LIBERTY LAKE, Wash. (AP) — LIBERTY LAKE, Wash. (AP) — Itron Inc. (ITRI) on Thursday reported first-quarter earnings of $51.7 million.
The Liberty Lake, Washington-based company said it had net income of $1.12 per share. Earnings, adjusted for amortization costs and non-recurring costs, were $1.24 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.
The energy and water meter company posted revenue of $603.4 million in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $579.6 million.
For the current quarter ending in June, Itron expects its per-share earnings to range from 90 cents to $1.
The company said it expects revenue in the range of $595 million to $605 million for the fiscal second quarter.
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