<SEC-DOCUMENT>0001157523-19-001096.txt : 20190506
<SEC-HEADER>0001157523-19-001096.hdr.sgml : 20190506
<ACCEPTANCE-DATETIME>20190506160811
ACCESSION NUMBER:		0001157523-19-001096
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190506
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190506
DATE AS OF CHANGE:		20190506

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:		19799362

	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>a51980249.htm
<DESCRIPTION>ITRON, INC. 8-K
<TEXT>
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      <font style="font-size: 16pt; font-family: Times New Roman"><b>UNITED
      STATES</b></font><b><font style="font-size: 16pt; font-family: Times New Roman"><br style="font-size: 16pt; font-family: Times New Roman"></font><font style="font-size: 16pt; font-family: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font></b><br><font style="font-size: 12pt; font-family: Times New Roman"><b>Washington,
      D.C. 20549</b></font><br><br>
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    <hr style="width: 15%; text-align: center; height: 1.0 pt; color: #000000">


    <p style="text-align: center">
      <font style="font-size: 18pt; font-family: Times New Roman"><b>FORM 8-K</b></font><br><br><font style="font-size: 10pt; font-family: Times New Roman"><b>CURRENT
      REPORT</b></font><font style="font-size: 10pt"><br style="font-size: 10pt"></font><font style="font-size: 10pt; font-family: Times New Roman"><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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          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>May 6, 2019</b>
          </p>
        </td>
        <td style="width: 35%">

        </td>
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        <td colspan="3" style="text-align: center; padding-left: 0.0px" 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">
            <font style="font-size: 16pt"><b>ITRON, INC.</b></font>
          </p>
        </td>
        <td style="width: 25%">

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

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            <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>
        </td>
        <td style="width: 5%">
          &#160;
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        <td style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; width: 30%; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>91-1011792</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; width: 30%; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or Other Jurisdiction<br>of Incorporation)
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        </td>
        <td style="text-align: center; width: 30%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission File No.)
          </p>
        </td>
        <td style="width: 5%">

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

    </p>
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    <table style="margin-left:auto;margin-right:auto; font-size: 10pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 95%" cellspacing="0">
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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="text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Address of Principal Executive Offices, Zip Code)
          </p>
        </td>
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    </div>
    <p>

    </p>
    <div style="text-align:center">
    <table style="margin-left:auto;margin-right:auto; font-size: 10pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 95%" cellspacing="0">
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(509) 924-9900</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" 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 style="margin-left:auto;margin-right:auto; font-size: 10pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 95%" cellspacing="0">
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          &#160;
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        <td style="text-align: center; padding-left: 0.0px" 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-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font><br><font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font><br><font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font><br><font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">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-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
          </p>
        </td>
      </tr>
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          &#160;
        </td>
      </tr>
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        <td style="text-align: left; padding-left: 0.0px" 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-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
          </p>
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    <p style="text-align: left">

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

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

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

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

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

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

        </td>
        <td style="width: 88%">
          &#160;
        </td>
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        <td style="width: 8%">

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        <td style="width: 4%">

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        <td style="text-align: left; width: 88%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            On May 6, 2019, Itron, Inc. (the &#8220;Company&#8221;) issued a press release
            announcing its financial results for the three months ended March
            31, 2019. A copy of this press release and accompanying financial
            statements are attached as Exhibit 99.1.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: justify">

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

        </td>
        <td style="width: 88%">
          &#160;
        </td>
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          <p style="text-align: justify">
            &#160;&#160;&#160;(d)
          </p>
        </td>
        <td style="width: 4%">

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

    </p>
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        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; width: 12%; padding-left: 0.0px" valign="bottom">
          Exhibit

          <p style="margin-top: 0px; margin-bottom: 0px">
            Number
          </p>
        </td>
        <td style="width: 1%">
          &#160;
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; width: 87%; padding-left: 0.0px" valign="bottom">
          Description
        </td>
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        <td style="width: 12%">

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

        </td>
        <td style="width: 87%">
          &#160;
        </td>
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        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; width: 12%; padding-left: 0.0px" valign="top">
          99.1
        </td>
        <td style="width: 1%">

