<SEC-DOCUMENT>0001157523-19-000474.txt : 20190227
<SEC-HEADER>0001157523-19-000474.hdr.sgml : 20190227
<ACCEPTANCE-DATETIME>20190227161024
ACCESSION NUMBER:		0001157523-19-000474
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190227
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190227
DATE AS OF CHANGE:		20190227

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:		19637770

	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>a51947417.htm
<DESCRIPTION>ITRON, INC. 8-K
<TEXT>
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      <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="text-align: center; color: #000000; width: 15%; height: 1.0 pt">


    <p style="text-align: center">
      <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-top: 0px; margin-bottom: 0px">
            <b>February 27, 2019</b>
          </p>
        </td>
        <td style="width: 35%">

        </td>
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        <td colspan="3" style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Date of Report (Date of Earliest Event Reported)
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          &#160;
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>ITRON, INC.</b>
          </p>
        </td>
        <td style="width: 25%">

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

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

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

        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 30%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (IRS Employer<br>Identification No.)
          </p>
        </td>
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    </div>
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    </p>
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    <table cellspacing="0" style="width: 95%; margin-left:auto;margin-right:auto; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt">
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>2111 N. Molter Road, Liberty Lake, WA&#160;&#160;99019</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Address of Principal Executive Offices, Zip Code)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="text-align:center">
    <table cellspacing="0" style="width: 95%; margin-left:auto;margin-right:auto; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt">
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(509) 924-9900</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 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="width: 95%; margin-left:auto;margin-right:auto; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt">
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          &#160;
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        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 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>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            Emerging growth company <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
          </p>
        </td>
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          &#160;
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      </tr>
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        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            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 &#64257;nancial accounting
            standards provided pursuant to Section 13(a) of the Exchange Act. <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
          </p>
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    <p style="text-align: left">

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        <div style="text-align: left">

        </div>
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        <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>
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      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 8%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Item 2.02</b>
          </p>
        </td>
        <td style="width: 4%">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 88%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Results of Operations and Financial Condition.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 8%" valign="top">

        </td>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 88%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            On February 27, 2019, Itron, Inc. issued a press release
            announcing its financial results for the three and twelve months
            ended December 31, 2018. A copy of this press release and
            accompanying financial statements are attached as Exhibit 99.1.
          </p>
        </td>
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        <td style="padding-left: 0.0px; text-align: left; width: 8%" valign="top">

        </td>
        <td style="width: 4%">

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          &#160;
        </td>
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        </td>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 88%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            The information in Item 2.02 of this Report and the attached
            exhibit shall not be deemed &quot;filed&quot; for purposes of Section 18 of
            the Securities Exchange Act of 1934, as amended (the &quot;Exchange
            Act&quot;), nor shall it be deemed incorporated by reference in any
            filing under the Securities Act of 1933, as amended, or the
            Exchange Act, except as shall be expressly stated by specific
            reference in such filing.
          </p>
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        <td style="width: 8%">

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        <td style="width: 4%">

        </td>
        <td style="width: 88%">
          &#160;
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        <td style="padding-left: 0.0px; text-align: left; width: 8%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Item 9.01</b>
          </p>
        </td>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 88%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Financial Statements and Exhibits.</b>
          </p>
        </td>
      </tr>
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        <td style="width: 8%">

        </td>
        <td style="width: 4%">

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          &#160;
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        <td style="padding-left: 0.0px; text-align: right; width: 8%" valign="top">
          (d)
        </td>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 88%" valign="top">
          Exhibits.
        </td>
      </tr>
    </table>
    </div>
    <p style="white-space: nowrap; text-align: justify">

    </p>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            Exhibit<br>Number
          </p>
        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; width: 1%" valign="top">
          &#160;
        </td>
        <td style="padding-left: 5.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; width: 88%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Description
          </p>
        </td>
      </tr>
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        <td style="width: 11%">

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

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 88%" valign="top">
          &#160;
        </td>
      </tr>
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        <td style="white-space: nowrap; padding-left: 10.0px; padding-right: 0.0px; text-align: left; width: 11%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            99.1
          </p>
        </td>
        <td style="width: 1%">

