LIBERTY LAKE, Wash. (AP) — LIBERTY LAKE, Wash. (AP) — Itron Inc. (ITRI) on Thursday reported second-quarter profit of $68.3 million.
On a per-share basis, the Liberty Lake, Washington-based company said it had net income of $1.47. Earnings, adjusted for one-time gains and costs, were $1.62 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.
The energy and water meter company posted revenue of $606.8 million in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $609.3 million.
For the current quarter ending in September, Itron expects its per-share earnings to range from $1.45 to $1.55.
The company said it expects revenue in the range of $570 million to $585 million for the fiscal third quarter.
Itron expects full-year earnings in the range of $6 to $6.20 per share, with revenue ranging from $2.35 billion to $2.4 billion.
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