        </td>
        <td style="text-align: left; width: 87%; padding-left: 0.0px" valign="top">
          Press Release Dated May 6, 2019.*
        </td>
      </tr>
      <tr>
        <td style="width: 12%">

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

        </td>
        <td style="width: 87%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 12%">

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

        </td>
        <td style="width: 87%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 12%">

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

        </td>
        <td style="text-align: left; width: 87%; padding-left: 0.0px" valign="top">
          *This exhibit is intended to be furnished and shall not be deemed
          &quot;filed&quot; for purposes of the Exchange Act.
        </td>
      </tr>
    </table>
    </div>
    <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&#160;31, 2018 and other reports on file with the Securities and
      Exchange Commission.
    </p>
    <p>

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

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

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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-size: 10pt; font-family: Times New Roman"><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>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" 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="text-align: left; width: 45%; padding-left: 0.0px" valign="top">
          &#160;
        </td>
      </tr>
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        <td style="text-align: left; padding-bottom: 2.0px; width: 50%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; width: 5%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            By:
          </p>
        </td>
        <td style="text-align: center; border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; width: 45%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ JOAN&#160;S. HOOPER
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; width: 50%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Dated: May 6, 2019
          </p>
        </td>
        <td style="text-align: left; width: 5%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="text-align: center; width: 45%; padding-left: 0.0px" 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="text-align: left; width: 5%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="text-align: center; width: 45%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Senior Vice President and Chief Financial Officer
          </p>
        </td>
      </tr>
    </table>
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    <div style="margin-right: 0pt; margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-left: 0pt">
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    </p>
    <p style="text-align: center">
      <b>EXHIBIT INDEX</b><br><br>
    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%" cellspacing="0">
      <tr>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; width: 12%; padding-left: 10.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Exhibit<br>Number
          </p>
        </td>
        <td style="text-align: left; padding-bottom: 2.0px; width: 1%; padding-left: 0.0px" valign="top">
          &#160;
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt; width: 87%; padding-left: 5.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Description
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 12%">

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

        </td>
        <td style="text-align: left; width: 87%; padding-left: 0.0px" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; width: 12%; padding-left: 10.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51980249ex99_1.htm">99.1</a>
          </p>
        </td>
        <td style="width: 1%">

        </td>
        <td style="text-align: left; width: 87%; padding-left: 10.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51980249ex99_1.htm">Press Release Dated May 6, 2019.*</a>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 12%">

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

        </td>
        <td style="width: 87%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 12%">

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

        </td>
        <td style="width: 87%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 12%">

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

        </td>
        <td style="text-align: left; width: 87%; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            *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>

