California Water Service Group

California Water Service Group

CWT · NYSE · Utilities / Utilities - Regulated Water

49.53USD+0.14 (+0.28%)

Price History

Full chart

Market Stats

Previous Close49.39
Open49.67
Day Range49.41 – 49.95
52-Week Range40.39 – 53.46
Volume215.98K
Market Cap2.84B
P/E (TTM)20.63
Forward P/E17.45
EPS2.23
Dividend Yield2.91%
Beta0.49
50-Day Avg49.74
200-Day Avg46.27

About

California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, Hawaii, and Texas. It is involved in the production, purchase, storage, treatment, testing, distribution, and sale of water for domestic, industrial, public, and irrigation uses, as well as for fire protection services. The company offers its services to approximately 500,000 customer connections in 20 separate districts; approximately 6,800 water and wastewater customer connections on the islands of Kauai, Maui, Oahu, and Hawaii; approximately 38,500 customer connections in the Tacoma, Olympia, Graham, Spanaway, Puyallup, Rainier, Yelm, and Gig Harbor areas; and approximately 11,800 water and wastewater customer connections in Rio Communities, Rio Del Oro, Meadow Lake, Indian Hills, Squaw Valley, Elephant Butte, Morningstar, Sandia Knolls, Juan Tomas, Monterey, and Cypress Gardens systems. The company also engages in the provision of non-regulated water-related services, including operating of municipally owned water systems, privately owned water, and recycled water distribution systems; water system operation, meter reading, and billing services to private companies and municipalities; leasing of communication antenna sites on its properties; and billing of optional third-party insurance programs to its residential customers. In addition, it provides wastewater collection and treatment services. California Water Service Group was founded in 1926 and is headquartered in San Jose, California.

Company Details

  • SectorUtilities
  • IndustryUtilities - Regulated Water
  • CEOMr. Martin A. Kropelnicki
  • Employees1.34K
  • Headquarters1720 North First Street, San Jose, CA, United States, 95112-4598, USA
  • Websitehttps://www.calwatergroup.com

Leadership

  • Mr. Martin A. KropelnickiChairman, President & CEO · b. 1967
  • Mr. James Patrick Lynch CPASenior VP, CFO, Principal Financial Officer & Treasurer · b. 1959
  • Mr. Shawn C. BuntingSenior VP of Business Development & Chief Legal Officer · b. 1973
  • Mr. Michael B. LuuSenior VP of Corporate Services & Chief Risk Officer · b. 1980
  • Ms. Shannon C. DeanSenior VP of Customer Service & Chief Sustainability Officer · b. 1968
  • Mr. Michael S. Mares Jr.Senior Vice President of Operations · b. 1967
  • Mr. Thomas A. ScanlonVP, Corporate Controller and Principal Accounting Officer · b. 1963
  • Mr. Kris A. HamnerVP & Chief Human Resource Officer · b. 1977
  • Mr. Todd K. PetersChief Engineering Officer
  • Mr. Shilen M. PatelChief Business Development Officer

