Itron Slips To Loss; Softens Outlook - Quick Facts

(RTTNews) - Itron Inc. (ITRI) Wednesday reported third-quarter net loss of $7 million or $0.19 per share compared with net income of $35 million or $0.89 per share last year.

Excluding items, adjusted earnings for the quarter were $25 million or $0.65 per share compared with $38.7 million or $0.97 per share a year ago.

Revenues for the quarter were lower at $495.5 million compared with $504 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.66 per share on revenues of $508.35 million for the quarter. Analysts' estimates typically exclude special items.

Operating expenses for the quarter were higher at $157 million compared with $126 million last year and includes restructuring costs of $28 million.

Looking ahead, the company expects full-year results to be at the low end of its guidance range of $1.95 billion to $2 billion for revenue and $2.25 to $2.55 for adjusted earnings per share. It cited the weak third-quarter results and softness in Europe as the reasons for the updated guidance.

Analysts expect earnings of $2.39 per share on revenues of $1.97 billion for the year.

Itron is technology company. It builds solutions that help utilities measure, monitor and manage energy and water.