    </p>
  </body>
</html>
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     PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN"
     "http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd">-->
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51980249ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2019 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <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-size: 12pt; font-family: Times New Roman"><b>Itron
      Announces First Quarter 2019 Financial Results</b></font>
    </p>
    <p>
      LIBERTY LAKE, Wash.--(BUSINESS WIRE)--May 6, 2019--Itron, Inc.
      (NASDAQ:ITRI) announced today financial results for its first quarter
      ended March 31, 2019. Key results for the quarter include:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Revenue of $615 million, compared with $607 million in the first
        quarter of 2018;
      </li>
      <li style="margin-bottom: 10.0px">
        Gross margin of 30.5%, compared with 29.6% in the first quarter of
        2018;
      </li>
      <li style="margin-bottom: 10.0px">
        GAAP net loss of $2 million, compared with a net loss of $146 million
        in the first quarter of 2018;
      </li>
      <li style="margin-bottom: 10.0px">
        GAAP loss per share of $0.05, compared with a loss of $3.74 in the
        first quarter of 2018;
      </li>
      <li style="margin-bottom: 10.0px">
        Non-GAAP diluted EPS of $0.70, compared with $0.13 in the first
        quarter of 2018;
      </li>
      <li style="margin-bottom: 10.0px">
        Adjusted EBITDA of $66 million, compared with $40 million in the first
        quarter of 2018; and
      </li>
      <li style="margin-bottom: 10.0px">
        Total backlog of $3.0 billion, compared with $3.1 billion at the end
        of the first quarter of 2018.
      </li>
    </ul>
    <p>
      &quot;We are pleased with first quarter results, which were driven
      by&#160;improved operating performance and&#160;higher-margin software revenue
      associated with&#160;customer projects,&quot; said Philip Mezey, Itron's president
      and chief executive officer.
    </p>
    <p>
      &quot;We are seeing benefits from our operational initiatives, including the
      realigned business segments, which are executing and performing well. In
      addition, ongoing transformation and integration initiatives are
      contributing to improved results,&quot; continued Mezey.
    </p>
    <div style="margin-right: 0pt; margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-left: 0pt">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
    <p>
      <b>Summary of First 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 increased 1% to $615 million, or 5% excluding the impact
      of changes in foreign currency exchange rates, in the first quarter.
    </p>
    <p>
      Networked Solutions revenue increased 11% and Outcomes increased 2%
      driven by continued strength in North America deployments. Device
      Solutions revenue decreased 11% due to the impact of changes in foreign
      currency exchange rates and lower shipments in Europe.
    </p>
    <p>
      <u>Gross Margin</u>
    </p>
    <p>
      Consolidated company gross margin of 30.5% increased from 29.6% in the
      prior year. The increase was driven by favorable product mix, including
      higher-margin software deliveries.
    </p>
    <p>
      <u>Operating Expenses and Operating Income</u>
    </p>
    <p>
      GAAP operating expenses of $166 million decreased $154 million from the
      prior year primarily due to lower restructuring, acquisition and
      integration related expenses. Non-GAAP operating expenses of
      $131&#160;million decreased $21 million from the prior year in part due to
      benefits from restructuring and integration initiatives.
    </p>
    <p>
      GAAP operating income increased to $21 million from a loss of $140
      million in the first quarter of 2018. The increase is due to lower GAAP
      operating expenses, primarily restructuring, acquisition and integration
      related expenses, and higher gross profit. Non-GAAP operating income
      increased to $57&#160;million from $28 million in 2018 driven by lower
      non-GAAP operating expenses and improved gross profit.
    </p>
    <p>
      <u>Net Income (loss) and Earnings per Share</u>
    </p>
    <p>
      The net loss attributable to Itron for the quarter was $2 million, or
      $0.05 per share, a decrease from a net loss of $146 million, or $3.74
      per share, in 2018. The net loss improvement was driven by higher
      operating income.
    </p>
    <p>
      Non-GAAP net income, which excludes certain charges including
      restructuring, acquisition and integration related expenses,
      amortization of intangible assets, and amortization of debt placement
      fees, was $28 million, or $0.70 per diluted share, compared with $5
      million, or $0.13 per diluted share, in 2018. The increase in non-GAAP
      EPS was due to higher non-GAAP operating income and a lower effective
      tax rate.
    </p>
    <p>
      <u>Cash Flow</u>
    </p>
    <p>
      Net cash provided by operating activities was $25 million in the first
      quarter compared with negative $24&#160;million in the same quarter of 2018.
      Free cash flow was $14 million in the first quarter compared with
      negative $42 million in the prior year. Higher cash flow was driven
      primarily by higher operating income and less cash outlays related to
      restructuring, acquisition and integration related expenses.
    </p>
    <div style="margin-right: 0pt; margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-left: 0pt">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
    <p>
      <b>Other Measures</b>
    </p>
    <p>
      Total backlog was $3.0 billion and 12-month backlog&#160;was&#160;$1.4 billion at
      the end of the quarter, compared with $3.1 billion and $1.4 billion,
      respectively, in the prior year quarter. Bookings in the quarter totaled
      $473 million.
    </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 p.m. EDT on May 6, 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 May
      11, 2019. To access the telephone replay, dial 888-203-1112 or
      719-457-0820, and enter passcode <b>5342456</b>.
    </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="margin-right: 0pt; margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-left: 0pt">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
    <p>
      <b>Cautionary Note Regarding Forward Looking Statements</b>
    </p>
    <p>
      This release contains &quot;forward-looking statements&quot; within in the meaning
      of the safe harbor provisions of the U.S. Private Securities Litigation
      Reform Act of 1995. Forward-looking statements are neither historical
      factors nor assurances of future performance. These statements relate to
      our expectations about, among others, 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. Therefore, you should not rely on any of these
      forward-looking statements. 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, 2018 and other reports on file with the
