LIBERTY LAKE, Wash. (AP) _ Itron Inc. (ITRI) on Monday reported second-quarter profit of $2.7 million.
On a per-share basis, the Liberty Lake, Washington-based company said it had profit of 7 cents. Earnings, adjusted for one-time gains and costs, came to 51 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The energy and water meter company posted revenue of $585.9 million in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $591.1 million.
Itron expects full-year earnings in the range of $2.75 to $2.90 per share, with revenue in the range of $2.42 billion to $2.48 billion.
Itron shares have fallen 11 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $60.55, a fall of 16 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ITRI at https://www.zacks.com/ap/ITRI