Itron Q1 Profit Declines, Yet Beats Estimates

(RTTNews) - Itron Inc. (ITRI) Monday announced a decline in first-quarter net profit for the first quarter compared to the prior year as revenues were down.

The company posted quarterly profit attributable to the company of $906 thousand or $0.02 per share compared to $12.60 million or $0.30 per share in the previous year. On an adjusted basis, earnings were $0.11 per share. On average, 10 analysts polled by Thomson Reuters were looking for $0.10 per share. Analysts estimates usually exclude special items.

Revenue for the first quarter were $475.33 million, while it was up $519.57 million last year.