      Securities and Exchange Commission. Itron undertakes no obligation to
      update or revise any information in this press release.
    </p>
    <p>
      <b>Non-GAAP Financial Information</b>
    </p>
    <p>
      To supplement our consolidated financial statements presented in
      accordance with GAAP, we use certain non-GAAP financial measures,
      including non-GAAP operating expense, non-GAAP operating income,
      non-GAAP net income, non-GAAP diluted EPS, adjusted EBITDA, adjusted
      EBITDA margin, constant currency and free cash flow. We provide these
      non-GAAP financial measures because we believe they provide greater
      transparency and represent supplemental information used by management
      in its financial and operational decision making. We exclude certain
      costs in our non-GAAP financial measures as we believe the net result is
      a measure of our core business. The company believes these measures
      facilitate operating performance comparisons from period to period by
      eliminating potential differences caused by the existence and timing of
      certain expense items that would not otherwise be apparent on a GAAP
      basis. Non-GAAP performance measures should be considered in addition
      to, and not as a substitute for, results prepared in accordance with
      GAAP. Our non-GAAP financial measures may be different from those
      reported by other companies. A more detailed discussion of why we use
      non-GAAP financial measures, the limitations of using such measures, and
      reconciliations between non-GAAP and the nearest GAAP financial measures
      are included in this press release.
    </p>
    <div style="margin-right: 0pt; margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-left: 0pt">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%" cellspacing="0">
      <tr>
        <td colspan="9" style="text-align: center; padding-left: 0.0px" valign="bottom">
          <b>ITRON, INC.</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="text-align: center; padding-left: 0.0px" 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>
      </tr>
      <tr>
        <td colspan="5" style="text-align: left; padding-left: 0.0px" valign="bottom">
          (Unaudited, in thousands, except per share data)
        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          <b>2019</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="3" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          <b>2018</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Revenues
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          544,850
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          537,110
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          69,726
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          70,111
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="bottom">
          Total revenues
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          614,576
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          607,221
        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          386,102
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          382,850
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          41,211
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          44,516
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="bottom">
          Total cost of revenues
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          427,313
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          427,366
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Gross profit
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          187,263
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          179,855
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          92,715
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          154,414
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          50,490
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          60,284
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          15,973
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          17,740
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          7,262
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          87,865
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="bottom">
          Total operating expenses
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          166,440
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          320,303
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          20,823
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (140,448
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Other income (expense)
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          328
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          661
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (13,535
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (15,504
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="bottom">
          Other income (expense), net
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          (1,644
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          (1,167
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="bottom">
          Total other income (expense)
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          (14,851
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          (16,010
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          5,972
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (156,458
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">
          Income tax benefit (provision)
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          (6,121
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          11,188
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Net loss
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (145,270
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="bottom">
          Net income attributable to noncontrolling interests
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          1,758
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          396
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="bottom">
          Net loss attributable to Itron, Inc.
        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          (1,907
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          (145,666
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          (0.05
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          (3.74
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="bottom">
          Net income (loss) per common share - Diluted
        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          (0.05
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          (3.74
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          39,658
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          38,945
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          39,658
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          38,945
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

