LIBERTY LAKE, Wash. (AP) _ Itron Inc. (ITRI) on Monday reported third-quarter profit of $19.9 million.
On a per-share basis, the Liberty Lake, Washington-based company said it had net income of 50 cents. Earnings, adjusted for one-time gains and costs, were $1.13 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 89 cents per share.
The energy and water meter company posted revenue of $596 million in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $606.1 million.
Itron expects full-year earnings in the range of $2.40 to $2.50 per share, with revenue in the range of $2.37 billion to $2.39 billion.
Itron shares have dropped 20 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $54.77, a drop of 21 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