<SEC-DOCUMENT>0001157523-17-002937.txt : 20171101
<SEC-HEADER>0001157523-17-002937.hdr.sgml : 20171101
<ACCEPTANCE-DATETIME>20171101160521
ACCESSION NUMBER:		0001157523-17-002937
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20171101
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20171101
DATE AS OF CHANGE:		20171101

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ITRON INC /WA/
		CENTRAL INDEX KEY:			0000780571
		STANDARD INDUSTRIAL CLASSIFICATION:	INSTRUMENTS FOR MEAS & TESTING OF ELECTRICITY & ELEC SIGNALS [3825]
		IRS NUMBER:				911011792
		STATE OF INCORPORATION:			WA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22418
		FILM NUMBER:		171168936

	BUSINESS ADDRESS:	
		STREET 1:		2111 N MOLTER ROAD
		CITY:			LIBERTY LAKE
		STATE:			WA
		ZIP:			99019
		BUSINESS PHONE:		5099249900

	MAIL ADDRESS:	
		STREET 1:		2111 N MOLTER ROAD
		CITY:			LIBERTY LAKE
		STATE:			WA
		ZIP:			99019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ITRON INC
		DATE OF NAME CHANGE:	19920724
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51709400.htm
<DESCRIPTION>ITRON, INC. 8-K
<TEXT>
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    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>UNITED
      STATES</b></font><b><font style="font-family: Times New Roman; font-size: 12pt"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 12pt">SECURITIES
      AND EXCHANGE COMMISSION</font></b><br><font style="font-family: Times New Roman; font-size: 12pt"><b>Washington,
      D.C. 20549</b></font><br><br>
    </p>
    <hr style="width: 30%; height: 1.0 pt; color: #000000; text-align: center">


    <p style="text-align: center">
      <br>
      <font style="font-family: Times New Roman; font-size: 18pt"><b>FORM 8-K</b></font><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>CURRENT
      REPORT</b></font><br><font style="font-family: Times New Roman; font-size: 12pt"><b>Pursuant
      to Section 13 or 15(d) of the Securities Exchange Act of 1934</b></font><br><br>
    </p>
    <div style="text-align:center">
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          &#160;
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          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>November 1, 2017</b>
          </p>
        </td>
        <td style="width: 35%">

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="3" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Date of Report (Date of Earliest Event Reported)
          </p>
        </td>
      </tr>
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    </div>
    <div style="text-align:center">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 10pt; margin-left:auto;margin-right:auto; font-family: Times New Roman">
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          &#160;
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        <td valign="top" style="padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; width: 50%; border-bottom-color: black; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>ITRON, INC.</b>
          </p>
        </td>
        <td style="width: 25%">

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="3" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Exact Name of Registrant as Specified in its Charter)
          </p>
        </td>
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    <p style="text-align: center">

    </p>
    <div style="text-align:center">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 95%; font-size: 10pt; margin-left:auto;margin-right:auto; font-family: Times New Roman">
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          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Washington</b>
          </p>
        </td>
        <td style="width: 5%">
          &#160;
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        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; width: 30%; border-bottom-color: black; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>000-22418</b>
          </p>
        </td>
        <td style="width: 5%">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; width: 30%; border-bottom-color: black; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>91-1011792</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; width: 30%; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (State or Other Jurisdiction<br>of Incorporation)
          </p>
        </td>
        <td style="width: 5%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 30%; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Commission File No.)
          </p>
        </td>
        <td style="width: 5%">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; width: 30%; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (IRS Employer<br>Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="text-align:center">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 95%; font-size: 10pt; margin-left:auto;margin-right:auto; font-family: Times New Roman">
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>2111 N. Molter Road, Liberty Lake, WA&#160;&#160;99019</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Address of Principal Executive Offices, Zip Code)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="text-align:center">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 95%; font-size: 10pt; margin-left:auto;margin-right:auto; font-family: Times New Roman">
      <tr>
        <td valign="top" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(509) 924-9900</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Registrant&#8217;s Telephone Number, Including Area Code)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: left">

    </p>
    <div style="text-align:center">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 95%; font-size: 10pt; margin-left:auto;margin-right:auto; font-family: Times New Roman">
      <tr>
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          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Former Name or Former Address, if Changed Since Last Report)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p style="text-align: justify">
      Check the appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font><br><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font><br><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font><br><font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <p style="text-align: justify">
      Indicate by check mark whether the registrant is an emerging growth
      company as defined in Rule 405 of the Securities Act of 1933 (17 CFR
      &#167;230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR
      &#167;240.12b-2).
    </p>
    <p style="text-align: right">
      Emerging growth company &#9744;
    </p>
    <p>
      If an emerging growth company, indicate by check mark if the registrant
      has elected not to use the extended transition period for complying with
      any new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act. &#9744;<br>
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
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        <div style="text-align: center">

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          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
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    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 10pt; font-family: Times New Roman">
      <tr>
        <td valign="top" style="padding-left: 0.0px; width: 8%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Item 2.02</b>
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 2%; text-align: left">
          &#160;
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 90%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Results of Operations and Financial Condition.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 8%">

        </td>
        <td style="width: 2%">

        </td>
        <td style="width: 90%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 8%">

        </td>
        <td style="width: 2%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 90%; text-align: left">
          <p style="font-size: 10pt; font-family: Times New Roman">
            On November 1, 2017, Itron, Inc. (the &#8220;Company&#8221;) issued a press
            release announcing its financial results for the three and nine
            months ended September 30, 2017. A copy of this press release and
            accompanying financial statements are attached as Exhibit 99.1.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 8%">

