WASHINGTON (dpa-AFX) - Badger Meter Inc. (BMI) reported third-quarter net earnings of $6.9 million or $0.46 per share, compared to $9.0 million or $0.60 per share in the comparable quarter last year.
Net sales for the quarter decreased 7.9 percent to $69.70 million from $75.70 million last year.
'Our third quarter sales were impacted by a continued slowdown in spending and new projects by a number of customers in the municipal water market,' said Richard Meeusen, chairman, president and chief executive officer of Badger Meter.
On average, analysts polled by Thomson Reuters expected the company to report profit of $0.55 per share for the third quarter on revenue of $76.69 million. Analysts' estimates typically exclude special items.
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