Last week, Itron Inc. (ITRI) reported third-quarter earnings of 45 cents per share, below the Zacks Consensus Estimate of 51 cents and 44% lower than the prior-year level. Earnings disappointment was primarily a result of uncertainty surrounding stimulus fund allocation and unfavorable foreign currency exchange rates. Quarterly revenue of $408.4 million was down 15.8% from $484.8 million in the third quarter of 2008. Itron North America revenue was 22% lower than that in the comparable quarter of 2008 due to the completion of a number of AMR contracts in 2008 and fewer electric meters shipped during the quarter as customers delayed orders due to uncertainty regarding the stimulus bill. International revenues fell 12% from the year-ago level. Majority of this decline was caused by the unfavorable impact of foreign exchange rates. The other factors leading to lower international revenue were the completion of a smart metering/AMI ...

Itron Inc. (ITRI) reported second-quarter EPS of $0.49, in line with the Zacks Consensus Estimate. Quarterly EPS declined 52.0% year over year due to uncertainty related to stimulus funds and volatility in foreign currency exchange rates.   Quarterly revenue of $413.7 million was down 19.5% from $513.9 million in the second quarter of 2008. Itron North America (INA) revenue was 21% lower than that in the comparable quarter of 2008 primarily due to the completion of a number of AMR contracts in 2008 and fewer electric meters shipped during the quarter as customers delayed orders due to uncertainty regarding the stimulus bill.   International revenues were 18% lower compared to the prior-year quarter. Majority of this decline was caused by the unfavorable impact of foreign exchange rates. The other factors leading to lower international revenue were the completion of a smart metering/AMI project in 2008 and lower revenue in

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