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Itron raises 2008 outlook, sees 2Q revenue above estimates

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April 30, 2008

LIBERTY LAKE, Wash.—Itron Inc., which makes equipment used in reading meters, raised the low end of its full-year outlook range and issued a second-quarter revenue forecast above Wall Street estimates on Wednesday.

The company forecast 2008 income between $3.25 per share and $3.45 per share, compared with a previous estimate of $3.20 to $3.45 per share.

Analysts polled by Thomson Financial expect a profit of $3.36 per share.

For the second quarter, Itron said it expects revenue between $470 million and $490 million, above Wall Street's estimate of $453.9 million.

Shares of Itron gained $5.42, or 5.8 percent, to $98.50 in aftermarket trading. During regular trading, the stock fell $6.32, or 6.4 percent, to $93.08.

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