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Badger Meter Reports First Quarter 2019 Results
MILWAUKEE--(BUSINESS WIRE)--April 17, 2019--Badger Meter, Inc. (NYSE: BMI) today reported results for the first quarter ended March 31, 2019.
First Quarter 2019 Highlights
- Net sales for the first quarter of 2019 were $104.9 million, level with the prior year’s sales of $105.0 million in the first quarter of 2018.
- Net earnings and diluted earnings per share (EPS) were $10.8 million and $0.37, respectively, compared to $7.5 million and $0.26 in the comparable prior year period, a 42% year-over-year EPS increase.
- $17.8 million of cash provided by operations representing strong earnings conversion.
- Announced meaningful technology wins with Columbia, SC and Aurora, CO which demonstrate the increasing market acceptance for cellular as the standard Advanced Metering Infrastructure (AMI) solution of choice for water utilities.
First Quarter Operating Results
“While we experienced outstanding improvement in profitability year-over-year, our first quarter sales were modestly impacted by inclement weather and deferred orders by customers awaiting our next generation large static meters and LTE-M radio products. This typical uneven demand pattern does not deter our view on the overall market environment which remains solid, as evidenced by the two sizable smart water contract awards we recently announced with Columbia, SC and Aurora, CO,” said Kenneth C. Bockhorst, President and Chief Executive Officer of Badger Meter.
The following information was filed by Badger Meter Inc (BMI) on Wednesday, April 17, 2019 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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