EX-99.1 2 ex991recastsegmentinformat.htm EXHIBIT 99.1 Exhibit


 
Itron, Inc.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
New segmentation recast for years ended December 31, 2016 and 2017, and the nine-months ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2016
 
Full Year
 
(Unaudited; $ in Thousands)
Q1
 
Q2
 
Q3
 
Q4
 
2016
 
 
 
 
 
 
 
 
 
 
 
 
 
Product revenues
 
 
 
 
 
 
 
 
 
 
 
Device Solutions
$
233,737

 
$
241,044

 
$
214,370

 
$
205,432

 
$
894,583

 
 
Networked Solutions
204,232

 
214,727

 
232,749

 
230,389

 
882,097

 
 
Outcomes
11,844

 
12,170

 
14,023

 
15,353

 
53,390

 
 
Total Company
$
449,813

 
$
467,941

 
$
461,142

 
$
451,174

 
$
1,830,070

 
 
 
 
 
 
 
 
 
 
 
 
 
Service revenues
 
 
 
 
 
 
 
 
 
 
 
Device Solutions
$
4,498

 
$
4,459

 
$
5,492

 
$
4,489

 
$
18,938

 
 
Networked Solutions
14,216

 
14,541

 
14,142

 
14,685

 
57,584

 
 
Outcomes
29,062

 
26,083

 
26,082

 
25,367

 
106,594

 
 
Total Company
$
47,776

 
$
45,083

 
$
45,716

 
$
44,541

 
$
183,116

 
 
 
 
 
 
 
 
 
 
 
 
 
Total revenues
 
 
 
 
 
 
 
 
 
 
 
Device Solutions
$
238,235

 
$
245,503

 
$
219,862

 
$
209,921

 
$
913,521

 
 
Networked Solutions
218,448

 
229,268

 
246,891

 
245,074

 
939,681

 
 
Outcomes
40,906

 
38,253

 
40,105

 
40,720

 
159,984

 
 
Total Company
$
497,589

 
$
513,024

 
$
506,858

 
$
495,715

 
$
2,013,186

 
 
 
 
 
 
 
 
 
 
 
 
 
Gross profit
 
 
 
 
 
 
 
 
 
 
 
Device Solutions
$
63,091

 
$
64,903

 
$
60,072

 
$
44,830

 
$
232,896

 
 
Networked Solutions
87,767

 
93,726

 
97,815

 
99,074

 
378,382

 
 
Outcomes
12,721

 
11,491

 
13,527

 
13,515

 
51,254

 
 
Total Company
$
163,579

 
$
170,120

 
$
171,414

 
$
157,419

 
$
662,532

 
 
 
 
 
 
 
 
 
 
 
 
 
Operating income
 
 
 
 
 
 
 
 
 
 
 
Device Solutions
$
48,471

 
$
51,351

 
$
45,901

 
$
32,438

 
$
178,161

 
 
Networked Solutions
63,890

 
72,643

 
77,293

 
77,409

 
291,235

 
 
Outcomes
2,799

 
3,636

 
5,056

 
4,748

 
16,239

 
 
Corporate unallocated
(90,740
)
 
(91,293
)
 
(120,478
)
 
(82,131
)
 
(384,642
)
 
 
Total Company
24,420

 
36,337

 
7,772

 
32,464

 
100,993

 
Total other income (expense)
(5,010
)
 
(3,642
)
 
(3,244
)
 
(4,470
)
 
(16,366
)
 
Income (loss) before income taxes
$
19,410

 
$
32,695

 
$
4,528

 
$
27,994

 
$
84,627

 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation
 
 
 
 
 
 
 
 
 
 
 
Device Solutions
$
5,784

 
$
6,358

 
$
6,673

 
$
6,343

 
$
25,158

 
 
Networked Solutions
2,452

 
2,368

 
2,268

 
2,049

 
9,137

 
 
Outcomes
771

 
736

 
760

 
774

 
3,041

 
 
Corporate unallocated
1,457

 
1,549

 
1,385

 
1,479

 
5,870

 
 
Total Company
$
10,464

 
$
11,011

 
$
11,086

 
$
10,645

 
$
43,206

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note: Published February 21, 2019 information has the potential to change or be updated at a future date.




