Our global customer base surpassed both the 400,000 RCE and 500,000 meter milestones, powered by expansion in both our domestic markets and overseas books.
Here in the US, Genie Retail Energy added a net 20,000 RCEs and 15,000 meters during the quarter.
GRE closed the quarter serving 330,000 RCEs comprising 384,000 meters.
Overseas, where more of our customer base resides in apartments and average consumption is significantly lower, GRE International added 7,000 RCEs and 20,000 meters to close the quarter serving 72,000 RCEs comprising 148,000 meters.
By March 31st, we had increased our global customer base to 401,000 RCEs served and 532,000 meters.
During the trailing 12 months, we increased our RCEs served by 20% or just over 68,000 and increased global meters served by 33% or 133,000 meters.
Customer churn in the first quarter decreased again to 4.7% per month from 5.3% per month in the first quarter of 2019.
For additional perspective, our average churn over the past 12 months is 5.4% versus 6.6% in the 12 months proceeding.
We've already added approximately 10,000 in our seasonal Lone Star State.
As a result, our outlook remains positive.
Our geographically diversified markets, liquid balance sheet and very low level of long-term debt put us in a great position to build on the first quarter's momentum.
Last year, in addition to paying $0.30 in aggregate dividends to our common stockholders, we repurchased $5.6 million of common stock.
Today, in light of the resilience of our business, its underlying strength and the abundant growth opportunities, Genie's Board of Directors has increased our quarterly dividend to $0.085, a 13% increase.
Consolidated revenue in the first quarter increased $17.4 million to $104.1 million.
$12.7 million of the increase was contributed by our Genie Energy Services division.
Revenue jumped to $18 million on the fulfillment of outstanding solar panel orders by our Prism Solar subsidiary.
Genie Retail Energy contributed $79.1 million in revenue, an increase of $2.6 million, compared to the year ago quarter.
Robust growth in our electric meter customer base over the past 12 months drove a 17% increase in kilowatt hours sold, more than offsetting a slight decrease in per unit revenue.
This was partially offset by a decline in revenue contribution from the gas book as we experienced lower consumption and pricing per therm.
At Genie Retail Energy International, revenue totaled $7 million, an increase of $2.1 million from the year ago quarter.
Consolidated gross profit in the first quarter increased $3.3 million to $28.9 million, also a record for the company.
GRE contributed $27.6 million of that total, an increase of $2.9 million from the year ago quarter, predominantly reflecting the increase in kilowatt hours sold, a modest increase in margin per kilowatt hour and a decrease in cost per therm sold.
Increased rates of customer acquisition at GRE drove an increase in consolidated SG&A expense to $19.5 million in the first quarter, $3.7 million higher than the year ago period.
Equity and the net loss of investees, which is comprised of our investments in Orbit Energy and our minority stake in Atid, decreased to $379,000 from $797,000 in the first quarter of 2019, as we made no additional investments in either entity during the quarter.
Our consolidated income from operations came in at $9.2 million, compared to $9.8 million in the year ago quarter, as the increase in customer acquisition expense narrowly offset the gain in gross profit.
Adjusted EBITDA was $10.3 million, effectively even with the year ago quarter.
EPS was $0.20 per diluted share, $0.01 below the year ago quarter.
At March 31st, we reported $157.2 million in total assets, including $36.4 million in cash, cash equivalents and restricted cash.
Liabilities totaled $71.5 million, of which just $2.2 million were non-current.
And net working capital totaled $51.5 million, an increase of $10.3 million from our total three months ago.
Cash used in operating activities was $2.7 million in the first quarter of 2020, compared to cash provided by operating activities of $7 million in the year ago period.
As Michael mentioned, supported by a strong outlook, the Board of Directors has approved an increase in the quarterly dividend to $0.085 a share, a 13% increase.
The indicative annual dividend rate is now $0.34 per share.

Summary:
As a result, our outlook remains positive.
Our geographically diversified markets, liquid balance sheet and very low level of long-term debt put us in a great position to build on the first quarter's momentum.
Today, in light of the resilience of our business, its underlying strength and the abundant growth opportunities, Genie's Board of Directors has increased our quarterly dividend to $0.085, a 13% increase.
Consolidated revenue in the first quarter increased $17.4 million to $104.1 million.
This was partially offset by a decline in revenue contribution from the gas book as we experienced lower consumption and pricing per therm.
EPS was $0.20 per diluted share, $0.01 below the year ago quarter.
At March 31st, we reported $157.2 million in total assets, including $36.4 million in cash, cash equivalents and restricted cash.
As Michael mentioned, supported by a strong outlook, the Board of Directors has approved an increase in the quarterly dividend to $0.085 a share, a 13% increase.