        </td>
        <td style="width: 2%">

        </td>
        <td style="width: 90%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; width: 8%; text-align: left">
          <p style="font-size: 10pt; font-family: Times New Roman">
            <b>Item 9.01</b>
          </p>
        </td>
        <td style="width: 2%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 90%; text-align: left">
          <p style="font-size: 10pt; font-family: Times New Roman">
            <b>Financial Statements and Exhibits.</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="margin-left: 30.0px; text-align: justify">
      (d)&#160;&#160;Exhibits.
    </p>
    <p>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 10pt; font-family: Times New Roman">
      <tr>
        <td valign="top" style="padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; width: 11%; border-bottom-color: black; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Exhibit<br>Number
          </p>
        </td>
        <td style="width: 3%">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; width: 86%; border-bottom-color: black; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Description
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 11%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 86%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; width: 11%; text-align: left">
          99.1
        </td>
        <td style="width: 3%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 86%">
          Press Release dated November 1, 2017.*
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      *&#160;&#160;This exhibit is intended to be furnished and shall not be deemed
      &quot;filed&quot; for purposes of the Exchange Act.<br><br>
    </p>
    <p>
      The information presented in this Current Report on Form 8-K may contain
      forward-looking statements within in the meaning of the Private
      Securities Litigation Reform Act of 1995.&#160;&#160;These statements relate to
      our expectations about revenues, operations, financial performance,
      earnings, earnings per share, cash flows and other financial results.
      Although we believe the estimates and assumptions upon which these
      forward-looking statements are based are reasonable, any of these
      estimates or assumptions could prove to be inaccurate and the
      forward-looking statements based on these estimates and assumptions
      could be incorrect. Our operations involve risks and uncertainties, many
      of which are outside our control, and any one of which, or a combination
      of which, could materially affect our results of operations and whether
      the forward-looking statements ultimately prove to be correct. Actual
      results and trends in the future may differ materially from those
      suggested or implied by the forward-looking statements depending on a
      variety of factors. Some of the factors that we believe could affect our
      results include our ability to execute on our restructuring plan, our
      ability to achieve estimated cost savings, the rate and timing of
      customer demand for our products, rescheduling of current customer
      orders, changes in estimated liabilities for product warranties, adverse
      impacts of litigation, changes in laws and regulations, our dependence
      on new product development and intellectual property, future
      acquisitions, changes in estimates for stock-based and bonus
      compensation, increasing volatility in foreign exchange rates,
      international business risks and other factors that are more fully
      described in our Annual Report on Form 10-K for the year ended December
      31, 2016 and other reports on file with the Securities and Exchange
      Commission. The Company undertakes no obligation to update this
      information.
    </p>
    <p>

    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURE</b></font>
    </p>
    <p style="text-align: left">
      Pursuant to the requirements of the Securities Exchange Act of 1934, the
      registrant has duly caused this report to be signed on its behalf by the
      undersigned, hereunto duly authorized.
    </p>
    <p>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 10pt; font-family: Times New Roman">
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 40%">

        </td>
        <td valign="top" colspan="3" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            ITRON, INC.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 40%">

        </td>
        <td style="width: 3%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 1%; text-align: left">
          &#160;
        </td>
        <td style="width: 50%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 40%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 1%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 50%; text-align: left">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; padding-bottom: 2.0px; width: 6%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Dated:
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; padding-bottom: 2.0px; width: 40%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            November 1, 2017
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; padding-bottom: 2.0px; width: 3%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            By:
          </p>
        </td>
        <td style="width: 1%">

        </td>
        <td valign="top" style="padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; width: 50%; border-bottom-color: black; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ Joan S. Hooper
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 40%">

        </td>
        <td valign="top" colspan="3" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Joan S. Hooper
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 40%">

        </td>
        <td valign="top" colspan="3" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Senior Vice President and Chief Financial Officer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">
      <b>EXHIBIT INDEX</b><br><br>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 10pt; font-family: Times New Roman">
      <tr>
        <td valign="top" style="padding-left: 10.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; width: 12%; border-bottom-color: black; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Exhibit<br>Number
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; padding-bottom: 2.0px; width: 3%; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; width: 85%; border-bottom-color: black; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Description
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 12%">

        </td>
        <td style="width: 3%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 85%; text-align: left">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; white-space: nowrap; padding-right: 0.0px; width: 12%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <a href="a51709400ex99_1.htm">99.1</a>
          </p>
        </td>
        <td style="width: 3%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 85%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <a href="a51709400ex99_1.htm">Press release dated November 1,
            2017.*</a>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>
      *&#160;&#160;This exhibit is intended to be furnished and shall not be deemed
      &quot;filed&quot; for purposes of the Exchange Act.
    </p>
    <p>

