CALIFORNIA WTR SVC GROUP
			Symbol			CWT

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California Water Service Group Announces Results for 3rd Quarter 2009

2009-10-28 17:48 ET - News Release

SAN JOSE, CA -- (MARKET WIRE) -- 10/28/09

California Water Service Group (NYSE: CWT) today announced net income of $19.6 million and earnings per share of $0.94 for the third quarter of 2009, compared to net income of $22.2 million and earnings per share of $1.06 in the third quarter of 2008.

Revenues increased by $7.5 million, or 6%, to $139.2 million, with rate increases adding $12.5 million and water usage by new customers adding $3.3 million. A decrease in water usage by existing customers and other charges reduced revenue by $8.3 million.

Total operating expenses for the third quarter of 2009 increased by $10.1 million, or 10%, to $115.1 million. Water production costs increased by $2.4 million, or 5%, due to higher power costs and wholesale water rates. Administrative costs increased $4.1 million, or 27%, due to increased pension & benefits costs, and increased legal costs. Other operations expenses increased by $1.7 million to $14.6 million as a result of higher costs for pumping and distributing water.

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