LIBERTY LAKE, Wash. (AP) 鈥� LIBERTY LAKE, Wash. (AP) 鈥� Itron Inc. (ITRI) on Tuesday reported first-quarter earnings of $53.5 million.
The Liberty Lake, Washington-based company said it had profit of $1.18 per share. Earnings, adjusted for one-time gains and costs, were $1.49 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.26 per share.
The energy and water meter company posted revenue of $587 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $571 million.
For the current quarter ending in June, Itron expects its per-share earnings to range from $1.25 to $1.35.
The company said it expects revenue in the range of $560 million to $570 million for the fiscal second quarter.
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