Brown Deer-based Badger Meter Inc. today reported third quarter net earnings of $10.2 million, or 71 cents per share, up 13.1 percent from $9 million, or 63 cents per share, in the third quarter of 2013.
Revenue was $96.3 million, up 3.6 percent from $93 million in the same period last year.
The flow measurement and control product manufacturer’s results set new company records for any quarter. The increases can be attributed to higher sales of residential municipal water products and flow instrumentation products, said Richard Meeusen, chairman, president and chief executive officer of Badger Meter. Sales of commercial water products were down slightly.
“This was another strong quarter for Badger Meter, with third quarter sales, earnings and diluted earnings per share that were the highest of any quarter in our history,” Meeusen said. “The third quarter 2014 results beat the previous all-time records set in last year’s third quarter.”
Badger Meter closed on the acquisition of National Meter and Automation Inc. on Oct. 1.
“We are pleased with the acquisition of National Meter, one of the major distributors for our municipal water products,” Meeusen said. “The acquisition will further integrate Badger Meter into this important sales channel, providing benefits for our customers, our company and our other distributors.”