        </td>
        <td style="padding-left: 5.0px; text-align: left; width: 88%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Press Release Dated February 27, 2019. *
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 11%">

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

        </td>
        <td style="width: 88%">
          &#160;
        </td>
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        <td style="width: 11%">

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

        </td>
        <td style="width: 88%">
          &#160;
        </td>
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        <td style="width: 11%">

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

        </td>
        <td style="padding-left: 5.0px; text-align: left; width: 88%" valign="top">
          <p style="font-family: Times New Roman; font-size: 10pt">
            *This exhibit is intended to be furnished and shall not be deemed
            &quot;filed&quot; for purposes of the Exchange Act.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      <b>Forward Looking Statements</b>
    </p>
    <p style="text-align: justify">
      The information presented in this Current Report on Form 8-K 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, cash flows and restructuring activities
      including headcount reductions and other cost savings initiatives.
      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, 2017 and other reports on file with the Securities and Exchange
      Commission.
    </p>
    <p>

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

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

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

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        <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>
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        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            ITRON, INC.
          </p>
        </td>
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        <td style="width: 50%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 45%" valign="top">
          &#160;
        </td>
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        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; width: 50%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Dated: February 27, 2019
          </p>
        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; width: 5%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            By:
          </p>
        </td>
        <td style="padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; width: 45%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ JOAN&#160;S. HOOPER
          </p>
        </td>
      </tr>
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        <td style="width: 50%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 5%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 45%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Joan S. Hooper
          </p>
        </td>
      </tr>
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        <td style="width: 50%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 5%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 45%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Senior Vice President and Chief Financial Officer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

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

    </p>
    <p style="text-align: center">
      <b>EXHIBIT INDEX</b><br><br>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt">
      <tr>
        <td style="padding-left: 10.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; width: 12%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Exhibit<br>Number
          </p>
        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; width: 3%" valign="top">
          &#160;
        </td>
        <td style="padding-left: 5.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; width: 85%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Description
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 12%">

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

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 85%" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="white-space: nowrap; padding-left: 10.0px; padding-right: 0.0px; text-align: left; width: 12%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51947417ex99_1.htm">99.1</a>
          </p>
        </td>
        <td style="width: 3%">

