News Column

Itron Reports $50 Million Share Repurchase Program

February 17, 2014

Itron, Inc. announced that its board of directors has authorized a new repurchase program of up to $50 million of Itron common stock over a 12-month period to commence upon the expiration of the current share repurchase program on March 7.

"This new repurchase program reaffirms our commitment to returning value to shareholders," said Philip Mezey, Itron president and chief executive officer. "We have repurchased over 2.6 million shares since the fourth quarter of 2011, representing nearly seven percent of the outstanding shares. The strength of our balance sheet provides us with the flexibility to continue repurchasing shares while investing in growth opportunities for the business."

According to a release, repurchases under the program will be made in accordance with applicable securities laws in the open market or in privately negotiated transactions. Depending on market conditions and other factors, these repurchases may be commenced or suspended from time to time without prior notice.

Itron is a technology and services company dedicated to the resourceful use of energy and water.

More information:

itron.com

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