LIBERTY LAKE, Wash. (AP) — LIBERTY LAKE, Wash. (AP) — Itron Inc. (ITRI) on Tuesday reported second-quarter net income of $53.3 million.
On a per-share basis, the Liberty Lake, Washington-based company said it had profit of $1.19. Earnings, adjusted for non-recurring costs, were $1.59 per share.
The results topped 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 $562.9 million in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $564.7 million.
For the current quarter ending in September, Itron expects its per-share earnings to range from $1.50 to $1.60.
The company said it expects revenue in the range of $590 million to $600 million for the fiscal third quarter.
Itron expects full-year earnings in the range of $6.30 to $6.50 per share, with revenue ranging from $2.37 billion to $2.41 billion.
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