    </p>
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     "http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd">-->
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51709400ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
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  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Itron
      Announces Third Quarter 2017 Financial Results</b></font>
    </p>
    <p>
      LIBERTY LAKE, Wash.--(BUSINESS WIRE)--November 1, 2017--Itron, Inc.
      (NASDAQ:ITRI) announced today financial results for its third quarter
      ended Sept.&#160;30, 2017. Key financial metrics for the quarter include:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Revenue of $487 million, compared with $507 million in the third
        quarter of 2016;
      </li>
      <li style="margin-bottom: 10.0px">
        Gross margin of 34.0 percent, compared with 33.7 percent in the third
        quarter of 2016;
      </li>
      <li style="margin-bottom: 10.0px">
        GAAP diluted earnings per share of 65 cents, compared with a loss of
        26 cents per share in the third quarter of 2016; and
      </li>
      <li style="margin-bottom: 10.0px">
        Non-GAAP diluted earnings per share of 77 cents, which is flat
        compared with the third quarter of 2016.
      </li>
    </ul>
    <p>
      &#8220;As part of our continued efforts to improve operational efficiencies
      and transform our business, we have been transitioning supply chain
      activities, consolidating manufacturing operations and ramping up
      deliveries of new solutions. Our third quarter results were impacted by
      these activities and were lower than we expected due to shipment delays.
      We experienced short-term inefficiencies and quickly took actions to
      address these issues. As a result, we do not anticipate they will impact
      our fourth quarter results,&quot; said Philip Mezey, Itron&#8217;s president and
      chief executive officer.
    </p>
    <p>
      &quot;The internal transformation projects underway align with our strategy
      and provide long-term benefits of increased profitability and
      scalability for growth. Another important growth driver is customer
      adoption of our OpenWay Riva<sup>TM</sup> IoT solution, which is
      increasing. Our customers are excited about the possibilities OpenWay
      Riva brings and the value-proposition of a unified IoT platform for
      smart grids and smart cities. We are focused on delivering business
      outcomes with this solution and are investing in field deployment
      capacity to meet the needs of our growing customer base.
    </p>
    <p>
      Mezey continued, &quot;Also, on September 18, we announced an agreement to
      acquire Silver Spring Networks. This acquisition advances Itron's
      strategy of delivering highly secure, value-generating solutions for the
      critical infrastructure within utilities, smart cities and the broader
      industrial IoT sector. The timetable to close the transaction is late
      2017 or early 2018, subject to customary closing conditions.&quot;
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Summary of Third Quarter Consolidated Financial Results</b>
    </p>
    <p>
      (All comparisons made are against the prior year period unless otherwise
      noted)
    </p>
    <p>
      <u>Revenue</u>
    </p>
    <p>
      Total revenue of $487 million declined $20 million compared with the
      third quarter of 2016. The company experienced a delay in revenues due
      to temporary operational issues primarily in North America as well as
      continued delays of Water projects in our Europe, Middle East and Africa
      (EMEA) and North American regions, partially offset by $14 million of
      Distributed Energy Management revenues (DEM) realized through our
      acquisition of Comverge on June 1, 2017.
    </p>
    <p>
      By segment, Electricity revenue decreased 1 percent due to the
      operational issues in North America, partially offset by strong smart
      solution volumes in the EMEA and Asia Pacific regions and DEM revenues.
      Gas revenue decreased 9 percent related to the operational issues in
      North America and lower EMEA Gas project revenue, compared with record
      communication module deliveries in the prior year. Water revenue
      decreased 4 percent due to lower revenue in North America and EMEA
      regions, partially offset by growth in Latin America and Asia Pacific.
    </p>
    <p>
      <u>Gross Margin</u>
    </p>
    <p>
      Consolidated company gross margin of 34.0 percent increased 30 basis
      points compared with the third quarter of 2016. The gross margin
      improvement was driven by higher Electricity and Water segment margins
      resulting from favorable product mix and lower warranty costs.
    </p>
    <p>
      <u>Operating Expenses</u>
    </p>
    <p>
      Operating expenses for the quarter were $128 million compared with $164
      million in the third quarter of 2016. The reduction was driven by lower
      restructuring, professional services and variable compensation expenses,
      which were partially offset by acquisition and integration related
      expenses, as well as higher product development and sales and marketing
      costs mostly attributable to the addition of DEM solutions.
    </p>
    <p>
      Non-GAAP operating expenses were $116 million compared with $119 million
      in 2016. The reduction was driven by lower professional services fees,
      variable compensation and reduced general and administrative headcount,
      partially offset by higher product development and sales and marketing
      expenses.
    </p>
    <p>
      <u>Operating Income, Net Income and Earnings per Share</u>
    </p>
    <p>
      GAAP operating income increased to $37 million compared with $6 million
      in the third quarter of 2016. Net income attributable to Itron for the
      quarter was $26 million, or 65 cents per diluted share, compared with a
      net loss of $10 million, or 26 cents per diluted share, in 2016. The
      higher operating income and net income were driven by lower operating
      expenses. Net income also benefited from a lower effective tax rate
      resulting from timing and mix of taxable income by jurisdiction.
    </p>
    <p>
      Non-GAAP operating income was $50 million compared with $52 million in
      2016. Non-GAAP net income for the quarter was $31 million, or 77 cents
      per diluted share, compared with $30 million, or 77 cents per diluted
      share, in 2016. The decrease in non-GAAP operating income was driven by
      the impact of lower revenue, partially offset by lower non-GAAP
      operating expenses, which exclude restructuring and acquisition and
      integration related costs and amortization of intangibles. Non-GAAP net
      income reflects the lower non-GAAP operating income offset by a lower
      non-GAAP effective tax rate resulting from timing and mix of taxable
      income by jurisdiction.
    </p>
    <p>
      <u>Cash Flow</u>
    </p>
    <p>
      Net cash provided by operating activities was $21 million in the third
      quarter of 2017 compared with $31 million in the same quarter of 2016.
      Free cash flow was $9 million for the third quarter compared with $20
      million in the prior year. The decreases were primarily driven by
      changes in working capital due to timing of accounts payables and larger
      tax payments compared with the prior year.
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Other Measures</b>
    </p>
    <p>
      Total backlog was $1.5 billion and 12-month backlog was $847 million at
      the end of the quarter, compared with $1.5 billion and $731 million,
      respectively, in the prior year quarter. Bookings in the quarter totaled
      $343 million.
    </p>
    <p>
      <b>Financial Guidance Update</b>
    </p>
    <p>
      The company anticipates full year 2017 non-GAAP EPS will be at or above
      the low end of the prior guidance range of $2.95 to $3.15, on revenues
      expected to be at or modestly below the low end of the prior guidance
      range of $2.03 billion to $2.06 billion, assuming current foreign
      currency rates, average fully diluted shares outstanding of
      approximately 39.5 million for the year and a non-GAAP effective tax
      rate for the year of approximately 35 percent.
    </p>
    <p>
      A reconciliation of forward-looking non-GAAP diluted EPS to the GAAP
      diluted EPS has not been provided because we are unable to predict with
      reasonable certainty the potential amount or timing of restructuring and
      acquisition and integration related expenses and their related tax
      effects without unreasonable effort. These items are uncertain, depend
      on various factors and could have a material impact on GAAP results for
      the guidance period.
    </p>
    <p>
      <b>Earnings Conference Call</b>
    </p>
    <p>
      Itron will host a conference call to discuss the financial results and
      guidance contained in this release at 5:00 p.m. EDT on Nov. 1, 2017. The
      call will be webcast in a listen-only mode. Webcast information and
      conference call materials will be made available 10 minutes before the
      start of the call and will be accessible on Itron&#8217;s website at <u>http://investors.itron.com/events.cfm</u>.
      A replay of the audio webcast will be made available at <u>http://investors.itron.com/events.cfm</u>.
      A telephone replay of the conference call will be available through Nov.
      6, 2017. To access the telephone replay, dial (888) 203-1112 (Domestic)
      or (719) 457-0820 (International) and enter passcode 9357766<b>.</b>
    </p>
    <p>
      <b>About Itron</b>
    </p>
    <p>
      Itron is a world-leading technology and services company dedicated to
      the resourceful use of energy and water. We provide comprehensive
      solutions that measure, manage and analyze energy and water. Our broad
      product portfolio includes electricity, gas, water and thermal energy
      measurement devices and control technology; communications systems;
      software; as well as managed and consulting services. With thousands of
      employees supporting nearly 8,000 customers in more than 100 countries,
      Itron applies knowledge and technology to better manage energy and water
      resources. Together, we can create a more resourceful world. Join us: <u>www.itron.com</u>.
    </p>
    <p>
      Itron<sup>&#174;</sup> and OpenWay<sup>&#174;</sup> are registered
      trademarks of Itron, Inc. All third party trademarks are property of
      their respective owners and any usage herein does not suggest or imply
      any relationship between Itron and the third party unless expressly
      stated.
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Forward Looking Statements</b>
    </p>
    <p>
      This release contains forward-looking statements within in the meaning
      of the Private Securities Litigation Reform Act of 1995. These
      statements relate to our expectations about revenues, operations,
      financial performance, earnings, earnings per share and cash flows, as
      well as the expected timing of the completion of our previously
      announced pending acquisition of Silver Spring Technologies, Inc.
      Although we believe the estimates and assumptions upon which these
      forward-looking statements are based are reasonable, any of these
      estimates or assumptions could prove to be inaccurate and the
      forward-looking statements based on these estimates and assumptions
      could be incorrect. Our operations involve risks and uncertainties, many
      of which are outside our control, and any one of which, or a combination
      of which, could materially affect our results of operations and whether
      the forward-looking statements ultimately prove to be correct. Actual
      results and trends in the future may differ materially from those
      suggested or implied by the forward-looking statements depending on a
      variety of factors. Some of the factors that we believe could affect our
      results include our ability to achieve estimated cost savings, the rate
      and timing of customer demand for our products, rescheduling of current
      customer orders, changes in estimated liabilities for product
      warranties, adverse impacts of litigation, changes in laws and
      regulations, our dependence on new product development and intellectual
      property, future acquisitions, changes in estimates for stock-based and
      bonus compensation, increasing volatility in foreign exchange rates,
      international business risks, failure to satisfy conditions to the
      completion of the acquisition of Silver Spring Technologies, Inc. and
      other factors that are more fully described in our Annual Report on Form
      10-K for the year ended December 31, 2016 and other reports on file with
      the Securities and Exchange Commission. Itron undertakes no obligation
      to update or revise any information in this press release.
