Artesian Resources Corp (NASDAQ: ARTNA)

Artesian Resources Corporation is a holding company that provides water and wastewater services through its subsidiaries in Delaware Maryland and Pennsylvania. The company distributes and sells water for residential commercial industrial municipal and utility customers and provides wastewater collection treatment and disposal services. It also offers contract operations for water and wastewater infrastructure and develops real estate related to utility facilities.

The company generates revenue primarily from the sale of water and wastewater services to its customers. Additional revenue comes from contract operation agreements with private municipal and governmental entities for managing water and wastewater facilities. Artesian Resources also earns income from protection plan fees and from real estate holdings that support its utility operations.

The company operates through the following segments: Artesian Water, Artesian Water Maryland, Artesian Water Pennsylvania, Artesian Wastewater, TESI, Artesian Wastewater Maryland, Artesian Utility, and Artesian Development.

• Artesian Water distributes and sells water including fire protection to residential commercial industrial municipal and utility customers in Delaware Maryland and Pennsylvania it also provides contract operations for water utilities produces groundwater treats water to meet federal state and local standards and maintains storage tanks transmission mains and aquifer storage recovery systems.

• Artesian Water Maryland distributes and sells water to residential commercial industrial and municipal customers in Cecil County Maryland it owns and operates nine public water systems operates ten separate water treatment facilities including a surface water treatment plant on the Susquehanna River and maintains storage tanks capable of holding approximately 2.5 million gallons.

• Artesian Water Pennsylvania provides water service to a residential community in Chester County Pennsylvania.

• Artesian Wastewater provides wastewater services in Sussex County Delaware it owns and operates four wastewater treatment facilities permitted to treat and dispose of approximately 2.3 million gallons per day operates a disposal lagoon and spray irrigation system for an industrial customer and recently completed a new treatment facility that delivers 625 000 gallons per day of treated process wastewater for residential and small commercial customers.

• TESI provides wastewater services to customers in Sussex County Delaware including all residents of the Town of Milton it owns and operates four wastewater treatment facilities permitted to treat and dispose of approximately 525 000 gallons per day.

• Artesian Wastewater Maryland was incorporated to provide regulated wastewater services in the State of Maryland but is currently not providing these services.

• Artesian Utility designs and builds water and wastewater infrastructure provides contract water and wastewater operation services evaluates land parcels for developers operates wastewater treatment facilities for the Town of Middletown under a 20 year contract operates three wastewater treatment systems with a combined capacity of up to 3.8 million gallons per day and offers protection plans known as the WSLP Plan the SSLP Plan and previously the ISLP Plan.

• Artesian Development is a real estate holding company that owns properties including land approved for office buildings a water treatment plant and a wastewater facility as well as property for current operations including an office facility in Sussex County Delaware.

Artesian Resources Corporation holds the position of the oldest and largest investor owned public water utility on the Delmarva Peninsula. The company benefits from exclusive franchises granted by state public service commissions which limit direct competition in its service areas. Competitors include other investor owned utilities municipal water and wastewater departments and private contract operators. Competitive advantages stem from its long operating history extensive infrastructure regulatory relationships and ability to secure cost recovery for capital investments through approved rates.

The company serves residential commercial industrial municipal and utility customers across its water and wastewater systems. Specific customer names mentioned in the filing include the Town of Middletown the Town of Milton Sussex County and Chester Water Authority. Additionally Artesian Resources provides services to private municipal and governmental institutions throughout the Delmarva Peninsula.