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Itron, Inc. (ITRI) Tops Q3 EPS by 3c

November 4, 2014 4:02 PM EST

Itron, Inc. (NASDAQ: ITRI) reported Q3 EPS of $0.39, $0.03 better than the analyst estimate of $0.36. Revenue for the quarter came in at $496 million versus the consensus estimate of $479.7 million.

“Our third quarter revenues and bookings were strong and we continue to grow our backlog with new smart grid projects around the world,” said Philip Mezey, Itron’s president and chief executive officer. “Additionally, we are executing well on a number of initiatives to drive growth and profit improvement, including plans to improve the profitability of the Electricity segment.”

“I am encouraged by the improved visibility for revenue growth that our increased backlog provides, and I am confident in our ability to execute on our operational plans,” continued Mr. Mezey. “As we move forward with these key steps to achieve our long-term profitability goals, we also plan to immediately increase the rate of our share repurchases and fully utilize the $50 million authorized by the board.”

For earnings history and earnings-related data on Itron, Inc. (ITRI) click here.



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