Badger Meter earnings increase in 1Q

Special to The Freeman

April 17, 2014

BROWN DEER Badger Meter Inc. saw a 59 percent increase in earnings in its first quarter, according to a company statement.

"We are pleased with the first quarter results, especially the first quarter record sales, compared to last year's unusually weak first quarter. The sales increase was across the board, with higher sales of both residential and commercial municipal water products and flow instrumentation products," said Richard A. Meeusen, chairman, president and chief executive officer of Badger Meter.

The Brown Deer manufacturer of water meters and water sensors said during its fiscal first quarter, which ended March 31, net income rose to $4.63 million, or 32 cents a share, from $2.91 million, or 20 cents, a year earlier.

Sales rose 16 percent to $83.5 million from $71.8 million, the company said.

Heavy snowfall and Hurricane Sandy put a stop to a number of projects that would have required water meters, causing a slump in business in the first quarter of 2013, according to the statement.

"2014 is off to a good start, with a solid first quarter. We believe we are positioned for continued progress in the year ahead, Meeusen said.

www.badgermeter.com