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The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

Itron Revenues Rise, But Earnings Drop

From Staff And Wire Reports

Itron Inc. Wednesday reported slightly lower earnings for the fourth quarter despite record revenues of $42.2 million.

The Spokane maker of automatic meter-reading equipment for utilities showed net income of $2.6 million, or 21 cents per share, compared with $2.8 million, or 23 cents per share, for the fourth quarter of 1994.

For the year, Itron earned $10.1 million, or 79 cents per share, compared with $8 million, or 67 cents per share, in 1994. Revenues increased 29 percent to $155.4 million.

President Johnny Humphreys said business is accelerating, boosted by major contracts with Public Service Company of Colorado and Duquesne Light Co. of Pittsburgh.

The number of utilities working with Itron on automatic meter-reading systems was up 77 percent from a year ago, to 181, and the backlog of orders scheduled for delivery in 1996 was $72 million. , DataTimes