August 2, 2013 in Business

Itron Inc.

Liberty Lake maker of utility products
Stock symbol:ITRI
Reporting period: 2Q

Profit of $12.4 million

31 cents per share

Versus 2Q 2012:

Profit of $31.6 million

79 cents per share

Revenue: $482.2 million. In 2Q 2012, revenue was $579 million.
Analysis: Compared to 2012, Itron’s total revenues declined by 17 percent in the second quarter, primarily due to the impact of the planned ramp-down of its top five smart-meter contracts in North America. CEO Philip Mezey said second-quarter earnings are “far below acceptable.”

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