Financials

Income Statement

Currency: USD1986-12-311987-12-311988-12-311989-12-311990-12-311991-12-311992-12-311993-12-311994-12-311995-12-311996-12-311997-12-311998-12-311999-12-312000-12-312001-12-312002-12-312003-12-312004-12-312005-12-312006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Revenue109.50M112.80M113.80M117.50M124.40M127.20M139.80M151.70M157.30M165.10M182.80M195.30M186.30M206.40M244.81M246.82M263.15M277.13M315.57M320.73M334.72M367.08M410.31M449.37M460.40M501.81M559.97M584.10M597.50M588.37M609.37M666.89M698.20M714.56M794.31M790.91M846.43M794.63M1.04B1.00B
Growth (%)-+3.01%+0.89%+3.25%+5.87%+2.25%+9.91%+8.51%+3.69%+4.96%+10.72%+6.84%-4.61%+10.79%+18.61%+0.82%+6.62%+5.31%+13.87%+1.64%+4.36%+9.67%+11.78%+9.52%+2.45%+9.00%+11.59%+4.31%+2.29%-1.53%+3.57%+9.44%+4.69%+2.34%+11.16%-0.43%+7.02%-6.12%+30.48%-3.54%
Cost of Revenue--------12.60M12.70M12.10M12.50M11.10M13.00M15.14M21.13M22.90M21.92M21.80M20.54M116.16M130.72M137.66M216.06M164.11M181.75M221.84M243.43M243.79M229.39M242.99M264.40M277.34M373.37M402.68M307.13M316.08M431.25M47.69M356.68M
Gross Profit109.50M112.80M113.80M117.50M124.40M127.20M139.80M151.70M144.70M152.40M170.70M182.80M175.20M193.40M229.67M225.69M240.25M255.21M293.77M300.19M218.55M236.36M272.65M233.31M296.29M320.06M338.13M340.67M353.70M358.98M366.38M402.49M420.86M341.19M391.62M483.77M530.35M363.38M989.12M643.46M
Gross Margin100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%91.99%92.31%93.38%93.60%94.04%93.70%93.82%91.44%91.30%92.09%93.09%93.60%65.29%64.39%66.45%51.92%64.36%63.78%60.38%58.32%59.20%61.01%60.13%60.35%60.28%47.75%49.30%61.17%62.66%45.73%95.40%64.34%
Operating Expense00000000109.60M117.20M128.20M134.60M134.60M150.60M184.90M190.81M197.39M212.07M235.20M240.37M162.95M174.30M190.67M175.19M234.48M252.89M264.28M266.67M271.86M287.83M290.19M307.87M310.31M241.77M254.96M357.00M402.69M286.24M764.06M460.36M
Operating Income109.50M112.80M113.80M117.50M124.40M127.20M139.80M151.70M35.10M35.20M42.50M48.20M40.60M42.80M44.77M34.88M42.87M43.13M58.57M59.82M55.60M62.06M81.98M58.12M61.81M67.17M73.84M74.00M81.85M71.15M76.19M94.62M110.54M99.41M136.67M126.77M127.66M77.14M225.05M183.09M
Operating Margin100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%22.31%21.32%23.25%24.68%21.79%20.74%18.29%14.13%16.29%15.56%18.56%18.65%16.61%16.91%19.98%12.93%13.43%13.38%13.19%12.67%13.70%12.09%12.50%14.19%15.83%13.91%17.21%16.03%15.08%9.71%21.71%18.31%
EBITDA109.50M112.80M113.80M117.50M124.40M127.20M139.80M151.70M45.80M45.80M54.60M61.00M59.41M56.10M63.13M54.10M64.10M66.39M82.30M83.43M86.25M96.29M94.81M97.90M133.85M142.57M155.28M153.06M171.69M158.66M169.22M211.18M205.39M213.30M251.65M259.87M263.34M217.54M424.26M360.17M
EBITDA Margin100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%29.12%27.74%29.87%31.23%31.89%27.18%25.79%21.92%24.36%23.96%26.08%26.01%25.77%26.23%23.11%21.79%29.07%28.41%27.73%26.20%28.73%26.97%27.77%31.67%29.42%29.85%31.68%32.86%31.11%27.38%40.92%36.01%
Net Income13.70M15.00M14.10M13.80M14.40M13.90M12.50M15.50M14.40M14.70M19.10M23.30M18.40M19.90M19.96M14.96M19.07M19.42M26.03M27.22M25.58M31.16M39.80M40.55M37.66M37.71M48.83M47.25M56.74M45.02M48.67M67.18M65.58M63.12M96.83M101.13M96.01M51.91M190.81M128.21M
Net Income Margin12.51%13.30%12.39%11.74%11.58%10.93%8.94%10.22%9.15%8.90%10.45%11.93%9.88%9.64%8.15%6.06%7.25%7.01%8.25%8.49%7.64%8.49%9.70%9.02%8.18%7.52%8.72%8.09%9.50%7.65%7.99%10.07%9.39%8.83%12.19%12.79%11.34%6.53%18.40%12.82%
R&D-------------------------00000000-------
R&D as % of Total Revenue-------------------------0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%-------
Interest Expense0000000011.40M11.50M11.90M012.40M014.65M16.03M16.84M17.52M17.84M17.70M16.97M17.13M17.18M21.31M26.37M29.71M28.14M28.86M26.95M27.27M30.50M33.93M37.85M41.22M41.86M43.21M44.34M49.82M57.55M66.70M
Interest Expense % of Total Revenue0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%7.25%6.97%6.51%0.00%6.66%0.00%5.98%6.49%6.40%6.32%5.65%5.52%5.07%4.67%4.19%4.74%5.73%5.92%5.02%4.94%4.51%4.63%5.01%5.09%5.42%5.77%5.27%5.46%5.24%6.27%5.55%6.67%

