Itron Q3 Profit Tops Estimates, But Revenues Miss - Quick Facts

(RTTNews) - Itron, Inc. (ITRI) on Thursday reported a net loss attributable to the company of $1.87 million or $0.04 per share, sharply narrower than $25.36 million or $0.63 per share in the prior-year quarter. Excluding items, adjusted earnings per share for the quarter were $0.21, compared to $0.61 last year.

Total revenues for the quarter declined 11 percent to $486.95 million from $540.18 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.18 per share on revenues of $527.45 million for the quarter. Analysts' estimates typically exclude special items.

On Monday, the Board of Directors at Itron authorized a new share repurchase program of up to $100 million of Itron's common stock over an 18-month period.