It also reported revenue of $67.6 million, up 18% from $57.2 million in the fourth quarter of 2007. For the full year, net income was $25.1 million, up more than 52% from $16.5 million. Analysts expected earnings per share of 26 cents per share on revenue of $59.8 million.

Richard A. Meeusen, chairman, president and CEO, said the weakening economy hurt Badger Meter's industrial markets, but the utility business, which contributed about 83 percent of sales, "did not experience any significant impact in 2008."

The agreement calls for ABCWUA to acquire the assets of NMUI in settlement of condemnation for $60 million. The funds will be paid to SouthWest Water at closing which is expected within 120 days. ABCWUA also agreed to offer employment to NMUI employees.

In addition, the settlement resolves all other legal issues between NMUI and ABCWUA including the dispute over the sewer fee ABCWUA charged NMUI for the treatment of wastewater and the ownership of the return flow credits from that treated wastewater. As part of the settlement, NMUI will pay $7 million to ABCWUA at the time of closing to resolve the sewer fee issue. [ more ]

New York Water Service provides public water to approximately 135,000 residents in the well established, populated area of southeastern Nassau County, Long Island, New York in the communities of Merrick, North Merrick, Bellmore, North Bellmore, Wantagh, Seaford, and portions of Levittown and Massapequa. [ more ]

Financial details of the agreement were not disclosed. Connecticut Water said that it would have cost much more to develop access and obtain the permits to tap an additional 1 million gallons of water per day for customers in Guilford.

The agreement lasts for 50 years, and can be renewed in 20-year blocks thereafter. Connecticut Water shares rose 27 cents to $25.63 in afternoon trading on the New York Stock Exchange.

The Board on April 26, 2006 approved a 2.4%, or a $0.02 annual increase in the Class A Non-Voting and Class B Common shareholders' dividend. The quarterly dividend of $0.2285 per share is payable May 26, 2006 to shareholders of record at the close of business on May 10, 2006. The cash dividend will be paid prior to the stock split. [ more ]

The dividend is payable July 31, 2006 to shareholders of record at the close of business June 30, 2006. [ more ]

I've been beating the drum on water as an investment idea for a while now, but I haven't actually bought any company that's a pure play on the space. Why? Well, valuations have gotten a little too healthy... Aqua America continues to draw my interest. After rising more than it probably deserved, it's now sliding further (and faster) than it probably should, given its underlying numbers. [ more ]

Basin Water is a small company with a small IPO led by a regional underwriter. The opening pop won't be hefty, but the company's long-term returns could be substantial. This deal requires guts and is worth a long look. [ more ]

Changsha Valve Works is a leading manufacturer of large diameter hydraulic actuated butterfly valves for thermo-power and hydro-power plants, water distribution projects and water works projects in China. [ more ]

The aeration systems are designed to remove hydrogen sulfide (H2S) and carbon dioxide (CO2) dissolved gases from contaminated groundwater as part of the process designed to make the groundwater suitable for public use. Each aerator is designed to treat 6 million gallons per day. All equipment will be constructed of Duall's unique NSF approved DUALLast(TM) fiberglass reinforced plastic with thermoplastic inner liner and will be fabricated in Duall's Owosso, Michigan manufacturing facility. [ more ]