Balance Sheet

Currency: USD1986-12-311987-12-311988-12-311989-12-311990-12-311991-12-311992-12-311993-12-311994-12-311995-12-311996-12-311997-12-311998-12-311999-12-312000-12-312001-12-312002-12-312003-12-312004-12-312005-12-312006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Assets--------464.20M484.90M512.40M531.30M548.50M587.60M666.61M710.21M800.58M873.03M942.85M996.95M1.17B1.18B1.42B1.53B1.69B1.85B2.00B1.96B2.19B2.25B2.41B2.74B2.84B3.21B3.39B3.62B3.95B4.70B5.18B5.67B
Total Liabilities--------316.30M334.50M354.70M363.70M376.20M406.90M464.30M510.12M597.89M625.04M651.77M699.53M783.24M795.32M1.02B1.10B1.26B1.40B1.52B1.36B1.56B1.60B1.75B2.05B2.11B2.43B2.47B2.45B2.62B3.27B3.54B3.98B
Total Equity--------147.90M150.40M157.70M167.60M172.30M180.70M202.31M200.09M202.69M248.00M291.08M297.42M381.78M389.18M402.95M420.63M435.53M449.83M473.71M598.76M626.63M642.15M659.47M693.46M730.16M779.91M921.34M1.17B1.32B1.43B1.64B1.69B
Cash--------1.30M6.30M1.40M1.70M600.00K1.40M3.24M953.00K1.06M2.86M18.82M9.53M60.31M6.73M13.87M9.87M42.28M27.20M38.79M27.51M19.59M8.84M25.49M94.78M47.18M43.30M44.55M78.38M85.03M84.97M50.12M51.82M
Total Debt--------135.90M145.50M149.70M153.70M161.00M172.90M204.58M229.98M287.74M279.58M275.92M275.27M293.59M291.92M330.32M399.22M692.21M722.58M758.31M480.87M504.95M552.50M655.05M806.81M880.04M998.10M1.17B1.10B1.14B1.25B1.40B1.62B
Net Debt--------134.60M139.20M148.30M152.00M160.40M171.50M201.34M229.03M286.68M276.73M257.10M265.74M233.28M285.19M316.45M389.36M463.03M508.10M531.93M453.36M485.37M543.66M629.56M712.04M832.86M954.80M1.13B1.02B1.06B1.16B1.35B1.56B