        </td>
        <td style="padding-left: 5.0px; text-align: left; width: 85%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51947417ex99_1.htm">Press Release Dated February 27,
            2019.</a>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
  </body>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51947417ex99_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 Fourth Quarter and Full Year 2018 Financial Results and 2019
      Guidance</b></font>
    </p>
    <p>
      LIBERTY LAKE, Wash.--(BUSINESS WIRE)--February 27, 2019--Itron, Inc.
      (NASDAQ:ITRI), which is innovating the way utilities and cities manage
      energy and water, announced today financial results for its fourth
      quarter and full year ended Dec.&#160;31, 2018. Highlights for the quarter
      and full year include:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Quarterly and full year revenue of $587 million and $2.4 billion;
      </li>
      <li style="margin-bottom: 10.0px">
        Quarterly and full year gross margin of 30.1 percent and 30.7 percent;
      </li>
      <li style="margin-bottom: 10.0px">
        Quarterly GAAP net income of $24 million and full year GAAP loss of
        $99 million;
      </li>
      <li style="margin-bottom: 10.0px">
        Quarterly GAAP diluted earnings per share of $0.60 and full year GAAP
        loss per share of $2.53;
      </li>
      <li style="margin-bottom: 10.0px">
        Quarterly and full year non-GAAP diluted earnings per share of $0.88
        and $2.65; and
      </li>
      <li style="margin-bottom: 10.0px">
        Quarterly and full year Adjusted EBITDA of $59 million and $236
        million.
      </li>
    </ul>
    <p>
      &#8220;A solid fourth quarter performance concluded the year as we transition
      to our new operating segments,&#8221; said Philip Mezey, Itron&#8217;s president and
      chief executive officer. &#8220;While we did experience some challenges during
      2018, we have made significant progress on our strategic initiatives,
      restructuring programs and integration efforts to deliver long-term
      value for our customers and investors.&#8221;
    </p>
    <p>
      &#8220;Looking ahead to 2019, we continue to execute on our strategy as we
      optimize our operations and drive progress on the technology roadmap,&#8221;
      continued Mezey. &#8220;We remain focused on delivering our financial and
      customer commitments as an energy, water and smart city leader.&#8221;
    </p>
    <p>
      <b>Summary of Fourth 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 $587 million increased 7 percent, or 9 percent
      excluding the impact of changes in foreign currency exchange rates,
      compared with the fourth quarter of 2017, driven by growth in the
      Networked Solutions segment.
    </p>
    <p>
      By segment, Networked Solutions revenue increased 20 percent driven by
      strong North America deployments. Device Solutions revenue decreased 5
      percent driven by lower shipments in EMEA, and Outcomes decreased 8
      percent on an unfavorable year over year comparison as several large
      software projects were completed in the prior year.
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; width: 100%; margin-bottom: 10pt">
      <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>Gross Margin</u>
    </p>
    <p>
      Consolidated gross margin of 30.1 percent decreased 170 basis points
      compared with the fourth quarter of 2017 driven primarily by higher
      special warranty costs.
    </p>
    <p>
      <u>Operating Income, Net Income and Earnings per Share (EPS)</u>
    </p>
    <p>
      GAAP operating income decreased to $29 million compared with $48 million
      in the fourth quarter of 2017 primarily driven by higher operating
      expenses from the acquisition of Silver Spring Networks. Non-GAAP
      operating income decreased to $49 million compared with $56 million in
      2017 due to higher operating expenses from the acquisition of Silver
      Spring Networks in 2018.
    </p>
    <p>
      GAAP net income attributable to Itron, Inc. for the quarter was $24
      million, or $0.60 per diluted share, compared with net income of $2
      million, or $0.05 per diluted share, in 2017. The higher GAAP net income
      and EPS were primarily driven by a GAAP tax benefit due to favorable
      discrete tax items.
    </p>
    <p>
      Non-GAAP net income of $35 million, or $0.88 per diluted share,
      decreased compared with $40 million, or $1.01 per diluted share, in
      2017. The decrease reflects lower non-GAAP operating income, partially
      offset by a Non-GAAP tax benefit driven by favorable discrete tax items.
    </p>
    <p>
      <u>Cash Flow</u>
    </p>
    <p>
      In the fourth quarter, cash provided by operating activities of $42
      million and free cash flow of $25 million decreased compared with the
      fourth quarter of 2017. The decrease in cash flow was primarily driven
      by the timing of working capital.
    </p>
    <p>
      <b>Other Measures</b>
    </p>
    <p>
      Bookings were $786 million in the fourth quarter. This is a book to bill
      ratio of 1.3 for the quarter and over 1 to 1 for the full year. Total
      backlog was $3.2 billion and 12-month backlog was $1.3 billion at the
      end of the quarter, a year-over-year increase of 81 percent and 45
      percent, respectively.
    </p>
    <p>
      <b>Financial Guidance</b>
    </p>
    <p>
      Itron&#8217;s guidance for the full year 2019 is as follows:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Revenue between $2.35 and $2.75 billion
      </li>
      <li style="margin-bottom: 10.0px">
        Non-GAAP diluted EPS between $2.35 and $2.75
      </li>
    </ul>
    <p>
      Guidance assumes an average euro to U.S. dollar foreign currency
      exchange rate of $1.14 in 2019, diluted weighted average shares
      outstanding of approximately 40.65 million for the year, a non-GAAP
      effective tax rate for the year of approximately 31 percent and total
      interest expense of $50 million.
    </p>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; width: 100%; margin-bottom: 10pt">
      <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>
      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. EST on Feb. 27, 2019.
      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 Mar.
      4, 2019. To access the telephone replay, dial (888) 203-1112 (domestic)
      or (719) 457-0820 (international) and enter passcode 9539336.
    </p>
    <p>
      <b>About Itron</b>
    </p>
    <p>
      Itron enables utilities and cities to safely, securely and reliably
      deliver critical infrastructure services to communities in more than 100
      countries. Our portfolio of smart networks, software, services, meters
      and sensors helps our customers better manage electricity, gas and water
      resources for the people they serve. By working with our customers to
      ensure their success, we help improve the quality of life, ensure the
      safety and promote the well-being of millions of people around the
      globe. Itron is dedicated to creating a more resourceful world. Join us: <u>www.itron.com</u>.
    </p>
    <p>
      Itron&#174; and OpenWay&#174; 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="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; width: 100%; margin-bottom: 10pt">
      <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.
      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 and other factors that are more fully
      described in our Annual Report on Form 10-K for the year ended Dec. 31,
      2017 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="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; width: 100%; margin-bottom: 10pt">
      <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="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 8pt">
      <tr>
        <td colspan="18">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="18" style="padding-left: 0.0px; text-align: center" valign="bottom">
          <b>ITRON, INC.</b>
        </td>
      </tr>
      <tr>
        <td colspan="18" style="padding-left: 0.0px; text-align: center" valign="bottom">
          <b>CONSOLIDATED STATEMENTS OF OPERATIONS</b>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

