Water Industry News

Badger Meter 4Q Profit More Than Doubles

Feb. 6, 2006

MILWAUKEE Badger Meter Inc., a provider of measuring instruments for utilities and industrial customers, said Monday fourth-quarter earnings more than doubled as revenue grew 4 percent.

Earnings surged to $1.7 million, or 24 cents per share, up from the year-ago quarter's profit of $817,000, or 12 cents per share. Sales rose to $50.6 million from $48.5 million.

The company said sales for the fourth quarter, which is typically a slower period, increased on strong results at its commercial water meter line and continued growth of the Orion automatic meter reading system.

Badger Meter's operations in France, however, continued to struggle and the company said it is "exploring options for the future of this business."

For the full year, Badger Meter's earnings increased 38 percent to $13.3 million, or $1.89 per share, up from 2004's profit of $9.6 million, or $1.42 per share. Annual sales increased 6 percent to $216.7 million from $205 million.

Badger Meter shares fell $1.61, or 3.1 percent, to $50 in midday trading on the American Stock Exchange. The stock has traded between $26.12 and $52.55 over the past 52 weeks.