• The Company reports a 13-percent increase in net income for the quarter
  • Strong cash flow leads to $23.2 million reduction in short-term debt

Dover, Delaware — Chesapeake Utilities Corporation (NYSE: CPK) today announced a 13-percent increase in net income for the quarter ended March 31, 2009, compared to the same period in 2008. Net income for the quarter ended March 31, 2009, was $8.6 million, or $1.24 per share (diluted), an increase of $1.0 million, or $0.14 per share (diluted), compared to $7.6 million, or $1.10 per share (diluted), for the same period in 2008. The increased earnings reflect the improved financial performance of the propane distribution and natural gas marketing subsidiaries, customer growth, and the impact of colder weather on the Delmarva Peninsula.

The discussions of the results for the