Cash Flow

Currency: USD1994-12-311995-12-311996-12-311997-12-311998-12-311999-12-312000-12-312001-12-312002-12-312003-12-312004-12-312005-12-312006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Operating Cash Flow25.50M29.80M33.20M39.40M37.50M42.70M34.63M38.59M33.41M44.43M55.41M86.26M60.97M50.05M95.73M72.42M75.51M111.27M131.91M124.17M128.13M144.63M159.70M147.84M179.02M168.79M117.92M231.72M243.77M217.82M290.87M302.56M
Investing Cash Flow-28.30M-27.30M-35.70M-32.90M-34.60M-44.50M-37.16M-62.05M-87.66M-75.54M-69.46M-92.67M-114.57M-100.33M-99.88M-114.72M-122.61M-123.27M-128.93M-125.20M-134.77M-178.26M-230.84M-206.65M-273.08M-275.96M-346.07M-300.87M-335.52M-389.42M-474.87M-520.14M
Financing Cash Flow2.60M2.40M-2.40M-6.10M-4.10M2.20M4.12M21.17M54.35M32.91M30.01M-2.87M104.38M-3.31M11.28M38.29M79.52M-3.08M8.60M-10.26M-1.28M22.88M87.79M128.09M46.48M102.75M229.98M104.68M96.12M171.54M194.72M219.26M
Capital Expenditure28.30M27.30M35.70M32.90M34.60M44.50M37.16M62.05M88.36M74.25M68.57M94.52M114.41M101.34M107.80M110.61M123.93M118.55M127.68M122.99M132.01M176.83M228.94M259.19M271.71M273.77M298.65M293.19M327.76M383.75M470.80M516.99M
Free Cash Flow-2.80M2.50M-2.50M6.50M2.90M-1.80M-2.53M-23.46M-54.95M-29.82M-13.16M-8.26M-53.45M-51.29M-12.07M-38.18M-48.42M-7.27M4.23M1.19M-3.88M-32.20M-69.24M-111.35M-92.69M-104.98M-180.73M-61.48M-83.98M-165.93M-179.93M-214.43M
Dividends Paid11.70M12.90M13.20M13.50M13.70M13.90M16.39M17.07M17.16M17.72M20.08M21.11M21.97M24.12M24.35M24.48M24.75M25.67M26.39M29.62M31.06M32.07M33.08M34.56M36.04M38.02M41.77M47.40M54.19M59.04M65.46M73.85M
FCF to OCF-10.98%8.39%-7.53%16.50%7.73%-4.22%-7.32%-60.80%-164.44%-67.12%-23.75%-9.57%-87.67%-102.47%-12.61%-52.72%-64.12%-6.54%3.21%0.95%-3.03%-22.26%-43.36%-75.32%-51.78%-62.19%-153.26%-26.53%-34.45%-76.18%-61.86%-70.87%
Dividend Paid to FCF-417.86%516.00%-528.00%207.69%472.41%-772.22%-646.72%-72.76%-31.23%-59.43%-152.58%-255.58%-41.10%-47.04%-201.66%-64.10%-51.13%-352.96%623.36%2499.49%-800.18%-99.58%-47.78%-31.04%-38.89%-36.22%-23.11%-77.10%-64.52%-35.58%-36.38%-34.44%