 
Itron, Inc.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
New segmentation recast for years ended December 31, 2016 and 2017, and the nine-months ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2017
 
Full Year
 
(Unaudited; $ in Thousands)
Q1
 
Q2
 
Q3
 
Q4
 
2017
 
 
 
 
 
 
 
 
 
 
 
 
 
Product revenues
 
 
 
 
 
 
 
 
 
 
 
Device Solutions
$
201,903

 
$
207,258

 
$
222,642

 
$
234,225

 
$
866,028

 
 
Networked Solutions
217,481

 
234,028

 
195,635

 
233,898

 
881,042

 
 
Outcomes
12,981

 
13,427

 
15,707

 
24,740

 
66,855

 
 
Total Company
$
432,365

 
$
454,713

 
$
433,984

 
$
492,863

 
$
1,813,925

 
 
 
 
 
 
 
 
 
 
 
 
 
Service revenues
 
 
 
 
 
 
 
 
 
 
 
Device Solutions
$
4,740

 
$
4,663

 
$
3,252

 
$
4,213

 
$
16,868

 
 
Networked Solutions
15,129

 
15,634

 
15,889

 
19,690

 
66,342

 
 
Outcomes
25,358

 
28,072

 
33,622

 
34,010

 
121,062

 
 
Total Company
$
45,227

 
$
48,369

 
$
52,763

 
$
57,913

 
$
204,272

 
 
 
 
 
 
 
 
 
 
 
 
 
Total revenues
 
 
 
 
 
 
 
 
 
 
 
Device Solutions
$
206,643

 
$
211,921

 
$
225,894

 
$
238,438

 
$
882,896

 
 
Networked Solutions
232,610

 
249,662

 
211,524

 
253,588

 
947,384

 
 
Outcomes
38,339

 
41,499

 
49,329

 
58,750

 
187,917

 
 
Total Company
$
477,592

 
$
503,082

 
$
486,747

 
$
550,776

 
$
2,018,197

 
 
 
 
 
 
 
 
 
 
 
 
 
Gross profit
 
 
 
 
 
 
 
 
 
 
 
Device Solutions
$
54,803

 
$
49,826

 
$
57,758

 
$
54,244

 
$
216,631

 
 
Networked Solutions
94,428

 
117,793

 
94,286

 
105,868

 
412,375

 
 
Outcomes
8,406

 
10,658

 
13,711

 
14,970

 
47,745

 
 
Total Company
$
157,637

 
$
178,277

 
$
165,755

 
$
175,082

 
$
676,751

 
 
 
 
 
 
 
 
 
 
 
 
 
Operating income
 
 
 
 
 
 
 
 
 
 
 
Device Solutions
$
40,947

 
$
34,537

 
$
43,833

 
$
40,324

 
$
159,641

 
 
Networked Solutions
72,877

 
94,599

 
72,024

 
82,867

 
322,367

 
 
Outcomes
(1,058
)
 
(504
)
 
2,725

 
3,752

 
4,915

 
 
Corporate unallocated
(81,939
)
 
(91,004
)
 
(80,356
)
 
(78,747
)
 
(332,046
)
 
 
Total Company
30,827

 
37,628

 
38,226

 
48,196

 
154,877

 
Total other income (expense)
(5,766
)
 
(6,061
)
 
(4,732
)
 
(3,743
)
 
(20,302
)
 
Income (loss) before income taxes
$
25,061

 
$
31,567

 
$
33,494

 
$
44,453

 
$
134,575

 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation
 
 
 
 
 
 
 
 
 
 
 
Device Solutions
$
6,002

 
$
6,241

 
$
6,680

 
$
6,834

 
$
25,757

 
 
Networked Solutions
1,904

 
1,894

 
1,899

 
2,061

 
7,758

 
 
Outcomes
867

 
887

 
965

 
1,107

 
3,826

 
 
Corporate unallocated
1,056

 
1,098

 
1,363

 
1,572

 
5,089

 
 
Total Company
$
9,829

 
$
10,120

 
$
10,907

 
$
11,574

 
$
42,430

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note: Published February 21, 2019 information has the potential to change or be updated at a future date.