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

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

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

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

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          <b>2019</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="3" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          <b>2018</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Product revenues</b>
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          218,569
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          245,423
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          314,350
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          279,795
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          11,931
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          11,892
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 20.0px" valign="bottom">
          Total Company
        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          544,850
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          537,110
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3,186
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3,944
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          22,077
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          22,543
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          44,463
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          43,624
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 20.0px" valign="bottom">
          Total Company
        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          69,726
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          70,111
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          221,755
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          249,367
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          336,427
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          302,338
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          56,394
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          55,516
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 20.0px" valign="bottom">
          Total Company
        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          614,576
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          607,221
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          39,916
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          53,604
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          127,068
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          114,241
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          20,279
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          12,010
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 20.0px" valign="bottom">
          Total Company
        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          187,263
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          179,855
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          25,457
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          38,192
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          95,322
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          79,943
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          10,410
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (655
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="bottom">
          Corporate unallocated
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          (110,366
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          (257,928
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 20.0px" valign="bottom">
          Total Company
        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          20,823
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          (140,448
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%" cellspacing="0">
      <tr>
        <td colspan="6" style="text-align: center; padding-left: 0.0px" valign="bottom">
          <b>METER AND MODULE SUMMARY</b>
        </td>
      </tr>
      <tr>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="4" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          <b>Three Months Ended March 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          <b>2019</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          <b>2018</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Itron Endpoints</b>
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3,960
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          4,140
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="bottom">
          Networked endpoints
        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          5,490
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          5,540
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 20.0px" valign="bottom">
          Total endpoints
        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          9,450
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          9,680
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

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

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

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

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

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

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

        </td>
        <td>

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

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

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          <b>March 31, 2019</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="3" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          <b>December 31, 2018</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          <b>ASSETS</b>
        </td>
        <td>

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

        </td>
        <td>

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

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

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

        </td>
        <td>

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

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

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          110,828
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          473,077
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          221,097
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          129,975
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          118,085
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="bottom">
          Total current assets
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          934,977
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          224,938
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          63,493
        </td>
        <td>

        </td>
        <td>

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

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

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

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          46,944
        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Operating lease right-of-use assets, net
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          77,888
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          239,988
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          1,106,305
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          1,116,533
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 20.0px" valign="bottom">
          Total assets
        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          2,696,619
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          2,608,982
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

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

        </td>
        <td>

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

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

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          331,441
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          70,876
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          96,802
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          16,585
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          22,500
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          39,737
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          87,937
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          93,621
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="bottom">
          Total current liabilities
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          665,878
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          980,979
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          17,795
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          90,925
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,509
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          66,865
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          140,637
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          127,739
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="bottom">
          Total liabilities
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,964,588
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,334,793
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (198,085
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (196,305
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="bottom">
          Accumulated deficit
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          (427,303
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          (425,396
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="bottom">
          Total Itron, Inc. shareholders' equity
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          709,405
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          22,626
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          21,385
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="bottom">
          Total equity
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          732,031
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          734,048
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 20.0px" valign="bottom">
          Total liabilities and equity
        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          2,696,619
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          2,608,982
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%" cellspacing="0">
      <tr>
        <td colspan="9" style="text-align: center; padding-left: 0.0px" valign="bottom">
          <b>ITRON, INC.</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="text-align: center; padding-left: 0.0px" 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 colspan="3">

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

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          <b>2019</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="3" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          <b>2018</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Operating activities
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (149
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (145,270
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          Adjustments to reconcile net income (loss) to net cash provided by
          (used in) operating activities:
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          28,427
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          31,072
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="bottom">
          Amortization of operating right-of-use assets
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          4,910
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          7,205
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          8,095
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,200
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3,386
        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (16,508
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="bottom">
          Restructuring, non-cash
        </td>
        <td>

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

        </td>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (106
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Changes in operating assets and liabilities, net of acquisitions
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (37,977
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (7,768
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          Inventories
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (1,659
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (253
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          Other current assets
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (11,030
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (8,849
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          Other long-term assets
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          4,509
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          12,312
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          7,826
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          8,465
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          16,438
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          8,235
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          23,317
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (2,569
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          7,510
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          58,953
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="bottom">
          Net cash provided by (used) by operating activities
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          24,924
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (24,448
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (11,415
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (17,433
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          Business acquisitions, net of cash equivalents acquired
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (802,488
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="bottom">
          Other investing, net
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          299
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          100
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="bottom">
          Net cash used in investing activities
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (11,116
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (819,821
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          30,000
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          705,938
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (44,063
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (182,395
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          Issuance of common stock
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,758
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3,384
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (8,534
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