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

        </td>
      </tr>
      <tr>
        <td colspan="5" style="padding-left: 0.0px; text-align: left" valign="bottom">
          (Unaudited, in thousands, except per share data)
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td colspan="7" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>Three Months Ended</b><br><b>December 31,</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>Twelve Months Ended</b><br><b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>2018</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="3" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>2018</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="3" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>2017</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Revenues
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Product revenues
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          516,718
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          492,863
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          2,095,458
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          1,813,925
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          Service revenues
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          70,326
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          57,913
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          280,659
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          204,272
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 30.0px; text-align: left" valign="bottom">
          Total revenues
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          587,044
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          550,776
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          2,376,117
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          2,018,197
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Cost of revenues
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Product cost of revenues
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          369,912
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          338,839
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          1,476,498
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          1,204,127
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          Services cost of revenues
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          40,342
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          36,855
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          169,300
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          137,319
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 30.0px; text-align: left" valign="bottom">
          Total cost of revenues
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          410,254
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          375,694
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          1,645,798
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          1,341,446
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; 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>

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

        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          176,790
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          175,082
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          730,319
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          676,751
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Sales, general and administrative
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          90,377
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          79,083
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          423,210
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          325,264
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Product development
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          45,607
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          43,161
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          207,905
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          169,407
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Amortization of intangible assets
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          18,014
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          5,641
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          71,713
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          20,785
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          Restructuring
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (5,725
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (999
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          77,183
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          6,418
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 30.0px; text-align: left" valign="bottom">
          Total operating expenses
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          148,273
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          126,886
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          780,011
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          521,874
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; 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>

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

        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          28,517
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          48,196
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (49,692
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          154,877
        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Interest income
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          658
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Interest expense
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (13,883
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (3,769
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (58,203
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (13,845
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          Other income (expense), net
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (811
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (632
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (3,409
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (8,583
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 30.0px; text-align: left" valign="bottom">
          Total other income (expense)
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (14,266
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (3,743
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (59,459
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (20,302
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          14,251
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          44,453
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (109,151
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          134,575
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          10,878
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (42,079
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          12,570
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (74,326
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Net income (loss)
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          25,129
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          2,374
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (96,581
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          60,249
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          Net income attributable to noncontrolling interests
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          1,252
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          594
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          2,669
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          2,951
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          Net income (loss) attributable to Itron, Inc.
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          23,877
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          1,780
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (99,250
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          57,298
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; 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>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          0.61
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          0.05
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (2.53
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          1.48
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          Earnings (loss) per common share - Diluted
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          0.60
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          0.05
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (2.53
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          1.45
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; 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>