    </p>
    <p>
      <b>Non-GAAP Financial Information</b>
    </p>
    <p>
      To supplement our consolidated financial statements presented in
      accordance with GAAP, we use certain non-GAAP financial measures,
      including non-GAAP operating expense, non-GAAP operating income,
      non-GAAP net income, non-GAAP diluted EPS, adjusted EBITDA, adjusted
      EBITDA margin, constant currency and free cash flow. We provide these
      non-GAAP financial measures because we believe they provide greater
      transparency and represent supplemental information used by management
      in its financial and operational decision making. We exclude certain
      costs in our non-GAAP financial measures as we believe the net result is
      a measure of our core business. The company believes these measures
      facilitate operating performance comparisons from period to period by
      eliminating potential differences caused by the existence and timing of
      certain expense items that would not otherwise be apparent on a GAAP
      basis. Non-GAAP performance measures should be considered in addition
      to, and not as a substitute for, results prepared in accordance with
      GAAP. Our non-GAAP financial measures may be different from those
      reported by other companies. A more detailed discussion of why we use
      non-GAAP financial measures, the limitations of using such measures, and
      reconciliations between non-GAAP and the nearest GAAP financial measures
      are included in this press release.
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td colspan="17">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" colspan="17" style="padding-left: 0.0px; text-align: center">
          <b>ITRON, INC.</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" colspan="17" style="padding-left: 0.0px; text-align: center">
          <b>CONSOLIDATED STATEMENTS OF OPERATIONS</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" colspan="17" style="padding-left: 0.0px; text-align: left">
          (Unaudited, in thousands, except per share data)
        </td>
      </tr>
      <tr>
        <td colspan="17">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="7" style="padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black; text-align: center">
          <b>Three Months Ended</b><br><b>September 30,</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="7" style="padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black; text-align: center">
          <b>Nine Months Ended</b><br><b>September 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>2017</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>2017</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>2016</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Revenues
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          486,747
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          506,859
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,467,421
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,517,473
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">
          Cost of revenues
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          321,429
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          336,110
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          967,018
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          1,013,816
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Gross profit
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          165,318
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          170,749
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          500,403
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          503,657
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Operating expenses
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Sales and marketing
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          40,780
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          38,894
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          127,001
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          119,037
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Product development
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          42,560
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          39,386
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          126,539
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          128,086
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          General and administrative
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          39,667
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          40,384
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          120,074
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          130,781
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Amortization of intangible assets
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          5,625
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          4,996
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          15,144
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          19,002
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Restructuring
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (678
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          40,679
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          7,417
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          41,294
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; padding-bottom: 2.0px; text-align: left">
          Total operating expenses
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          127,954
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          164,339
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          396,175
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          438,200
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Operating income
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          37,364
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          6,410
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          104,228
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          65,457
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Other income (expense)
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Interest income
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          729
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          102
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,468
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          594
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Interest expense
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (2,898
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (2,691
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (8,448
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (8,344
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Other income (expense), net
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (1,701
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          707
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (7,126
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (1,074
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; padding-bottom: 2.0px; text-align: left">
          Total other income (expense)
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (3,870
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (1,882
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (14,106
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (8,824
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Income before income taxes
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          33,494
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          4,528
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          90,122
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          56,633
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">
          Income tax provision
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (6,640
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (13,430
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (32,247
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (34,249
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Net income (loss)
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          26,854
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (8,902
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          57,875
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          22,384
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Net income attributable to non-controlling interests
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          1,278
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          983
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          2,357
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          2,263
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">
          Net income (loss) attributable to Itron, Inc.
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          25,576
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (9,885
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          55,518
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          20,121
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">
          Earnings (loss) per common share - Basic
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          0.66
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (0.26
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          1.44
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          0.53
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">
          Earnings (loss) per common share - Diluted
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          0.65
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (0.26
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          1.41
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          0.52
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Weighted average common shares outstanding - Basic
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          38,713
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          38,248
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          38,624
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          38,181
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Weighted average common shares outstanding - Diluted
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          39,467
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          38,248
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          39,339
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          38,515
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td valign="bottom" colspan="17" style="padding-left: 0.0px; text-align: center">
          <b>ITRON, INC.</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" colspan="17" style="padding-left: 0.0px; text-align: center">
          <b>SEGMENT INFORMATION</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" colspan="17" style="padding-left: 0.0px; text-align: left">
          (Unaudited, in thousands)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="7" style="padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black; text-align: center">
          <b>Three Months Ended</b><br><b>September 30,</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="7" style="padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black; text-align: center">
          <b>Nine Months Ended</b><br><b>September 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>2017</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>2017</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>2016</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Revenues</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Electricity
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          240,142
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          242,667
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          729,225
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          692,785
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Gas
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          131,780
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          144,185
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          394,691
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          433,707
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Water
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          114,825
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          120,007
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          343,505
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          390,981
