainder of the increase is
primarily due to additional revenues of $132,000 generated by our Distribution
System Improvement Charge in the first quarter of 2006. This charge permits more
timely recovery of investments made by Artesian related to specific types of
distribution system improvements assuring reliable water service.

Non-utility operating revenues decreased $133,000 compared to the same period a
year ago as a result of decreased wastewater design and construction activity.

Utility operating expense increased $425,000, or 7.9%, to $5.8 million for the
three months ended March 31, 2006, compared to $5.4 million for the same period
in 2005. This is comprised of increases in legal expense, payroll and employee
benefits, purchased water costs and water treatment expense.

Legal expense increased $168,000 as a result of costs related to the 2004 rate
proceeding remand that was not expected to be, nor included in the rate expenses
approved in the proceeding.

Payroll and employee benefit expense increased $112,000, primarily due to a
decrease in the capitalization of payroll and benefits associated with our
internal staff efforts in 2005 to convert our customer information system. The
new customer information system was placed into service on January 2, 2006.

Utility operating expense also increased $49,000 due to the recognition of an
increase in rates charged for water purchased from neighboring utilities under
minimum take or pay agreements. Water treatment expense increased utility
operating expense by $47,000 as a result of increases in the cost of chemicals
used in the water treatment process. Increases in energy prices have been the
primary reason for the increase in the cost charged to Artesian.

Non-utility operating expenses decreased $73,000 compared to the same period a
year ago as a result of decreased wastewater design and construction activity.

Artesian Resources Corporation, through our wholly-owned subsidiary Artesian
Water Company, is the largest investor owned regulated public water utility in
the State of Delaware and has been providing water within the state since 1905.
About $170 million has been invested in Artesian's utility plant over the last
10 years to provide sufficient treated supply, new water mains and additional
storage capacity to meet peak demands and provide fire protection for Delaware
residents. We distribute and sell water to residential, commercial, industrial,
governmental, municipal and utility customers throughout the state. As of March
31, 2006, Artesian was serving approximately 73,000 metered customers, providing
water service to about 240,000 residents (including contract services),
approximately 28% of Delaware's total population. Last year, Artesian
distributed 7.5 billion gallons of water. Artesian serves its customers through
107 operating wells. Artesian's water supply is treated at 50 different
locations statewide. Artesian owns and maintains approximately 1,000 miles of
water main throughout the state.


Contact: Nicki Taylor
Investor Relations
(302) 453-6943 ntaylor@artesianwater.com
               -------------------------
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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