LIBERTY LAKE, Wash. (AP) _ Itron Inc. (ITRI) on Monday reported third-quarter profit of $16.8 million.
On a per-share basis, the Liberty Lake, Washington-based company said it had profit of 42 cents. Earnings, adjusted for one-time gains and costs, came to $1.04 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.
The energy and water meter company posted revenue of $624.5 million in the period.
Itron shares have increased 64% since the beginning of the year. In the final minutes of trading on Monday, shares hit $77.40, an increase of 42% in the last 12 months.