Consolidated Water Co. Ltd. CWCO reported first-quarter 2016 earnings of 14 cents per share, missing the Zacks Consensus Estimate of 16 cents by 12.5% but increasing 7.7% from the year-ago figure. Total RevenueIn the quarter under review, Consolidated Water’s total revenue came in line with the Zacks Consensus Estimate of $14 million.Highlights of the ReleaseIn the reported quarter, cost of revenues decreased 7.1% year over year to $7.9 million mainly due to lower cost of retail and bulk revenues, partially offset by higher cost of services revenues.Consolidated Water’s quarterly gross profit were $6.2 million, up marginally from the prior-year level, primarily due to better performance at the retail and services segments.In the quarter under review, the company incurred general and administrative expenses of $4.5 million, up 15.4% primarily due to higher project development expenses and costs related to its acquisition of a 51% interest in Aerex Industries.Quarterly income from operations stood at $1.7 million, down 26.1% from $2.3 million a year ago.Financial UpdateAs of Mar 31, 2016, Consolidated Water’s cash and cash equivalents were $35.6 million, down from $44.8 million as of Dec 31, 2015.Peer ReleasesCalifornia Water Service Group CWT reported first-quarter 2016 adjusted loss of 2 cents per share. The Zacks Consensus Estimate was earnings of 3 cents.American States Water Company AWR posted first-quarter 2016 earnings of 28 cents per share, lagging the Zacks Consensus Estimate of 34 cents by 17.6%.Aqua America Inc. WTR reported first-quarter 2016 earnings per share of 29 cents, beating the Zacks Consensus Estimate of 28 cents by a penny.Zacks RankConsolidated Water currently has a Zacks Rank #3 (Hold).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CALIF WATER SVC (CWT): Free Stock Analysis Report CONSOLTD WATER (CWCO): Free Stock Analysis Report AQUA AMER INC (WTR): Free Stock Analysis Report AMER STATES WTR (AWR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research