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

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (24,042
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="bottom">
          Other financing, net
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          (2,229
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          (1,046
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="bottom">
          Net cash provided by (used in) financing activities
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (23,243
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          501,839
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          72
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          563
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Decrease in cash, cash equivalents, and restricted cash
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (9,363
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (341,867
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">
          Cash, cash equivalents, and restricted cash at beginning of period
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          122,328
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          487,335
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="bottom">
          Cash, cash equivalents, and restricted cash at end of period
        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          112,965
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          145,468
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

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

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

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

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

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

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

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

        </div>
      </div>
    </div>
    <p>
      <u>Non-GAAP net income and non-GAAP diluted EPS</u> - We define non-GAAP
      net income as net income attributable to Itron, Inc. excluding the
      expenses associated with amortization of intangible assets,
      restructuring, acquisition and integration, goodwill impairment,
      amortization of debt placement fees, corporate transition cost, 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>
      For interim periods, beginning the first quarter of 2019, the budgeted
      annual effective tax rate (AETR) is used, adjusted for any discrete
      items, as defined in ASC 740 - Income Taxes. The budgeted AETR is
      determined at the beginning of the fiscal year. The AETR is revised
      throughout the year based on changes to our full-year forecast. If the
      revised AETR increases or decreases by 200 basis points or more from the
      budgeted AETR due to changes in the full-year forecast during the year,
      the revised AETR is used in place of the budgeted AETR beginning with
      the quarter the 200 basis point threshold is exceeded and going forward
      for all subsequent interim quarters in the year. We continue to assess
      the AETR based on latest forecast throughout the year and use the most
      recent AETR anytime it increases or decreases by 200 basis points or
      more from the prior interim period.
    </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, corporate transition costs, goodwill impairment and (c)
      excluding income tax provision or benefit. Management uses adjusted
      EBITDA as a performance measure for executive compensation. A limitation
      to using adjusted EBITDA is that it does not represent the total
      increase or decrease in the cash balance for the period and the measure
      includes some non-cash items and excludes other non-cash items.
      Additionally, the items that we exclude in our calculation of adjusted
      EBITDA may differ from the items that our peer companies exclude when
      they report their results. We compensate for these limitations by
      providing a reconciliation of this measure to GAAP net income.
    </p>
    <p>
      <u>Free cash flow</u> - We define free cash flow as net cash provided by
      operating activities less cash used for acquisitions of property, plant
      and equipment. We believe free cash flow provides investors with a
      relevant measure of liquidity and a useful basis for assessing our
      ability to fund our operations and repay our debt. The same limitations
      described above regarding our use of adjusted EBITDA apply to our use of
      free cash flow. We compensate for these limitations by providing
      specific information regarding the GAAP amounts and reconciling to free
      cash flow.
    </p>
    <p>
      <u>Constant currency</u> - We refer to the impact of foreign currency
      exchange rate fluctuations in our discussions of financial results,
      which references the differences between the foreign currency exchange
      rates used to translate operating results from local currencies into
      U.S. dollars for financial reporting purposes. We also use the term
      &#8220;constant currency,&#8221; which represents financial results adjusted to
      exclude changes in foreign currency exchange rates as compared with the
      rates in the comparable prior year period. We calculate the constant
      currency change as the difference between the current period results and
      the comparable prior period&#8217;s results restated using current period
      foreign currency exchange rates.
    </p>
    <p>
      The accompanying tables have more detail on the GAAP financial measures
      that are most directly comparable to the non-GAAP financial measures and
      the related reconciliations between these financial measures.
    </p>
    <div style="margin-right: 0pt; margin-bottom: 10pt; text-indent: 0pt; width: 100%; margin-left: 0pt">
      <div>
        <div style="text-align: left">

