Itron (ITRI) Tops Q1 EPS by 9c

Itron (NASDAQ: ITRI) reported Q1 EPS of $0.57, $0.09 better than the analyst estimate of $0.48. Revenue for the quarter came in at $478 million versus the consensus estimate of $469.25 million.

• Revenues of $478 million, compared with $498 million in the first quarter of 2016;
• Gross margin of 32.9 percent, an increase of 10 basis points compared with the first quarter of 2016;
• GAAP diluted earnings per share of 40 cents, an increase of 54 percent compared with the first quarter of 2016; and
• Non-GAAP diluted earnings per share of 57 cents, an increase of 30 percent compared with the first quarter of 2016.

“Our first quarter results demonstrate a strong start to 2017,” said Philip Mezey, Itron’s president and chief executive officer. "We increased earnings and cash flow in the quarter through our focus on better predictability and greater profitability in our operations. Looking forward, investments in our OpenWay Riva™ IoT solution and differentiated software and services offerings, combined with our ongoing operational discipline, strongly position us to serve our customers and generate continued improvement in our financial results."

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

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