UPDATE 1-Itron Q3 tops Street view, shares rise

* Q3 adj EPS $1.06 vs est $0.86

* Q3 rev up 41 pct

* Says excited about potential for additional projects

* Shares up 6 pct after-mkt

Oct 27 (BestGrowthStock) – Power meter maker Itron Inc (ITRI.O: )
posted market-beating third-quarter results partly helped by
higher shipments of smart meters and modules in North America,
and said it is excited about the potential for additional
projects, sending its shares up 6 percent after market.

For the July-Sept quarter, the company reported net income
of $29.1 million, or 71 cents a share, compared with a net loss
of $3.0 million, or 7 cents a share, a year ago.

Excluding items, it earned $1.06 a share.

Itron, which makes electricity, gas and water meters, saw
revenue rise 41 percent to $576.0 million. North American
revenues jumped about 130 percent to $315.3 million.

Analysts on an average were expecting the company to earn
86 cents a share, before special items, on revenue of $531.7
million, according to Thomson Reuters I/B/E/S.

Separately, Itron said it has signed three major contracts
with the Indonesian state-owned electricity utility PT
Perusahaan Listrik Negara to supply 800,000 keypad smart
payment residential meters to the Java Bali region by the end
of the year.

Shares of the company, which closed at $62.96 Wednesday on
Nasdaq, were trading up 6 percent after market.
(Reporting by Fareha Khan in Bangalore; Editing by Roshni
Menon)

UPDATE 1-Itron Q3 tops Street view, shares rise