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

        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          39,444
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          38,745
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          39,244
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          38,655
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          39,885
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          39,530
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          39,244
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          39,387
        </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>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; width: 100%; margin-bottom: 10pt">
      <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="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 8pt">
      <tr>
        <td colspan="18">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="18" style="padding-left: 0.0px; text-align: center" valign="bottom">
          <b>ITRON, INC.</b>
        </td>
      </tr>
      <tr>
        <td colspan="18" style="padding-left: 0.0px; text-align: center" valign="bottom">
          <b>SEGMENT INFORMATION</b>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

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

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td colspan="7" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>Three Months Ended</b><br><b>December 31,</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>Twelve Months Ended</b><br><b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>2018</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="3" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>2018</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="3" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>2017</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Revenues</b>
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Device Solutions
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          227,602
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          238,438
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          933,365
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          882,896
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Networked Solutions
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          305,132
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          253,588
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          1,224,144
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          947,384
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          Outcomes
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          54,310
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          58,750
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          218,608
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          187,917
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 30.0px; text-align: left" valign="bottom">
          Total Company
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          587,044
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          550,776
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          2,376,117
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          2,018,197
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; 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>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Device Solutions
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          38,423
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          54,244
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          187,254
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          216,631
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Networked Solutions
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          122,883
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          105,868
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          482,471
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          412,375
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          Outcomes
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          15,484
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          14,970
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          60,594
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          47,745
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 30.0px; text-align: left" valign="bottom">
          Total Company
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          176,790
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          175,082
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          730,319
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          676,751
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; 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>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Device Solutions
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          25,267
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          40,324
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          130,988
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          159,641
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Networked Solutions
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          94,897
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          82,867
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          360,779
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          322,367
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Outcomes
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          6,668
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          3,752
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          16,634
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          4,915
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          Corporate unallocated
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (98,315
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (78,747
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (558,093
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (332,046
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 30.0px; text-align: left" valign="bottom">
          Total Company
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          28,517
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          48,196
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (49,692
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          154,877
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; 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>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="18" style="padding-left: 0.0px; text-align: center" valign="bottom">
          <b>METER AND MODULE SUMMARY</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td colspan="7" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>Three Months Ended</b><br><b>December 31,</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>Year Ended</b><br><b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>2018</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="3" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>2018</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="3" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>2017</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <b>Itron Endpoints</b>
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Standard endpoints
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          4,140
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          3,740
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          16,360
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          15,740
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          Networked endpoints
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          5,170
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          4,630
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          21,540
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          16,640
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 30.0px; text-align: left" valign="bottom">
          Total endpoints
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          9,310
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          8,370
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          37,900
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          32,380
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; 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>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; width: 100%; margin-bottom: 10pt">
      <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="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 8pt">
      <tr>
        <td colspan="10">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="10" style="padding-left: 0.0px; text-align: center" valign="bottom">
          <b>ITRON, INC.</b>
        </td>
      </tr>
      <tr>
        <td colspan="10" style="padding-left: 0.0px; text-align: center" valign="bottom">
          <b>CONSOLIDATED BALANCE SHEETS</b>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td colspan="3" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>December 31, 2018</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="3" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>December 31, 2017</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" valign="bottom">
          <b>ASSETS</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          120,221
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          176,274
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Accounts receivable, net
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          437,161
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          398,029
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Inventories
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          220,674
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          193,835
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          Other current assets
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          118,085
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          81,604
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="bottom">
          Total current assets
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          896,141
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          849,742
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          226,551
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          200,768
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          64,830
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          49,971
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          2,056
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          311,010
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          45,288
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          43,666
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          257,583
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          95,228
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          1,116,533
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          555,762
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 30.0px; text-align: left" valign="bottom">
          Total assets
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          2,608,982
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          2,106,147
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Accounts payable
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          309,951
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          262,166
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Other current liabilities
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          70,136
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          56,736
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Wages and benefits payable
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          88,603
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          90,505
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Taxes payable
