Itron, Inc. (NASDAQ:ITR) Updates 2008 Guidance

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09:27:20 am on January 14, 2009

Itron, Inc. affirmed its full year 2008 guidance yesterday. The company expects to perform within the guidelines it released in October:

Revenue:  Between $1.91 billion and $1.93 billion

Diluted Non-GAAP Earnings Per Share: between $3.35 and $3.45 per share

Adjusted EBITDA: Over $280 million

However, the company expects the final number to fall on the lower end of the ranges given above. They also confirmed their predictions for growth in 2009. The company expects 2009 revenue  "to be relatively flat compared with 2008, and non-GAAP EPS was expected to grow in the low to mid teens."

According to LeRoy Nosbaum, Itron’s Chairman and CEO, "Given the economic situation, concerns expressed by some investors and because we do not report earnings until February 18, 2009, we believed that it was worthwhile to update the market on our expected results for 2008 and current expectations for 2009."

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