Earnings

Report DateJul 18, 1995Oct 17, 1995Jan 24, 1996Apr 17, 1996Jul 17, 1996Oct 16, 1996Jan 22, 1997Apr 16, 1997Jul 17, 1997Oct 15, 1997Jan 28, 1998Apr 15, 1998Jul 22, 1998Oct 21, 1998Jan 27, 1999Apr 21, 1999Jul 21, 1999Oct 27, 1999Jan 26, 2000Apr 19, 2000Jul 19, 2000Oct 18, 2000Jan 24, 2001Mar 31, 2001Jul 25, 2001Oct 24, 2001Jan 30, 2002Apr 24, 2002Jul 25, 2002Oct 23, 2002Jan 29, 2003Apr 23, 2003Jul 23, 2003Oct 22, 2003Jan 28, 2004Apr 28, 2004Jul 28, 2004Oct 27, 2004Jan 26, 2005Apr 27, 2005Jul 27, 2005Oct 26, 2005Jan 25, 2006Apr 26, 2006Aug 2, 2006Nov 1, 2006Feb 28, 2007May 2, 2007Aug 1, 2007Oct 31, 2007Feb 27, 2008Apr 30, 2008Jul 30, 2008Oct 29, 2008Feb 25, 2009Apr 29, 2009Jul 29, 2009Oct 28, 2009Feb 24, 2010Apr 28, 2010Jul 28, 2010Oct 27, 2010Feb 23, 2011May 4, 2011Aug 3, 2011Oct 26, 2011Feb 29, 2012May 7, 2012Jul 25, 2012Nov 6, 2012Feb 27, 2013May 1, 2013Jul 31, 2013Nov 5, 2013Feb 26, 2014Apr 30, 2014Jul 30, 2014Oct 29, 2014Feb 25, 2015Apr 29, 2015Jul 29, 2015Oct 28, 2015Feb 24, 2016Apr 28, 2016Jul 28, 2016Oct 27, 2016Feb 23, 2017Apr 27, 2017Jul 27, 2017Oct 26, 2017Mar 1, 2018Apr 26, 2018Jul 26, 2018Nov 1, 2018Feb 28, 2019Apr 25, 2019Aug 1, 2019Oct 31, 2019Feb 27, 2020Apr 30, 2020Jul 30, 2020Nov 6, 2020Feb 25, 2021Apr 29, 2021Jul 29, 2021Oct 28, 2021Feb 24, 2022Apr 28, 2022Jul 28, 2022Oct 27, 2022Mar 1, 2023Apr 27, 2023Jul 27, 2023Oct 26, 2023Feb 29, 2024Apr 25, 2024Aug 1, 2024Oct 31, 2024Feb 26, 2025May 1, 2025Jul 31, 2025Oct 30, 2025Feb 25, 2026Apr 23, 2026Jul 29, 2026Oct 29, 2026
EPS Estimate0.180.260.140.050.160.280.130.050.230.290.140.080.070.310.14-0.100.170.330.170.100.210.330.19-0.240.260.110.050.170.210.080.080.250.300.130.010.220.360.160.050.250.270.150.060.280.360.130.040.180.380.170.050.200.370.180.040.250.470.160.060.290.500.170.030.250.610.180.040.330.580.09-0.270.520.06-0.070.290.680.170.010.370.670.200.030.240.570.200.050.320.680.220.050.350.700.280.070.340.790.320.020.591.110.51-0.020.420.860.220.030.551.070.31-0.080.490.721.240.360.411.020.160.160.560.940.330.220.791.22
EPS Actual0.140.260.150.050.230.340.130.120.350.310.140.060.140.360.170.080.220.310.140.050.190.300.120.010.190.200.100.060.220.250.08-0.020.150.270.210.040.300.280.100.020.210.360.160.020.160.340.160.040.190.340.200.010.240.530.180.060.290.470.160.050.250.490.120.030.290.500.040.030.310.860.12-0.030.280.610.12-0.110.310.700.240.030.210.520.18-0.020.240.480.310.020.390.700.29-0.050.210.730.32-0.230.350.880.17-0.420.111.940.31-0.060.751.200.070.020.361.030.35-0.400.170.600.521.210.701.030.330.220.711.030.190.070.93-
Surprise-22.22%0.00%7.14%0.00%43.75%21.43%0.00%140.00%52.17%6.90%0.00%-25.00%100.00%16.13%21.43%180.00%29.41%-6.06%-17.65%-50.00%-9.52%-9.09%-36.84%--20.83%-23.08%-9.09%20.00%29.41%19.05%0.00%-125.00%-40.00%-10.00%61.54%300.00%36.36%-22.22%-37.50%-60.00%-16.00%33.33%6.67%-66.67%-42.86%-5.56%23.08%0.00%5.56%-10.53%17.65%-80.00%20.00%43.24%0.00%50.00%16.00%0.00%0.00%-16.67%-13.79%-2.00%-29.41%0.00%16.00%-18.03%-77.78%-25.00%-6.06%48.28%33.33%-3.70%17.31%100.00%-57.14%6.90%2.94%41.18%200.00%-43.24%-22.39%-10.00%-166.67%0.00%-15.79%55.00%-60.00%21.88%2.94%31.82%-200.00%-40.00%4.29%14.29%-428.57%2.94%11.39%-46.88%-2459.55%-81.36%74.77%-39.22%-200.00%78.57%39.53%-68.18%-33.33%-34.55%-3.74%12.90%-400.00%-65.31%-16.67%-58.06%236.11%70.73%0.98%102.08%37.50%26.79%9.57%-42.42%-67.82%17.72%-
Timing-------Pre-marketPre-marketPre-marketPre-market--------------After-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hours-After-hoursAfter-hoursAfter-hours-After-hoursAfter-hoursAfter-hoursAfter-hours-After-hoursAfter-hoursAfter-hours-After-hoursAfter-hours-After-hoursAfter-hoursAfter-hours-After-hoursAfter-hoursAfter-hours-After-hoursAfter-hoursAfter-hours-After-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketAfter-hoursPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketAfter-hours-After-hoursAfter-hours