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; padding-bottom: 4.0px; text-align: left">
          Total Company
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          486,747
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          506,859
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          1,467,421
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          1,517,473
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Gross profit</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Electricity
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          76,440
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          75,362
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          222,227
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          210,840
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Gas
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          46,260
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          56,096
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          147,036
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          158,156
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Water
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          42,618
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          39,291
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          131,140
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          134,661
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; padding-bottom: 4.0px; text-align: left">
          Total Company
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          165,318
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          170,749
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          500,403
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          503,657
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Operating income (loss)</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Electricity
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          17,114
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          20,452
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          51,629
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          51,092
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Gas
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          20,030
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          7,136
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          57,849
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          48,811
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Water
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          14,837
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (3,546
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          40,258
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          28,707
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Corporate unallocated
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (14,617
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (17,632
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (45,508
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (63,153
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; padding-bottom: 4.0px; text-align: left">
          Total Company
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          37,364
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          6,410
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          104,228
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          65,457
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" colspan="17" style="padding-left: 0.0px; text-align: center">
          <b>METER AND MODULE SUMMARY</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          (Units in thousands)
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="7" style="padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black; text-align: center">
          <b>Three Months Ended</b><br><b>September 30,</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="7" style="padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black; text-align: center">
          <b>Nine Months Ended</b><br><b>September 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>2017</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>2017</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>2016</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Meters</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Standard
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3,640
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3,520
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          12,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          12,020
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Smart
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          2,590
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          2,390
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          7,600
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          6,900
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; padding-bottom: 4.0px; text-align: left">
          Total meters
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          6,230
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          5,910
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          19,600
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          18,920
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          <b>Stand-alone communication modules</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; padding-bottom: 4.0px; text-align: left">
          Smart
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          1,480
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          1,570
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          4,410
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          4,470
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td valign="bottom" colspan="9" style="padding-left: 0.0px; text-align: center">
          <b>ITRON, INC.</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" colspan="9" style="padding-left: 0.0px; text-align: center">
          <b>CONSOLIDATED BALANCE SHEETS</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          (Unaudited, in thousands)
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>September 30, 2017</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>December 31, 2016</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>ASSETS</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Current assets
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          137,584
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          133,565
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Accounts receivable, net
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          376,149
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          351,506
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Inventories
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          207,703
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          163,049
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Other current assets
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          112,959
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          84,346
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; text-align: left">
          Total current assets
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          834,395
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          732,466
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Property, plant, and equipment, net
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          192,784
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          176,458
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Deferred tax assets, net
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          95,666
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          94,113
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Other long-term assets
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          44,072
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          50,129
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Intangible assets, net
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          100,289
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          72,151
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">
          Goodwill
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          550,732
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          452,494
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; padding-bottom: 4.0px; text-align: left">
          Total assets
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          1,817,938
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          1,577,811
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          <b>LIABILITIES AND EQUITY</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Current liabilities
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Accounts payable
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          212,564
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          172,711
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Other current liabilities
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          55,305
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          43,625
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Wages and benefits payable
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          94,867
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          82,346
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Taxes payable
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          21,082
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          10,451
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Current portion of debt
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          18,281
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          14,063
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Current portion of warranty
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          21,697
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          24,874
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Unearned revenue
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          74,598
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          64,976
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; text-align: left">
          Total current liabilities
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          498,394
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          413,046
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Long-term debt
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          303,949
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          290,460
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Long-term warranty
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          13,225
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          18,428
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Pension benefit obligation
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          96,849
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          84,498
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Deferred tax liabilities, net
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3,447
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3,073
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">
          Other long-term obligations
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          111,553
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          117,953
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; text-align: left">
          Total liabilities
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,027,417
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          927,458
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Equity
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Common stock
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,287,803
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,270,467
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Accumulated other comprehensive loss, net
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (177,743
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (229,327
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Accumulated deficit
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (339,654
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (409,536
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; text-align: left">
          Total Itron, Inc. shareholders' equity
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          770,406