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          14,753
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          16,100
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Current portion of debt
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          28,438
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          19,688
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Current portion of warranty
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          47,205
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          21,150
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          Unearned revenue
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          93,621
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          41,438
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="bottom">
          Total current liabilities
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          652,707
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          507,783
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          988,185
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          593,572
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          13,238
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          13,712
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          91,522
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          95,717
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          1,543
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          1,525
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          127,739
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          88,206
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="bottom">
          Total liabilities
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          1,874,934
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          1,300,515
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Common stock
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          1,334,364
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          1,294,767
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Accumulated other comprehensive loss, net
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (196,305
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (170,478
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          Accumulated deficit
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (425,396
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (337,873
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="bottom">
          Total Itron, Inc. shareholders' equity
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          712,663
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          786,416
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          Non-controlling interests
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          21,385
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          19,216
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 30.0px; text-align: left" valign="bottom">
          Total equity
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          734,048
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          805,632
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 30.0px; text-align: left" valign="bottom">
          Total liabilities and equity
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          2,608,982
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          2,106,147
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; 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>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; width: 100%; margin-bottom: 10pt">
      <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="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 8pt">
      <tr>
        <td colspan="10">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="10" style="padding-left: 0.0px; text-align: center" valign="bottom">
          <b>ITRON, INC.</b>
        </td>
      </tr>
      <tr>
        <td colspan="10" style="padding-left: 0.0px; text-align: center" valign="bottom">
          <b>CONSOLIDATED STATEMENTS OF CASH FLOWS</b>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td colspan="8" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>Year Ended</b><br><b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>2018</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="3" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>2017</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Operating activities
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Net income (loss)
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (96,581
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          60,249
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Adjustments to reconcile net income (loss) to net cash provided by
          operating activities:
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          122,497
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          63,215
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          31,263
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          21,407
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          7,046
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          1,067
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="bottom">
          Deferred taxes, net
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (19,130
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          50,667
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          859
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (2,297
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="bottom">
          Other adjustments, net
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          1,452
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          3,673
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          Changes in operating assets and liabilities, net of acquisitions:
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Accounts receivable
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          15,524
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (17,573
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Inventories
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (25,613
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (16,242
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Other current assets
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (23,589
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          8,112
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Other long-term assets
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          3,020
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          11,230
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Accounts payable, other current liabilities, and taxes payable
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          20,101
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          78,463
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Wages and benefits payable
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (9,565
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          1,926
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Unearned revenue
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          27,584
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (41,309
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Warranty
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          20,815
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (10,554
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          Other operating, net
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          34,072
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (20,680
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="bottom">
          Net cash provided by operating activities
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          109,755
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          191,354
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Acquisitions of property, plant, and equipment
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (59,952
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (49,495
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Business acquisitions, net of cash equivalents acquired
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (803,075
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (99,386
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          Other investing, net
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          369
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          702
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="bottom">
          Net cash used in investing activities
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (862,658
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (148,179
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Proceeds from borrowings
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          778,938
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          335,000
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Payments on debt
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (363,359
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (29,063
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Issuance of common stock
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          9,171
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          3,609
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          Prepaid debt fees
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (24,042
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          Other financing, net
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (4,887
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (7,587
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="bottom">
          Net cash provided by financing activities
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          395,821
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          301,959
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (7,925
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          8,636
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          (Decrease) increase in cash, cash equivalents, and restricted cash
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (365,007
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          353,770
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          487,335
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          133,565
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="bottom">
          Cash, cash equivalents, and restricted cash at end of period
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          122,328
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          487,335
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; 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>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; width: 100%; margin-bottom: 10pt">
      <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, and the impact of
      the Tax Cuts and Jobs Act (&#8220;Tax Act&#8221;). 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="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; width: 100%; margin-bottom: 10pt">
      <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, impact from the Tax Act 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="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; width: 100%; margin-bottom: 10pt">
      <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="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 8pt">
      <tr>
        <td colspan="18">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="18" style="padding-left: 0.0px; text-align: center" valign="bottom">
          <b>ITRON, INC.</b>
        </td>
      </tr>
      <tr>
        <td colspan="18" style="padding-left: 0.0px; text-align: center" valign="bottom">
          <b>RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES</b>
        </td>
      </tr>
      <tr>
        <td colspan="18" style="padding-left: 0.0px; text-align: center" valign="bottom">
          <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>
          &#160;
        </td>
        <td colspan="3">

