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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues        
Revenues $ 541,070 $ 431,882 $ 1,035,688 $ 907,213
Cost of revenues        
Cost of revenues 367,123 305,777 705,373 645,884
Gross profit 173,947 126,105 330,315 261,329
Operating expenses        
Sales, general and administrative 79,079 72,877 154,600 149,278
Research and development 53,560 45,055 103,125 94,651
Amortization of intangible assets 4,722 6,485 9,770 13,038
Restructuring 874 (3,459) 37,483 (9,825)
Loss on sale of business 612 194 630 2,415
Goodwill impairment 0 38,480 0 38,480
Total operating expenses 138,847 159,632 305,608 288,037
Operating income (loss) 35,100 (33,527) 24,707 (26,708)
Other income (expense)        
Interest income 1,508 349 3,326 566
Interest expense (1,977) (1,660) (4,034) (3,252)
Other income (expense), net (333) (1,386) (1,808) (2,075)
Total other income (expense) (802) (2,697) (2,516) (4,761)
Income (loss) before income taxes 34,298 (36,224) 22,191 (31,469)
Income tax provision (9,195) (641) (9,125) (4,500)
Net income (loss) 25,103 (36,865) 13,066 (35,969)
Net income attributable to noncontrolling interests 902 102 701 92
Net income (loss) attributable to Itron, Inc. $ 24,201 $ (36,967) $ 12,365 $ (36,061)
Earnings (loss) per common share - Basic (in dollars per share) $ 0.53 $ (0.82) $ 0.27 $ (0.80)
Earnings (loss) per common share - Diluted (in dollars per share) $ 0.53 $ (0.82) $ 0.27 $ (0.80)
Weighted average common shares outstanding - Basic (in shares) 45,435 45,066 45,358 45,042
Weighted average common shares outstanding - Diluted (in shares) 45,781 45,066 45,677 45,042
Product [Member]        
Revenues        
Revenues $ 464,803 $ 359,898 $ 881,127 $ 759,708
Cost of revenues        
Cost of revenues 322,288 265,278 619,631 560,098
Service [Member]        
Revenues        
Revenues 76,267 71,984 154,561 147,505
Cost of revenues        
Cost of revenues $ 44,835 $ 40,499 $ 85,742 $ 85,786