LIBERTY LAKE, Wash. (AP) — LIBERTY LAKE, Wash. (AP) — Itron Inc. (ITRI) on Thursday reported first-quarter net income of $65.5 million.
The Liberty Lake, Washington-based company said it had profit of $1.42 per share. Earnings, adjusted for one-time gains and costs, came to $1.52 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.
The energy and water meter company posted revenue of $607.2 million in the period, missing Street forecasts. Six analysts surveyed by Zacks expected $614.3 million.
For the current quarter ending in June, Itron expects its per-share earnings to range from $1.30 to $1.40.
The company said it expects revenue in the range of $605 million to $615 million for the fiscal second quarter.
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