Liberty Lake-based Itron reports improved 3Q results

Liberty Lake-based Itron Inc., which sells products and services for water and energy utilities worldwide, reported improved thir-quarter results Thursday.

Itron’s net income was $26 million, or 65 cents per share, on revenues of $487 million. During the third quarter of 2016, Itron reported a net loss of $10 million, or 26 cents per share, on revenues of $507 million.

Itron’s quarterly earnings were lower than expected, but should rebound during the fourth quarter, company President and CEO Philip Mezey said in a news release.

Third-quarter earnings were influenced by shipment delays in North America and continued delays of water projects in other parts of the world, Mezey said. During the quarter, Itron worked to improve efficiency, consolidate manufacturing operations and ramp up deliveries of new products, he said.