Badger Meter Down Despite Upbeat Results

(RTTNews) - Shares of Badger Meter, Inc. (BMI), a provider of flow measurement, water quality and control products, are falling more than 6% Friday morning despite reporting upbeat quarterly results.

Profit for the fourth quarter increased to $24.72 million or $0.84 per share from $17.54 million or $0.60 per share in the same quarter a year ago. On average analysts polled by Thomson-Reuters expected the company to report earnings of $0.82 per share.

Sales were $182.44 million, 24% higher than the prior year's $147.32 million. The consensus estimate stood at $182.32 million.

BMI, currently at $142.09, has traded in the range of $103.93 - $170.86 in the last 1 year.