NEWARK, Del. (AP) — NEWARK, Del. (AP) — Artesian Resources Corp. (ARTNA) on Tuesday reported first-quarter net income of $3.7 million.

On a per-share basis, the Newark, Delaware-based company said it had net income of 39 cents.

The water resource management company posted revenue of $22.5 million in the period.

Artesian Resources shares have dropped slightly more than 6% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $54.88, an increase of 19% in the last 12 months.

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