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          631,604
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Non-controlling interests
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          20,115
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          18,749
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; padding-bottom: 2.0px; text-align: left">
          Total equity
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          790,521
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          650,353
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; padding-bottom: 4.0px; text-align: left">
          Total liabilities and equity
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          1,817,938
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          1,577,811
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td valign="bottom" colspan="9" style="padding-left: 0.0px; text-align: center">
          <b>ITRON, INC.</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" colspan="9" style="padding-left: 0.0px; text-align: center">
          <b>CONSOLIDATED STATEMENTS OF CASH FLOWS</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          (Unaudited, in thousands)
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="7" style="padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black; text-align: center">
          <b>Nine Months Ended September 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>2017</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>2016</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Operating activities
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Net income
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          57,875
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          22,384
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Adjustments to reconcile net income to net cash provided by
          operating activities:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; text-align: left">
          Depreciation and amortization
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          46,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          51,563
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; text-align: left">
          Stock-based compensation
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          15,254
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          13,300
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; text-align: left">
          Amortization of prepaid debt fees
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          800
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          806
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; text-align: left">
          Deferred taxes, net
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          7,615
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          17,772
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; text-align: left">
          Restructuring, non-cash
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (720
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          5,153
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; text-align: left">
          Other adjustments, net
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3,111
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (734
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Changes in operating assets and liabilities:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Accounts receivable
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2,537
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (32,652
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Inventories
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (30,843
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3,207
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Other current assets
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (23,492
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (15,591
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Other long-term assets
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          10,460
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          8,499
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Accounts payable, other current liabilities, and taxes payable
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          34,987
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (5,830
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Wages and benefits payable
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          6,218
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          11,516
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Unearned revenue
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (5,679
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (8,684
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Warranty
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (10,285
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (9,900
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Other operating, net
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          663
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          21,072
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; text-align: left">
          Net cash provided by operating activities
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          114,501
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          81,881
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Investing activities
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Acquisitions of property, plant, and equipment
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (33,493
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (30,563
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Business acquisitions, net of cash and cash equivalents acquired
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (98,848
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (951
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Other investing, net
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          10
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (1,258
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; text-align: left">
          Net cash used in investing activities
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (132,331
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (32,772
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Financing activities
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Proceeds from borrowings
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          35,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Payments on debt
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (24,844
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (29,031
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          Issuance of common stock
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2,797
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,993
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left">
          Other financing, net
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          1,216
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (3,658
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; text-align: left">
          Net cash provided by (used) in financing activities
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          14,169
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (30,696
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">
          Effect of foreign exchange rate changes on cash and cash equivalents
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          7,680
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          1,949
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Increase in cash and cash equivalents
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          4,019
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          20,362
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">
          Cash and cash equivalents at beginning of period
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          133,565
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          131,018
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">
          Cash and cash equivalents at end of period
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          137,584
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          151,380
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">
      <b>About Non-GAAP Financial Measures</b>
    </p>
    <p>
      The accompanying press release contains non-GAAP financial measures. To
      supplement our consolidated financial statements, which are prepared in
      accordance with GAAP, we use certain non-GAAP financial measures,
      including non-GAAP operating expense, non-GAAP operating income,
      non-GAAP net income, non-GAAP diluted EPS, adjusted EBITDA, constant
      currency and free cash flow. The presentation of this financial
      information is not intended to be considered in isolation or as a
      substitute for, or superior to, the financial information prepared and
      presented in accordance with GAAP, and other companies may define such
      measures differently. For more information on these non-GAAP financial
      measures please see the table captioned &#8220;Reconciliations of Non-GAAP
      Financial Measures to Most Directly Comparable GAAP Financial Measures.&#8221;
    </p>
    <p>
      We use these non-GAAP financial measures for financial and operational
      decision making and/or as a means for determining executive
      compensation. Management believes that these non-GAAP financial measures
      provide meaningful supplemental information regarding our performance
      and ability to service debt by excluding certain expenses that may not
      be indicative of our recurring core operating results. These non-GAAP
      financial measures facilitate management&#8217;s internal comparisons to our
      historical performance as well as comparisons to our competitors&#8217;
      operating results. Our executive compensation plans exclude non-cash
      charges related to amortization of intangibles and certain discrete cash
      and non-cash charges such as purchase accounting adjustments,
      restructuring charges or goodwill impairment charges. We believe that
      both management and investors benefit from referring to these non-GAAP
      financial measures in assessing our performance and when planning,
      forecasting and analyzing future periods. We believe these non-GAAP
      financial measures are useful to investors because they provide greater
      transparency with respect to key metrics used by management in its
      financial and operational decision making and because they are used by
      our institutional investors and the analyst community to analyze the
      health of our business.
    </p>
    <p>
      <u>Non-GAAP operating expenses and non-GAAP operating income</u> - We
      define non-GAAP operating expenses as operating expenses excluding
      certain expenses related to the amortization of intangible assets,
      restructuring, acquisition and integration, and goodwill impairment. We
      define non-GAAP operating income as operating income excluding the
      expenses related to the amortization of intangible assets,
      restructuring, acquisition and integration, and goodwill impairment.
      Acquisition and integration related expenses include costs which are
      incurred to affect and integrate business combinations, such as
      professional fees, certain employee retention and salaries related to
      integration, severances, contract terminations, travel costs related to
      knowledge transfer, system conversion costs, and asset impairment
      charges. We consider these non-GAAP financial measures to be useful
      metrics for management and investors because they exclude the effect of
      expenses that are related to acquisitions and restructuring projects. By
      excluding these expenses, we believe that it is easier for management
      and investors to compare our financial results over multiple periods and
      analyze trends in our operations. For example, in certain periods
      expenses related to amortization of intangible assets may decrease,
      which would improve GAAP operating margins, yet the improvement in GAAP
      operating margins due to this lower expense is not necessarily
      reflective of an improvement in our core business. There are some
      limitations related to the use of non-GAAP operating expenses and
      non-GAAP operating income versus operating expenses and operating income
      calculated in accordance with GAAP. We compensate for these limitations
      by providing specific information about the GAAP amounts excluded from
      non-GAAP operating expense and non-GAAP operating income and evaluating
