Itron revises net income to $3.1 million for second quarter

Aug. 10, 2001
Itron, Inc., today re-released its financial results for the quarter-ended June 30, 2001.

SPOKANE, Wash., Aug. 10, 2001 — Itron, Inc., today re-released its financial results for the quarter-ended June 30, 2001.

Itron previously released results for the quarter on July 17, 2001. Subsequently, information became available to the company that resulted in a reassessment of restructuring reserves, primarily related to the sublease of facility space the Company had previously vacated in Lakeville, Minn.

As a result of the reassessment, restructuring reserves were reduced by $807,000 during the second quarter of 2001. This resulted in an increase to after-tax net income for Q2 2001, from what had previously been reported, of $500,000. Diluted earnings per share for Q2 2001 are 18 cents versus the 15 cents previously reported. The balance in the company's remaining restructuring reserves at June 30, 2001 is approximately $1.4 million. The company expects to file its Form 10-Q for the second quarter of 2001 the week of August 13, 2001.

Itron, Inc. is a technology provider and source of knowledge to the energy and water industry for collecting, analyzing, and applying critical data about electric, gas, and water usage.

Sponsored Recommendations

Meet the future of MV switchgear

SureSeT new-generation metal-clad. Smarter. Smaller. Stronger.

A digital circuit breaker built for the future

EvoPacT medium voltage digital vacuum circuit breaker

The New Generation of Intelligent MV Switchgear

Step into the future of electrical infrastructure with Intelligent MV Switchgear - where traditional equipment becomes smart, providing real-time data on critical components like...

Switchgear goes digital with SureSeT

Discover what you can do with Square D natively digital MV metal-clad switchgear.