ITRI FY 2010 Earnings Report — Itron, Inc. Revenue & Financial Results | Market Cap Arena

Itron, Inc.ITRI

FY 2010 Earnings

Reported February 24, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$2.3B	—	$1.7B	—	33.9%
Op. Income	$184M	—	$45M	—	309.1%
Gross Margin	30.9%	—	31.9%	—	-0.9pp
Net Margin	4.6%	—	-0.1%	—	4.8pp
EPS (Diluted)	$2.56	—	$-0.06	—	4483.6%
Free Cash Flow	$192M	—	$88M	—	118.2%

Revenue Flow

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$1.6B
GROSS PROFIT	$698M
R&D Expenses	$140M
Selling & Marketing	$172M
General & Administrative	$133M
SG&A Expenses	$305M
Other Expenses	$69M
Operating Expenses	$514M
Cost & Expenses	$2.1B
OPERATING INCOME	$184M
Interest Income	$592.0K
Interest Expense	$55M
Other Income/Expenses	-$63M
INCOME BEFORE TAX	$121M
Income Tax Expense	$16M
Net Income from Continuing Ops	$108M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$105M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$105M
D&A	$131M
EBIT	$179M
EBITDA	$307M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$1.6B
GROSS PROFIT	$698M
R&D Expenses	$140M
Selling & Marketing	$172M
General & Administrative	$133M
SG&A Expenses	$305M
Other Expenses	$69M
Operating Expenses	$514M
Cost & Expenses	$2.1B
OPERATING INCOME	$184M
Interest Income	$592.0K
Interest Expense	$55M
Other Income/Expenses	-$63M
INCOME BEFORE TAX	$121M
Income Tax Expense	$16M
Net Income from Continuing Ops	$108M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$105M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$105M
D&A	$131M
EBIT	$179M
EBITDA	$307M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$105M
Depreciation & Amortization	$131M
Stock-Based Compensation	$19M
Deferred Income Tax	-$18M
Other Non-Cash Items	$21M
Change in Working Capital	-$4M
OPERATING CASH FLOW	$255M
Capital Expenditure	-$63M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$7M
NET CASH FROM INVESTING	-$56M
Net Debt Issuance	-$155M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$2M
NET CASH FROM FINANCING	-$149M
FREE CASH FLOW	$192M
Net Change in Cash	$48M

Balance Sheet

Item	Amount
Cash & Equivalents	$169M
Short-Term Investments	$0
Net Receivables	$372M
Inventory	$208M
Other Current Assets	$133M
TOTAL CURRENT ASSETS	$882M
PP&E (Net)	$299M
Goodwill	$1.2B
Intangible Assets	$292M
Long-Term Investments	$4M
Tax Assets	$35M
Other Non-Current Assets	$24M
TOTAL NON-CURRENT ASSETS	$1.9B
TOTAL ASSETS	$2.7B
Account Payables	$242M
Short-Term Debt	$229M
Deferred Revenue	$28M
Other Current Liabilities	$75M
TOTAL CURRENT LIABILITIES	$704M
Long-Term Debt	$382M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$54M
Other Non-Current Liabilities	$116M
TOTAL NON-CURRENT LIABILITIES	$614M
TOTAL LIABILITIES	$1.3B
Common Stock	$1.3B
Additional Paid-In Capital	$1.3B
Retained Earnings	$135M
Treasury Stock	$0
Accum. Other Comp. Income	-$35M
Other Equity	-$1.3B
TOTAL STOCKHOLDERS' EQUITY	$1.4B
Minority Interest	$0
TOTAL EQUITY	$1.4B
TOTAL LIABILITIES & EQUITY	$2.7B
Total Debt	$611M
Net Debt	$441M