      non-GAAP operating expense and non-GAAP operating income together with
      GAAP operating expense and GAAP operating income.
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <u>Non-GAAP net income and non-GAAP diluted EPS</u> - We define non-GAAP
      net income as net income attributable to Itron, Inc. excluding the
      expenses associated with amortization of intangible assets,
      restructuring, acquisition and integration, goodwill impairment,
      amortization of debt placement fees and the tax effect of excluding
      these expenses. We define non-GAAP diluted EPS as non-GAAP net income
      divided by the weighted average shares, on a diluted basis, outstanding
      during each period. We consider these financial measures to be useful
      metrics for management and investors for the same reasons that we use
      non-GAAP operating income. The same limitations described above
      regarding our use of non-GAAP operating income apply to our use of
      non-GAAP net income and non-GAAP diluted EPS. We compensate for these
      limitations by providing specific information regarding the GAAP amounts
      excluded from these non-GAAP measures and evaluating non-GAAP net income
      and non-GAAP diluted EPS together with GAAP net income attributable to
      Itron, Inc. and GAAP diluted EPS.
    </p>
    <p>
      <u>Adjusted EBITDA</u> - We define adjusted EBITDA as net income (a)
      minus interest income, (b) plus interest expense, depreciation and
      amortization, restructuring, acquisition and integration related
      expense, goodwill impairment and (c) excluding income tax provision or
      benefit. Management uses adjusted EBITDA as a performance measure for
      executive compensation. A limitation to using adjusted EBITDA is that it
      does not represent the total increase or decrease in the cash balance
      for the period and the measure includes some non-cash items and excludes
      other non-cash items. Additionally, the items that we exclude in our
      calculation of adjusted EBITDA may differ from the items that our peer
      companies exclude when they report their results. We compensate for
      these limitations by providing a reconciliation of this measure to GAAP
      net income.
    </p>
    <p>
      <u>Free cash flow</u> - We define free cash flow as net cash provided by
      operating activities less cash used for acquisitions of property, plant
      and equipment. We believe free cash flow provides investors with a
      relevant measure of liquidity and a useful basis for assessing our
      ability to fund our operations and repay our debt. The same limitations
      described above regarding our use of adjusted EBITDA apply to our use of
      free cash flow. We compensate for these limitations by providing
      specific information regarding the GAAP amounts and reconciling to free
      cash flow.
    </p>
    <p>
      <u>Constant currency</u> - We refer to the impact of foreign currency
      exchange rate fluctuations in our discussions of financial results,
      which references the differences between the foreign currency exchange
      rates used to translate operating results from local currencies into
      U.S. dollars for financial reporting purposes. We also use the term
      &#8220;constant currency,&#8221; which represents financial results adjusted to
      exclude changes in foreign currency exchange rates as compared with the
      rates in the comparable prior year period. We calculate the constant
      currency change as the difference between the current period results and
      the comparable prior period&#8217;s results restated using current period
      foreign currency exchange rates.
    </p>
    <p>
      The accompanying tables have more detail on the GAAP financial measures
      that are most directly comparable to the non-GAAP financial measures and
      the related reconciliations between these financial measures.
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td valign="bottom" colspan="17" style="padding-left: 0.0px; text-align: center">
          <b>ITRON, INC.</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" colspan="17" style="padding-left: 0.0px; text-align: center">
          <b>RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" colspan="17" style="padding-left: 0.0px; text-align: center">
          <b>TO THE MOST DIRECTLY COMPARABLE GAAP FINANCIAL MEASURES</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" colspan="17" style="padding-left: 0.0px; text-align: left">
          (Unaudited, in thousands, except per share data)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black; text-align: left">
          <b>TOTAL COMPANY RECONCILIATIONS</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="7" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>Three Months Ended September 30,</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="7" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>Nine Months Ended September 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>2017</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>2017</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>2016</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          <b>NON-GAAP NET INCOME &amp; DILUTED EPS</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; text-align: left">
          GAAP net income (loss) attributable to Itron, Inc.
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          25,576
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (9,885
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          55,518
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          20,121
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; text-align: left">
          Amortization of intangible assets
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          5,625
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          4,996
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          15,144
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          19,002
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; text-align: left">
          Amortization of debt placement fees
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          242
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          247
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          725
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          742
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; text-align: left">
          Restructuring
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (678
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          40,679
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          7,417
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          41,294
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; text-align: left">
          Acquisition and integration related expenses
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          7,243
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (180
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          14,044
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (202
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; padding-bottom: 2.0px; text-align: left">
          Income tax effect of non-GAAP adjustments
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (7,423
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (5,961
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (12,153
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (9,086
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; padding-bottom: 4.0px; text-align: left">
          Non-GAAP net income attributable to<br>Itron, Inc.
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          30,585
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          29,896
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          80,695
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          71,871
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; padding-bottom: 4.0px; text-align: left">
          Non-GAAP diluted EPS
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          0.77
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          0.77
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          2.05
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          1.87
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; padding-bottom: 4.0px; text-align: left">
          Weighted average common shares outstanding - Diluted
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          39,467
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          38,651
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          39,339
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          38,515
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          <b>ADJUSTED EBITDA</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; text-align: left">
          GAAP net income (loss) attributable to Itron, Inc.
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          25,576
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (9,885
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          55,518
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          20,121
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; text-align: left">
          Interest income
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (729
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (102
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (1,468
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (594
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; text-align: left">
          Interest expense
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2,898
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2,691
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          8,448
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          8,344
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; text-align: left">
          Income tax provision
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          6,640
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          13,430
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          32,247
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          34,249
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; text-align: left">
          Depreciation and amortization
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          16,532
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          16,082
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          46,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          51,563
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; text-align: left">
          Restructuring
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (678
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          40,679
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          7,417
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          41,294
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; padding-bottom: 2.0px; text-align: left">
          Acquisition and integration related expenses
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          7,243
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (180
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          14,044
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (202
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; padding-bottom: 4.0px; text-align: left">
          Adjusted EBITDA
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          57,482
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          62,715
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          162,206
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          154,775
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          <b>FREE CASH FLOW</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; text-align: left">
          Net cash provided by operating activities
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          21,057
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          30,754
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          114,501
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          81,881
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; padding-bottom: 2.0px; text-align: left">
          Acquisitions of property, plant, and equipment
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (11,595
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (10,679
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (33,493
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (30,563
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; padding-bottom: 4.0px; text-align: left">
          Free Cash Flow
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          9,462
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          20,075
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          81,008
