Itron Inc.
Liberty Lake maker of utility products
| Stock symbol: ITRI |
| Reporting period: 2Q |
| Earnings:
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.” |