Badger Meter (BMI) maker of liquid flow and measurement technologies, posted fourth-quarter net income of $6.2 million, or 42 cents per share for the quarter ended December 31, up from $2.7 million, or 18 cents per share.
It also reported revenue of $67.6 million, up 18% from $57.2 million in the fourth quarter of 2007. For the full year, net income was $25.1 million, up more than 52% from $16.5 million. Analysts expected earnings per share of 26 cents per share on revenue of $59.8 million.
Richard A. Meeusen, chairman, president and CEO, said the weakening economy hurt Badger Meter's industrial markets, but the utility business, which contributed about 83 percent of sales, "did not experience any significant impact in 2008."
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