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          51,318
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          <b>NON-GAAP OPERATING INCOME</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; text-align: left">
          GAAP operating income
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          37,364
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          6,410
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          104,228
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          65,457
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; text-align: left">
          Amortization of intangible assets
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          5,625
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          4,996
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          15,144
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          19,002
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; text-align: left">
          Restructuring
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (678
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          40,679
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          7,417
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          41,294
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; padding-bottom: 2.0px; text-align: left">
          Acquisition and integration related expenses
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          7,243
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (180
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          14,044
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (202
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; padding-bottom: 4.0px; text-align: left">
          Non-GAAP operating income
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          49,554
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          51,905
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          140,833
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          125,551
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          <b>NON-GAAP OPERATING EXPENSES</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; text-align: left">
          GAAP operating expenses
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          127,954
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          164,339
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          396,175
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          438,200
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; text-align: left">
          Amortization of intangible assets
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (5,625
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (4,996
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (15,144
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (19,002
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; text-align: left">
          Restructuring
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          678
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (40,679
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (7,417
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (41,294
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; padding-bottom: 2.0px; text-align: left">
          Acquisition and integration related expenses
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (7,243
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          180
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (14,044
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          202
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; padding-bottom: 4.0px; text-align: left">
          Non-GAAP operating expenses
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          115,764
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          118,844
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          359,570
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          378,106
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td valign="bottom" colspan="17" style="padding-left: 0.0px; text-align: center">
          <b>ITRON, INC.</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" colspan="17" style="padding-left: 0.0px; text-align: center">
          <b>RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" colspan="17" style="padding-left: 0.0px; text-align: center">
          <b>TO THE MOST DIRECTLY COMPARABLE GAAP FINANCIAL MEASURES</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          (Unaudited, in thousands)
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black; text-align: left">
          <b>SEGMENT RECONCILIATIONS</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="7" style="padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black; text-align: center">
          <b>Three Months Ended</b><br><b>September 30,</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="7" style="padding-left: 0.0px; border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black; text-align: center">
          <b>Nine Months Ended</b><br><b>September 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>2017</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>2016</b>
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="3" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>2017</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: center">
          <b>2016</b>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          <b>NON-GAAP OPERATING INCOME - ELECTRICITY</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; text-align: left">
          Electricity - GAAP operating income
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          17,114
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          20,452
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          51,629
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          51,092
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; text-align: left">
          Amortization of intangible assets
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3,260
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2,183
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          8,350
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          10,050
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; text-align: left">
          Restructuring
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,227
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          6,443
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,557
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          5,411
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; padding-bottom: 2.0px; text-align: left">
          Acquisition and integration related expenses
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          3,586
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (180
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          9,787
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (202
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; padding-bottom: 4.0px; text-align: left">
          Electricity - Non-GAAP operating income
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          25,187
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          28,898
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          71,323
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          66,351
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          <b>NON-GAAP OPERATING INCOME - GAS</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; text-align: left">
          Gas - GAAP operating income
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          20,030
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          7,136
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          57,849
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          48,811
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; text-align: left">
          Amortization of intangible assets
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,375
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,513
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          3,961
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          4,888
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; padding-bottom: 2.0px; text-align: left">
          Restructuring
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (706
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          20,738
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          4,717
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          21,990
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; padding-bottom: 4.0px; text-align: left">
          Gas - Non-GAAP operating income
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          20,699
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          29,387
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          66,527
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          75,689
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          <b>NON-GAAP OPERATING INCOME - WATER</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; text-align: left">
          Water - GAAP operating income (loss)
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          14,837
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (3,546
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          40,258
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          28,707
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; text-align: left">
          Amortization of intangible assets
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          990
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,300
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          2,833
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          4,064
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; padding-bottom: 2.0px; text-align: left">
          Restructuring
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (1,567
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          12,414
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          446
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          12,465
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; padding-bottom: 4.0px; text-align: left">
          Water - Non-GAAP operating income
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          14,260
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          10,168
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          43,537
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          45,236
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 10.0px; text-align: left">
          <b>NON-GAAP OPERATING INCOME - CORPORATE UNALLOCATED</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; text-align: left">
          Corporate unallocated - GAAP operating loss
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (14,617
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (17,632
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (45,508
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          (63,153
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; text-align: left">
          Restructuring
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          368
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,084
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          697
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right">
          1,428
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 30.0px; padding-bottom: 2.0px; text-align: left">
          Acquisition and integration related expenses
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          3,657
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          4,257
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; border-bottom-style: solid; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-style: solid; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 20.0px; padding-bottom: 4.0px; text-align: left">
          Corporate unallocated - Non-GAAP operating loss
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (10,592
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (16,548
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (40,554
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-style: double; border-bottom-color: black">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: right">
          (61,725
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; border-bottom-style: double; padding-right: 0.0px; border-bottom-color: black; text-align: left">
          )
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br><b>Itron, Inc.</b><br>Barbara Doyle, 509-891-3443<br>Vice
      President, Investor Relations<br>or<br>Rebecca Hussey, 509-891-3574<br>Manager,
      Investor Relations<br>
    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