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

        </td>
      </tr>
      <tr>
        <td colspan="18" style="padding-left: 0.0px; text-align: left" valign="bottom">
          (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>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left" valign="bottom">
          <b>TOTAL COMPANY RECONCILIATIONS</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="7" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>Three Months Ended December 31,</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>Twelve Months Ended December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>2018</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="3" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>2017</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>2018</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="3" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: center" valign="bottom">
          <b>2017</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <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>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          GAAP net income (loss) attributable to Itron, Inc.
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          23,877
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          1,780
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (99,250
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          57,298
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          18,014
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          5,641
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          71,713
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          20,785
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          1,176
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          241
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          6,869
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          966
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (5,725
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (999
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          77,183
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          6,418
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          8,042
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          3,095
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          91,916
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          17,139
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="bottom">
          Tax Cuts and Jobs Act adjustment
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          30,424
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          30,424
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 30.0px; text-align: left" valign="bottom">
          Income tax effect of non-GAAP adjustments
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (10,249
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (391
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (42,700
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (12,544
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          Non-GAAP net income attributable to<br>Itron, Inc.
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          35,135
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          39,791
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          105,731
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          120,486
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; 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>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          Non-GAAP diluted EPS
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          0.88
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          1.01
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          2.65
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          3.06
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; 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>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          Weighted average common shares outstanding - Diluted
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          39,885
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          39,530
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          39,840
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          39,387
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; 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>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          GAAP net income (loss) attributable to Itron, Inc.
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          23,877
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          1,780
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (99,250
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          57,298
        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (658
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (2,126
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="bottom">
          Interest expense
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          13,883
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          3,769
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          58,203
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          13,845
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (10,878
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          42,079
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (12,570
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          74,326
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          30,069
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          17,215
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          122,497
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          63,215
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (5,725
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (999
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          77,183
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          6,418
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          8,042
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          3,095
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          91,916
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          17,139
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          Adjusted EBITDA
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          58,840
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          66,281
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          235,826
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          230,115
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; 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>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          42,372
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          76,853
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          109,755
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          191,354
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (17,459
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (16,002
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (59,952
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (49,495
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          Free Cash Flow
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          24,913
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          60,851
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          49,803
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          141,859
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; 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>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          GAAP operating income (loss)
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          28,517
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          48,196
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (49,692
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          154,877
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          18,014
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          5,641
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          71,713
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          20,785
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (5,725
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (999
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          77,183
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          6,418
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          8,042
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          3,095
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          91,916
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          17,139
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          Non-GAAP operating income
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          48,848
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          55,933
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          191,120
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          199,219
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; 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>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="bottom">
          GAAP operating expenses
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          148,273
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          126,886
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          780,011
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          521,874
        </td>
        <td>

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

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (18,014
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (5,641
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (71,713
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (20,785
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="bottom">
          Restructuring
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          5,725
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          999
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (77,183
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: right" valign="bottom">
          (6,418
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 30.0px; text-align: left" valign="bottom">
          Acquisition and integration related expense
        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (8,042
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (3,095
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (91,916
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          (17,139
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-right: 0.0px; border-bottom-color: black; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 15.0px; text-align: left" valign="bottom">
          Non-GAAP operating expenses
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          127,942
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          119,149
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          539,199
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; padding-left: 0.0px; border-bottom-style: double; border-bottom-width: 2.25pt; padding-right: 0.0px; border-bottom-color: black; text-align: right" valign="bottom">
          477,532
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br><b>Itron, Inc.</b><br>Kenneth P. Gianella<br>Vice President,
      Investor Relations<br>(669) 770-4643<br>
    </p>
    <p>
      Rebecca Hussey<br>Manager, Investor Relations<br>(509) 891-3574
    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
