Badger Meter Implements Temporary Cost Containment Actions - Quick Facts

(RTTNews) - Badger Meter, Inc. (BMI) said, as response to uncertainties related to the COVID-19 pandemic, the company has implemented temporary cost containment actions, including reductions in discretionary spending, a hiring freeze, reduced work hour furloughs and executive salary reductions.

Kenneth Bockhorst, CEO of Badger Meter, said: "We remain committed to effectively managing working capital and cash costs in order to preserve liquidity. We have approximately $70 million in cash on the balance sheet, and $125 million of revolving credit availability that we believe provides us sufficient capacity to fund foreseeable needs, including the quarterly dividend."