LIBERTY LAKE, Wash. (AP) _ Itron Inc. (ITRI) on Monday reported fourth-quarter net income of $14.6 million.
On a per-share basis, the Liberty Lake, Washington-based company said it had net income of 36 cents. Earnings, adjusted for one-time gains and costs, came to 72 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The energy and water meter company posted revenue of $628.4 million in the period.
For the year, the company reported net income of $49 million, or $1.23 per share, swinging to a profit in the period. Revenue was reported as $2.5 billion.
Itron expects full-year earnings in the range of $3.35 to $3.85 per share, with revenue in the range of $2.48 billion to $2.58 billion.
Itron shares have decreased 6.5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $78.52, a rise of 28% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ITRI at https://www.zacks.com/ap/ITRI
Automated Insights, source Associated Press News