LIBERTY LAKE, Wash. (AP) — LIBERTY LAKE, Wash. (AP) — Itron Inc. (ITRI) on Monday reported fourth-quarter net income of $22.2 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Liberty Lake, Washington-based company said it had net income of 49 cents. Earnings, adjusted for one-time gains and costs, came to 71 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The energy and water meter company posted revenue of $467.5 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $437.7 million.
For the year, the company reported that its loss narrowed to $9.7 million, or 22 cents per share. Revenue was reported as $1.8 billion.
For the current quarter ending in March, Itron expects its per-share earnings to range from 5 cents to 15 cents.
The company said it expects revenue in the range of $460 million to $475 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $497.7 million.
Itron expects full-year earnings in the range of 70 cents to $1.10 per share, with revenue ranging from $1.85 billion to $1.95 billion.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ITRI at https://www.zacks.com/ap/ITRI
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