 
Itron, Inc.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
New segmentation recast for years ended December 31, 2016 and 2017, and the nine-months ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
2018
YTD
 
(Unaudited; $ in Thousands)
Q1
 
Q2
 
Q3
 
September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
Product revenues
 
 
 
 
 
 
 
 
 
Device Solutions
$
245,423

 
$
231,750

 
$
216,371

 
$
693,544

 
 
Networked Solutions
279,795

 
275,298

 
297,726

 
852,819

 
 
Outcomes
11,892

 
8,866

 
11,619

 
32,377

 
 
Total Company
$
537,110

 
$
515,914

 
$
525,716

 
$
1,578,740

 
 
 
 
 
 
 
 
 
 
 
Service revenues
 
 
 
 
 
 
 
 
 
Device Solutions
$
3,944

 
$
4,396

 
$
3,879

 
$
12,219

 
 
Networked Solutions
22,543

 
20,868

 
22,782

 
66,193

 
 
Outcomes
43,624

 
44,712

 
43,585

 
131,921

 
 
Total Company
$
70,111

 
$
69,976

 
$
70,246

 
$
210,333

 
 
 
 
 
 
 
 
 
 
 
Total revenues
 
 
 
 
 
 
 
 
 
Device Solutions
$
249,367

 
$
236,146

 
$
220,250

 
$
705,763

 
 
Networked Solutions
302,338

 
296,166

 
320,508

 
919,012

 
 
Outcomes
55,516

 
53,578

 
55,204

 
164,298

 
 
Total Company
$
607,221

 
$
585,890

 
$
595,962

 
$
1,789,073

 
 
 
 
 
 
 
 
 
 
 
Gross profit
 
 
 
 
 
 
 
 
 
Device Solutions
$
53,604

 
$
48,743

 
$
46,484

 
$
148,831

 
 
Networked Solutions
114,241

 
112,290

 
133,057

 
359,588

 
 
Outcomes
12,010

 
15,544

 
17,556

 
45,110

 
 
Total Company
$
179,855

 
$
176,577

 
$
197,097

 
$
553,529

 
 
 
 
 
 
 
 
 
 
 
Operating income
 
 
 
 
 
 
 
 
 
Device Solutions
$
38,192

 
$
34,510

 
$
33,019

 
$
105,721

 
 
Networked Solutions
79,943

 
81,941

 
103,998

 
265,882

 
 
Outcomes
(655
)
 
4,249

 
6,372

 
9,966

 
 
Corporate unallocated
(257,928
)
 
(100,137
)
 
(101,713
)
 
(459,778
)
 
 
Total Company
(140,448
)
 
20,563

 
41,676

 
(78,209
)
 
Total other income (expense)
(16,010
)
 
(13,009
)
 
(16,174
)
 
(45,193
)
 
Income (loss) before income taxes
$
(156,458
)
 
$
7,554

 
$
25,502

 
$
(123,402
)
 
 
 
 
 
 
 
 
 
 
 
Depreciation
 
 
 
 
 
 
 
 
 
Device Solutions
$
6,474

 
$
6,442

 
$
6,127

 
$
19,043

 
 
Networked Solutions
3,244

 
3,071

 
3,152

 
9,467

 
 
Outcomes
1,709

 
1,638

 
1,621

 
4,968

 
 
Corporate unallocated
1,905

 
1,757

 
1,589

 
5,251

 
 
Total Company
$
13,332

 
$
12,908

 
$
12,489

 
$
38,729

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note: Published February 21, 2019 information has the potential to change or be updated at a future date.