Key Statistics & Ratios

Market Cap2.84B
Enterprise Value4.48B
Trailing P/E20.63
Forward P/E17.45
PEG Ratio2.22
Price / Sales2.70
Price / Book1.62
EPS2.23
Book Value29.23
Revenue (TTM)1.05B
Gross Profit (TTM)561.84M
EBITDA361.32M
Profit Margin12.63%
Operating Margin28.21%
Return on Equity7.68%
Return on Assets2.40%
Shares Outstanding61.84M
Shares Float61.34M
Beta0.49
Dividend Yield2.91%
Dividend Rate1.34
Payout Ratio58.78%

Analyst Ratings

Strong Buy
Based on 5 analystsTarget 53.75
  • Strong Buy
    5

Ownership Breakdown

Institutions
98.29%
Insiders
0.64%
Retail / Other
1.07%

Top Institutional Holders

  • BlackRock Inc
    10.31M16.67%
  • Vanguard Portfolio Management, LLC
    4.29M6.94%
  • Amundi
    3.47M5.61%
  • T. Rowe Price Investment Management,Inc.
    3.42M5.53%
  • State Street Corp
    3.10M5.02%
  • Vanguard Capital Management, LLC
    2.67M4.31%
  • ATLAS Infrastructure Partners (UK) Ltd
    1.98M3.21%
  • Geode Capital Management, LLC
    1.48M2.39%
  • FMR Inc
    1.39M2.25%
  • First Trust Advisors L.P.
    1.30M2.10%
  • Dimensional Fund Advisors, Inc.
    1.17M1.90%
  • Morgan Stanley - Brokerage Accounts
    1.12M1.81%
  • Mariner Value Strategies, LLC
    1.10M1.77%
  • Amvescap Plc.
    1.00M1.62%

Top Fund Holders

  • iShares Core S&P Small-Cap ETF
    3.65M5.90%
  • Vanguard MStar Total Stk Mkt Idx Invest
    1.91M3.08%
  • iShares Russell 2000 ETF
    1.55M2.51%
  • Vanguard Small Cap Index
    1.38M2.23%
  • Fidelity Small Cap Value Fund
    1.15M1.86%
  • Amundi KBI Aqua C
    1.11M1.79%

Dividends

20264×
0.34Nov 9, 20260.34Aug 10, 20260.34May 11, 20260.34Feb 9, 2026
20254×
0.30Nov 10, 20250.30Aug 11, 20250.30May 12, 20250.30Feb 10, 2025
20244×
0.28Nov 12, 20240.28Aug 12, 20240.28May 3, 20240.26Feb 9, 2024
20234×
0.26Nov 3, 20230.26Aug 4, 20230.26May 5, 20230.26Feb 3, 2023
20224×
0.25Nov 4, 20220.25Aug 5, 20220.25May 6, 20220.25Feb 4, 2022
20214×
0.23Nov 5, 20210.23Aug 6, 20210.23May 7, 20210.23Feb 5, 2021

Stock Splits

  • Jun 13, 20112:1
  • Jan 26, 19982:1