WASHINGTON (dpa-AFX) - Badger Meter Inc. (BMI) Tuesday reported a 28.7% rise in profit for the third quarter, due mainly to higher revenues and improved margins.
The Milwaukee, Wisconsin-based company's third-quarter net earnings were $8.86 million or $0.62 per share, compared with $6.88 million or $0.46 per share in the comparable quarter last year. On average, five analysts polled by Thomson Reuters expected the company to earn $0.47 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew 25.0 percent to $87.13 million from $69.70 million in the prior-year quarter, while three analysts had a consensus revenue estimate of $80.02 million for the quarter.
For the quarter, gross margin rose to $34.33 million from $22.78 million in the year-ago period.
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