LIBERTY LAKE, Wash. (AP) _ Itron Inc. (ITRI) on Monday reported second-quarter earnings of $19.4 million.
On a per-share basis, the Liberty Lake, Washington-based company said it had profit of 49 cents. Earnings, adjusted for one-time gains and costs, came to 87 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The energy and water meter company posted revenue of $635 million in the period.
Itron expects full-year earnings in the range of $2.80 to $3 per share, with revenue in the range of $2.45 billion to $2.5 billion.
Itron shares have increased 23% since the beginning of the year. In the final minutes of trading on Monday, shares hit $57.96, a drop of almost 3% in the last 12 months.