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

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

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

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%" cellspacing="0">
      <tr>
        <td colspan="9" style="text-align: center; padding-left: 0.0px" valign="bottom">
          <b>ITRON, INC.</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="text-align: center; padding-left: 0.0px" valign="bottom">
          <b>RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="text-align: center; padding-left: 0.0px" 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>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          (Unaudited, in thousands, except per share data)
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          <b>2019</b>
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="3" style="text-align: center; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          <b>2018</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          <b>NON-GAAP NET INCOME &amp; DILUTED EPS</b>
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (1,907
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (145,666
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="bottom">
          Amortization of intangible assets
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          15,973
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          17,740
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,156
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          3,343
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          7,262
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          87,865
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,083
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          11,565
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          62,647
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 30.0px" valign="bottom">
          Income tax effect of non-GAAP adjustments (1)
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          (7,242
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          (20,835
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 20.0px" valign="bottom">
          Non-GAAP net income attributable to Itron, Inc. (1)
        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          27,890
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          5,094
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 20.0px" valign="bottom">
          Non-GAAP diluted EPS (1)
        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          0.70
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          0.13
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          40,066
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          39,773
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (1,907
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (145,666
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="bottom">
          Interest income
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (328
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (661
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="bottom">
          Interest expense
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          13,535
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          15,504
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          6,121
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (11,188
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="bottom">
          Depreciation and amortization of intangible assets
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          28,427
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          31,072
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          7,262
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          87,865
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,083
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          11,565
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          62,647
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 20.0px" valign="bottom">
          Adjusted EBITDA
        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          65,758
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          39,573
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          24,924
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (24,448
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 30.0px" valign="bottom">
          Acquisitions of property, plant, and equipment
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          (11,415
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          (17,433
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 20.0px" valign="bottom">
          Free Cash Flow
        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          13,509
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          (41,881
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          20,823
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (140,448
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="bottom">
          Amortization of intangible assets
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          15,973
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          17,740
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          7,262
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          87,865
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          1,083
        </td>
        <td>

        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          11,565
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          62,647
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 20.0px" valign="bottom">
          Non-GAAP operating income
        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          56,706
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          27,804
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          166,440
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          320,303
        </td>
        <td>

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

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (15,973
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (17,740
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="bottom">
          Restructuring
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (7,262
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (87,865
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="bottom">
          Corporate transition cost
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: right; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (1,083
        </td>
        <td style="text-align: left; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

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

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

        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          (11,565
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td style="border-bottom-color: black; border-bottom-style: solid; border-bottom-width: 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="text-align: right; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          (62,647
        </td>
        <td style="text-align: left; border-bottom-color: black; border-bottom-style: solid; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 1.0pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 10.0px" valign="bottom">
          Non-GAAP operating expenses
        </td>
        <td>

        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          130,557
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; border-bottom-color: black; border-bottom-style: double; padding-right: 0.0px; white-space: nowrap; border-bottom-width: 2.25pt; padding-left: 0.0px" valign="bottom">
          152,051
        </td>
        <td style="border-bottom-color: black; border-bottom-style: double; border-bottom-width: 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="9" style="text-align: right; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%" cellspacing="0">
      <tr>
        <td style="text-align: center; padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px" valign="top">
          (1)
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          &#160;
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          The income tax effect of non-GAAP adjustments is calculated using
          the statutory tax rates for the relevant jurisdictions, provided no
          valuation allowance exists. If a valuation allowance exists, there
          is no tax impact to the non-GAAP adjustment. Effective for the first
          quarter of 2019, we use the budgeted annual effective tax rate
          (AETR) for interim periods, with adjustments for discrete items, as
          defined in ASC 740 - Income Taxes. This method impacts interim
          periods only and does not impact full year tax results, as any
          difference between the budgeted or revised AETR and the actual AETR
          for non-GAAP adjustments would be recognized in the fourth quarter
          of the year. If the revised methodology had been applied in the
          first quarter of 2018, the non-GAAP effective tax rate would have
          been 36.9% compared with the actual rate of 63.7%. Non-GAAP net
          income would have increased by $4.1 million to $9.2 million, diluted
          non-GAAP EPS would have increased by $0.10 to $0.23.
        </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
    </p>
    <p>
      Rebecca Hussey<br>Manager, Investor Relations<br>(509) 891-3574
    </p>
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</SEC-DOCUMENT>
