| Business Summary | | Middlesex
Water
Company
operates
water
utility
systems
in
central
and
southern
New
Jersey
and
in
Delaware,
as
well
as
a
wastewater
utility
in
southern
New
Jersey.
The
water
utility
system
in
central
New
Jersey
that
the
Company
calls
the
"Middlesex
System,"
produced
76.3%
of
its
2000
revenues.
The
Middlesex
System
treats,
stores
and
distributes
water
for
residential,
commercial,
industrial
and
fire
prevention
purposes.
The
Company's
Middlesex
System
provides
water
services
to
approximately
57,000
retail
customers,
primarily
in
eastern
Middlesex
County,
New
Jersey,
and
provides
water
on
a
wholesale
basis
under
contract
to
the
Township
of
Edison,
the
Boroughs
of
Highland
Park
and
Sayreville
and
both
the
Old
Bridge
and
the
Marlboro
Township
Municipal
Utilities
Authorities.
Under
a
special
contract,
the
Middlesex
System
also
provides
water
treatment
and
pumping
services
to
the
Township
of
East
Brunswick. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | MSEX
supplies
water
on
a
retail
basis
for
domestic,
commercial,
industrial
and
fire
protection
purposes.
For
the
six
months
ended
6/30/01,
revenues
increased
3%
to
$27.9
million.
Net
income
applicable
to
Common
increased
25%
to
$2.7
million.
Revenues
reflect
higher
fees
for
connecting
new
customers
in
Delaware.
Net
income
reflects
a
decrease
in
maintenance
cost,
an
improvement
in
opearting
margin,
and
an
increase
in
other
income. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| J. Richard Tompkins, 62 Chairman,
CEO | $282K | Dennis Sullivan, 59 Pres,
COO, Director | 149K | Richard Russo, 55 Exec.
VP | 190K | Walter Brady, 59 Sr.
VP-Admin. | 145K | Ronald Williams, 52 VP-Operations | -- | Dollar
amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|