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Badger Meter Reports Record Sales and Earnings Per Share for 2012
MILWAUKEE--(BUSINESS WIRE)--February 6, 2013--Badger Meter, Inc. (NYSE: BMI) today reported results for the fourth quarter and year ended December 31, 2012.
Fourth Quarter 2012 Highlights
- Net sales were a fourth quarter record $74,323,000, a 22.4% increase from sales of $60,710,000 for the fourth quarter of 2011.
- Net earnings were $5,484,000 for the fourth quarter of 2012, a 362.0% increase from net earnings of $1,187,000 for the fourth quarter of 2011.
- Diluted earnings per share were $0.39 for the fourth quarter of 2012, a 387.5% increase from diluted earnings per share of $0.08 for the fourth quarter of 2011.
Full Year 2012 Highlights
- Net sales for 2012 were a record $319,660,000, a 21.6% increase from sales of $262,915,000 for 2011.
- Net earnings were $28,032,000 for 2012, a 46.3% increase from net earnings of $19,161,000 for 2011.
- Diluted earnings per share were a record $1.95 for 2012, a 53.5% increase from diluted earnings per share of $1.27 for 2011.
“We ended 2012 with a solid fourth quarter that helped us achieve record sales and higher earnings per share for the year. The increase in fourth quarter sales was due to the acquisition of Racine Federated, Inc. in January 2012, along with higher sales of products for the municipal water market, particularly residential water meters,” said Richard A. Meeusen, chairman, president and chief executive officer of Badger Meter. He noted that net earnings for the fourth quarter of 2012 included nearly $0.05 of expenses related to a non-cash pension charge.
The following information was filed by Badger Meter Inc (BMI) on Wednesday, February 6, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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