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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues        
Revenues $ 609,069 $ 541,070 $ 1,212,511 $ 1,035,688
Cost of revenues        
Cost of revenues 398,609 367,123 796,672 705,373
Gross profit 210,460 173,947 415,839 330,315
Operating expenses        
Sales, general and administrative 88,413 79,079 174,384 154,600
Research and development 53,053 53,560 105,454 103,125
Amortization of intangible assets 4,511 4,722 8,497 9,770
Restructuring (99) 874 99 37,483
(Gain) loss on sale of business (65) 612 (42) 630
Total operating expenses 145,813 138,847 288,392 305,608
Operating income 64,647 35,100 127,447 24,707
Other income (expense)        
Interest income 5,128 1,508 8,974 3,326
Interest expense (2,290) (1,977) (4,183) (4,034)
Other income (expense), net (445) (333) 18 (1,808)
Total other income (expense) 2,393 (802) 4,809 (2,516)
Income before income taxes 67,040 34,298 132,256 22,191
Income tax provision (15,180) (9,195) (28,609) (9,125)
Net income 51,860 25,103 103,647 13,066
Net income attributable to noncontrolling interests 542 902 608 701
Net income attributable to Itron, Inc. $ 51,318 $ 24,201 $ 103,039 $ 12,365
Earnings (loss) per common share - Basic (in dollars per share) $ 1.12 $ 0.53 $ 2.25 $ 0.27
Earnings (loss) per common share - Diluted (in dollars per share) $ 1.10 $ 0.53 $ 2.22 $ 0.27
Weighted average common shares outstanding - Basic (in shares) 45,745 45,435 45,698 45,358
Weighted average common shares outstanding - Diluted (in shares) 46,526 45,781 46,441 45,677
Product [Member]        
Revenues        
Revenues $ 532,907 $ 464,803 $ 1,060,729 $ 881,127
Cost of revenues        
Cost of revenues 356,747 322,288 713,454 619,631
Service [Member]        
Revenues        
Revenues 76,162 76,267 151,782 154,561
Cost of revenues        
Cost of revenues $ 41,862 $ 44,835 $ 83,218 $ 85,742